Regulatory Alerts2025-03-23
Added · Updated
Circular on Extending Savings Account Prize Draws Until End of 2027
The Central Bank of Jordan extends the authorization for banks to grant prizes linked to savings accounts until the end of 2027, replacing Circulars 3808/5/27 and 12478/3/27. The regulation caps single prizes at 100,000 Jordanian Dinars and annual totals at 3 million Dinars, while mandating Central Bank attendance for draws valued at 10,000 Dinars or more. Banks must submit quarterly and monthly reports on prize distributions and interest rates, obtain prior approval for advertising, and ensure prizes do not substitute for interest payments. These provisions become effective on January 1, 2026.
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