Regulatory Alerts2020-02-06
Added · Updated
Circular on Reporting Requirements for Bank-Owned Real Estate under Instruction No. 2/2000
The Central Bank of Jordan amends the reporting obligations for licensed banks regarding real estate owned for business management or employee housing under Instruction No. 2/2000. Banks are required to submit data only upon the acquisition of such real estate and must cease monthly submissions unless there is a change in the reported data. This directive, issued by Governor Dr. Ziad Frieze, takes effect immediately for all licensed banks in Jordan.
In the Name of Allah, the Most Gracious, the Most Merciful
[Logo of the Central Bank of Jordan]
Number: 1/10/5561 Date: 14/6/1441 AH Corresponding to: 6/2/2020 AD
Circular to All Licensed Banks
Greetings,
Continuing the Central Bank's approach of monitoring and reviewing its issued instructions, please work on providing us with the required data pursuant to Item (First) of Instruction No. 2/2000 dated 15/10/2000, concerning real estate owned by banks that they need for managing their business or for housing and serving their employees. This submission is required only upon the acquisition of the real estate, and you are to cease providing it on a monthly basis unless there is a change in the data referred to in the aforementioned instructions.
Please accept our highest respect,
The Governor Dr. Ziad Frieze