Regulatory Alerts2020-09-09
Added · Updated
Circular on Compliance with Audited Financial Data Requirements for Credit Decisions
The Central Bank of Jordan reiterates the obligation for banks to rely on financial data certified by a legal auditor and verified by the Jordan Institute of Certified Public Accountants when making credit decisions. Compliance will be monitored through supervisory inspections that check whether the volume of facilities granted aligns with clients' audited financial statements. Non-compliant banks will be subject to financial penalties and fines under prevailing legislation.
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