Circular Regarding Outstanding Unsettled Remittances — CBJ — JO

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

[Logo of the Central Bank of Jordan]

Number: 7/2/9 / 12785
Date: 15 / 10 / 1434 AH
Corresponding to: 20 / 10 / 2013 AD

Circular to Licensed Exchange Companies
Subject: Outstanding (Unsettled) Remittances

Greetings,

It has been observed through inspection visits and the review of periodic statements and data submitted to the Central Bank by licensed exchange companies that some companies are retaining funds for outstanding unsettled remittances belonging to their clients for extended periods. In this regard, you are reminded of the necessity to adhere to the following:

A. The provisions of Articles (11) and (13) of the Exchange Operations Law No. (26) of 1992 and the conditions related to your dealings with external parties, which include the requirement to settle transactions with such parties immediately.

B. The Law on Government Ownership of Property Subject to Prescription No. (35) of 1985 and its amendments in this regard.

Please accept our highest regards,

[Signature]
Governor
Dr. Ziad Fariz

P.O. Box 370, Amman 11118 - Jordan Phone 4630301 / 9 * Fax 4638889, 4629730 Website www.cbj.gov.jo Email info@cbj.gov.jo

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Issued under

Exchange Operations Law No. (26) of 1992Not in RegAlert
“The provisions of Articles (11) and (13) of the Exchange Operations Law No. (26) of 1992”