Regulatory Alerts2021-09-21
Added · Updated
Circular on Mandatory Free SMS Notifications for Retail Banking Customers
The Central Bank of Jordan mandates that all banks operating in the Kingdom provide free, instant SMS notifications for every transaction executed on retail customers' accounts. This requirement applies to all banking products and transaction types, including withdrawals, deposits, commissions, and fees, without imposing additional costs on customers. The directive supersedes previous guidance and confirms that the service is compulsory rather than optional for all retail clients.
In the Name of Allah, the Most Gracious, the Most Merciful
[Logo of the Central Bank of Jordan] [Logo of the Jordanian Centennial]
Reference No.: 27/180/14 Date: 14/1/1443 AH Corresponding to: 19/8/2021 AD
Circular to Banks Operating in the Kingdom
Greetings,
Further to our circular No. (10/2/6027) dated 25/4/2016, we confirm that the SMS messaging service is mandatory for all retail customers and is not optional, and applies to all types of banking products. The service must be linked to the nature of the transaction (withdrawal, deposit, commission, fees, etc.), without any additional costs to customers, and must be delivered instantly at the moment any transaction is executed on retail customers' accounts.
Please accept our highest respect,
Governor Dr. Ziad Frieze