Regulatory Alerts2016-08-28
Added · Updated
Circular No. (9-3-14-11314) dated 28-8-2016 regarding financial transfers for expatriate workers
The Central Bank of Jordan instructs licensed exchange companies to ensure expatriate workers do not transfer funds outside the country unless they present a valid residency card (for restricted nationalities) or a valid work permit (for other nationalities). Additionally, transfers must align with the geographical area specified in the worker's permit. The circular also reiterates the importance of full compliance with Anti-Money Laundering and Counter-Terrorism Financing Instructions No. (2/2010) dated 30/12/2010.
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Number: 14/3/9 / 11314 Date: 25 / 8 / 1437 AH Corresponding to: 28 / 8 / 2016 AD
Circular to Licensed Exchange Companies Subject: Financial Transfers for Expatriate Workers
Greetings,
Following our circulars No. (14/3/9 / 6892) dated 8/6/2015 and No. (7689/7/2/9) dated 5/6/2016 regarding services provided to expatriate workers, and in light of the Ministry of Labor's procedures to control and regulate the labor market, please take the necessary measures to ensure the following:
- Expatriate workers are not permitted to transfer any financial amounts outside the country except after presenting a valid residency card for restricted nationalities subject to the provisions of the Residence and Foreigners Affairs Law, or presenting a valid work permit for other nationalities.
- Transfers must be made by the expatriate worker according to the geographical area stated in the permit.
In the same context, we emphasize the necessity of full compliance with Anti-Money Laundering and Counter-Terrorism Financing Instructions No. (2 / 2010) dated 30 / 12 / 2010 in this regard.
Please accept our highest regards,
Governor Dr. Ziad Fariz
P.O. Box 370 Amman 11118 - Jordan Tel 4630301/9 * Fax 4638889 4639730 Website www.cbj.gov.jo Email info@cbj.gov.jo