Regulatory Alerts2020-04-16
Added · Updated
Circular No. 6012: Extension of Approvals for Licensed Exchange Companies to Open Foreign Currency and Precious Metal Lines
The Central Bank of Jordan extends the validity of approvals granted to licensed exchange companies to open transaction lines in foreign currencies and precious metals with external parties until 17/10/2020 or until the issuance of new systems and regulations under the Exchange Business Law, whichever is earlier. This extension applies to approvals that expired on 17/4/2020 and maintains the requirement to observe Articles 20/d and 48/c of the Electronic Payment and Money Transfer System No. 111 of 2017.
[Logo of the Central Bank of Jordan]
Number: 6012 Date: 24/8/1441 AH Corresponding to: 16/4/2020 AD
Circular to Licensed Exchange Companies Subject: Extension of the validity of approvals granted to exchange companies to open lines for dealing in foreign currencies and precious metals with external parties
Greetings,
Based on the decision of the Board of Directors of the Central Bank dated 5/4/2020, which included approval to extend the period for regularization as stipulated in the provisions of Article (31) of the Exchange Business Law No. (44) of 2015 for a period of six months ending on 18/10/2020, while observing the provisions of Articles (20/d) and (48/c) of the Electronic Payment and Money Transfer System No. (111) of 2017, and subsequently to the approvals granted to licensed exchange companies to open transaction lines in foreign currencies and precious metals with external parties in accordance with the applicable legislation in this regard (including dealing as agents for remittance services) which expire on 17/4/2020 or until the issuance of the systems and regulations stipulated in the current Exchange Business Law, whichever is earlier, we inform you of the approval to extend the validity of those approvals under the same conditions until 17/10/2020 or until the issuance of the systems and regulations stipulated in the current Exchange Business Law, whichever is earlier, while observing the provisions of Articles (20/d) and (48/c) of the Electronic Payment and Money Transfer System No. (111) of 2017.
Please accept our highest regards,
The Governor Dr. Ziad Faris