Regulatory Alerts2014-01-29
Added · Updated
Circular Regarding Outstanding Unsettled Remittances
The Central Bank of Jordan directs licensed exchange companies to settle transactions with external parties immediately, prohibiting the retention of funds for outstanding unsettled remittances for extended periods. This directive enforces Articles 11 and 13 of the Exchange Operations Law No. 26 of 1992 and the Law on Government Ownership of Property Subject to Prescription No. 35 of 1985. The regulation applies to all licensed exchange companies operating in Jordan.
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