Regulatory Alerts2019-12-29
Added · Updated
Circular on Correcting Bank Identification Numbers and Classifying Domestic ATM Transactions
The Central Bank of Jordan requires banks operating in the Kingdom to correctly define Bank Identification Numbers (BINs) in their systems and monitor them continuously. The Circular mandates that all cash withdrawals using domestic payment cards at ATMs within the Kingdom be classified as local transactions, regardless of the routing network. Banks must implement these measures and report their compliance to the Central Bank within five working days of the Circular's date.
In the name of Allah, the Most Gracious, the Most Merciful
[Logo of the Central Bank of Jordan]
Number: 3/27/10167 Date: 1/5/1441 AH Corresponding to: 29/12/2019 AD
Circular to Banks Operating in the Kingdom
Greetings,
It has been observed recently, based on complaints received by the Central Bank, that some banks are deducting additional commissions from their customers—beyond those commonly agreed upon between banks—when customers use ATMs belonging to other banks within the Kingdom for cash withdrawals.
In its commitment to achieving greater transparency and fairness in the dealings of banks with their customers and enabling them to provide better banking services, the Central Bank of Jordan requires banks to take all necessary measures to correctly define the Bank Identification Number (BIN) of banks operating in the Kingdom within their systems, and to continuously monitor the matter. Furthermore, any cash withdrawal transaction performed through an ATM within the Kingdom using a payment card issued by a bank operating in the Kingdom must be treated as a local transaction, regardless of the network through which the transaction is routed, whether it is a local network belonging to any of the electronic money payment and transfer companies or an external network belonging to any of the global payment card companies.
We hope for your compliance with the content of this circular and request that you inform us of the implementation of the required actions within five working days from its date.
Please accept our highest regards,
[Signature] Governor Dr. Ziad Frieze