Regulatory Alerts2022-02-22
Added · Updated
Circular on Transfer of Microfinance Company Branches
The Governor of the Central Bank of Jordan issued this circular to clarify procedures for microfinance companies transferring local existence forms. Transfers within the same area are governed by permanent transfer provisions, while transfers to a different area require submitting official requests to close the existing branch and open a new one. This directive applies to microfinance companies operating in the Kingdom under Bylaw No. (5) of 2015 and Instructions No. (62/2016).
No. 28/2/6602 Date: 14/6/2020 Circular to microfinance companies operating in the Kingdom After Greetings, With reference to Microfinance Companies Bylaw No. (5) of 2015, as well as the Instructions on Licensing and Existence of Microfinance Companies No. (62/2016) dated 10/4/2016, and in light of the applications submitted by some companies to transfer one of their local existence forms from one place to another, I would like to inform you that the provisions regulating the permanent transfer mentioned in these referrals are applied in case the transfer takes place within the area of the old location, and in the same area of that existence otherwise, it is required to duly submit an official request to close this existence and open a new one, according to the provisions of the same instructions indicated above. Respectfully,, Governor Dr. Ziad Fariz