Circular on General Security and Safety Procedures for Licensed Money Exchange Companies

Number: 13695/2/9 Date: 1444/2/1 AH Corresponding to: 2022/8/28 AD

Circular to Licensed Money Exchange Companies

Greetings and regards,

Subject: General security and safety procedures for licensed money exchange companies and their branches.

With reference to the above subject and following our previous circulars on this matter, the latest being Circular No. (16616/7/2/9) dated 2020/12/27, please be informed of the following:

1. It is necessary for money exchange companies to notify the competent security authorities and the Central Bank of Jordan of any case (embezzlement, forgery, theft, fraud, shortage in actual assets, bad credit) immediately upon its occurrence or discovery. The date of occurrence of such cases and their details must be clarified in the letters sent to the Central Bank regarding the matter, with the Central Bank being provided subsequently with evidence of notification to the competent security authorities regarding the case and clarification of the reporting date.

2. It is necessary to notify the Anti-Money Laundering and Counter-Terrorist Financing Unit in accordance with the requirements of the Anti-Money Laundering and Counter-Terrorist Financing Law No. (20) of 2021, specifically for cases that resulted in financial proceeds that may be the subject of money laundering or terrorist financing crimes.

3. Providing all necessary equipment and/or procedures capable of detecting forgery cases.

4. I emphasize the necessity of adhering to what was previously stated in our prior circulars regarding the adoption of necessary procedures and arrangements to deter any acts of assault or robbery against money exchange companies, by adhering to the following:

• Providing all general safety requirements and working to train employees on protection and security means.
• Installing surveillance cameras covering all internal and external facilities of the company, in compliance with general security requirements, and linking these cameras to the Command and Control Center / General Security Directorate, and linking the early warning system against theft by signing an agreement with the General Security Directorate and providing us with the concluded agreement.
• Retaining camera footage for a suitable period of no less than one year.
• Imposing appropriate guarding on the company's facilities.
• Any other measures deemed appropriate to achieve the highest levels of protection and security.

Please accept our highest respect,

The Governor Dr. Adel Al-Sharkas

P.O. Box 37 Amman 11118 - Jordan Phone 9/4630301 * Fax 4638889 - 4639730 Website www.cbj.gov.jo Email info@cbj.gov.jo