Regulatory Alerts2020-06-03
Added · Updated
Circular on Bounced Checks for Financial Reasons During the Suspension Period
The Central Bank of Jordan mandates that licensed banks calculate grace periods for bounced checks during the coronavirus pandemic using calendar days instead of business days, with specific durations varying by sector and time period. Banks are prohibited from charging bounce fees during the pandemic and must report all related bounced checks by October 31, 2020. The standard regulations for returned checks resume effective May 26, 2020.
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