Regulatory Alerts2020-07-05
Added · Updated
Circular on Banking Measures to Mitigate COVID-19 Economic Impact
The Central Bank of Jordan authorizes banks to postpone loan installments for affected companies and retail customers without charging commissions or delay interest, and without negatively impacting credit ratings. Banks may reschedule debts while maintaining provisions, provided clients repay at least three monthly or two quarterly installments, with all arrangements ending by the end of 2020. Additionally, the Central Bank permits restructuring retail credit facilities up to ten years and mandates enhanced business continuity planning and electronic channel usage.
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