Regulatory Alerts2016-11-09
Added · Updated
Circular on Revised Monthly Statistical Reports for Remittances
The Central Bank of Jordan modifies the monthly statistical report forms for outgoing and incoming remittances, limiting geographic distribution to a specific list of countries attached to the circular. Effective for data from January 2017, licensed exchange companies must classify remittance data by geographic origin or destination, with first recipients and final senders handling the classification for cross-border flows. Sub-agents must report data for transfers executed through them, while main agents report only direct transactions, and all inter-house remittances are recorded under a supplementary item. Compliance is mandatory under penalty of legal sanctions stipulated in Article 26 of the Exchange Business Law No. 44 of 2015.