Regulatory Alerts2016-11-07
Added · Updated
Circular No. 9-2-7-7689 Regarding Services Provided to Expatriate Workers
The Central Bank of Jordan mandates that licensed exchange companies must verify valid work permits and certified identity documents before allowing expatriate workers to transfer funds outside the Kingdom. This requirement enforces compliance with Anti-Money Laundering and Combating the Financing of Terrorism Instructions and reiterates obligations from Circular No. 6892/14/3/9 dated June 8, 2015. The directive applies specifically to licensed exchange companies operating under the Central Bank's jurisdiction.
[Logo of the Central Bank of Jordan] [Logo of the Great Arab Revolt Centenary]
Number: 7689 / 2 / 9 Date: 8 / 8 / 1437 AH Corresponding to: 15 / 5 / 2016 AD
Circular to Licensed Exchange Companies
Subject: Services Provided to Expatriate Workers
Greetings,
With reference to the above subject, and subsequently to our Circular No. (6892/14/3/9) dated 2015/6/8 regarding the same.
I emphasize the necessity to comply with the content of the aforementioned circular by taking all necessary measures to ensure that expatriate workers are not permitted to transfer funds outside the Kingdom unless they present a valid work permit, along with certified identity proof documents, which must be verified in accordance with the procedures stipulated in the effective Anti-Money Laundering and Combating the Financing of Terrorism Instructions for exchange companies, as well as other circulars issued by the Central Bank regarding this matter.
Please accept the highest assurances of respect,
The Governor Dr. Ziad Faris