Regulatory Alerts2020-06-09
Added · Updated
Circular on Returned Cheques for Financial Reasons During the Suspension Period
The Central Bank of Jordan amends reporting and fee rules for returned cheques during the coronavirus pandemic suspension period ending December 31, 2020. Licensed banks must report cheques from the first three grace periods by October 31, 2020, and are prohibited from collecting commissions on these items, whereas a 5 dinar fee applies to cheques re-presented in the fourth period. Additionally, Article 15 is amended to remove clients from the returned cheques list one month after settlement, and the Returned Cheques Unit resumes normal operations on January 3, 2021.
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