Regulatory Alerts2020-05-18
Added · Updated
Circular on Disclosure of Costs and Interest for Installment Deferrals
The Central Bank of Jordan requires all banks operating in the Kingdom to clearly announce all costs and interest collected from retail customers resulting from the deferral of monthly installments for May 2020 and any other month in 2020. This directive mandates transparent disclosure of financial charges associated with installment deferrals for the specified period.
In the name of Allah, the Most Gracious, the Most Merciful
[Logo of the Central Bank of Jordan]
Reference No.: 27 / 1 / 5545 Date: 25 / Ramadan / 1441 AH Corresponding to: 18 / 5 / 2020 AD
Circular to all banks operating in the Kingdom
Greetings,
Banks are required, when announcing the deferral of the monthly installment due to retail customers for the month of May 2020 and/or any month of the year 2020, to clearly announce all costs and interest that will be collected from the customer as a result of the installment deferral.
Please accept our highest regards,
The Governor Dr. Ziad Fariz