Circular Regarding Enforcement Seizures Under Insurance Regulation Law No. 12 of 2021

In the Name of Allah, the Most Gracious, the Most Merciful

[Logo of the Central Bank of Jordan]

Number: 17/2/14431
Date: 15/2/1444
Corresponding to: 11/9/2022

Circular to all banks operating in the Kingdom

With reference to the provisions of Article (13) of the Law Regulating Insurance Activities No. (12) for the year 2021, and in this regard, we confirm the following:

1. It is not permissible to impose an enforcement seizure or execution in favor of any entity whatsoever, or to use it for any purpose contrary to what is stipulated in Item (1) of Paragraph (b) of Article (13), unless the seizure or execution is in favor of the insured, and you must verify the status of the applicant for the seizure or execution.

2. Notify the Central Bank and the concerned insurance company in the event of any seizure against them or any reduction in the amount mentioned above.

And accept highest regards,,,

Governor
Dr. Adel Al-Sharkas
[Signature]

---

P.O. Box 27, Amman 11118, Jordan • Phone: 06 4630301 • Fax: 06 4638889 • Website: www.cbj.gov.jo • Email: info@cbj.gov.jo

---