Regulatory Alerts2020-11-01
Added · Updated
Circular on Savings Account-Linked Prizes Extension
The Central Bank of Jordan extends the implementation period for Circular No. 27/5/3808 regarding prizes linked to savings accounts until the end of 2021. All banks operating in the Kingdom are required to obtain prior approval from the Central Bank before advertising or promoting any prizes associated with their accounts. This extension applies under the same conditions and controls stipulated in the original circular.
In the name of Allah, the Most Gracious, the Most Merciful
[Logo of the Central Bank of Jordan]
Number: 27/14218 Date: 15/3/1442 AH Corresponding to: 1/11/2020 AD
Circular to Banks Operating in the Kingdom
Greetings,
With reference to our Circular No. (27/5/3808) dated 10/3/2019 regarding "Prizes Linked to Savings Accounts," we wish to inform you that the implementation period of this Circular has been extended until the end of 2021, under the same conditions and controls stipulated therein. It is mandatory for all banks to obtain prior approval from the Central Bank before engaging in advertising and/or promoting any of their prizes linked to all types of accounts.
Please accept our highest regards,
[Signature] Governor Dr. Ziad Fariz