Regulatory Alerts2016-11-07
Added · Updated
Circular Regarding Prior Written Approval Before Opening Any Foreign Currency Dealing Lines
The Central Bank of Jordan mandates that licensed exchange companies must obtain prior written approval before opening any foreign currency dealing line with parties outside the Kingdom or concluding contracts with money transfer companies. This requirement applies for any purpose and is enforced under the threat of legal sanctions pursuant to Exchange Business Law No. (26) of 1992.
In the name of Allah, the Most Gracious, the Most Merciful
[Logo of the Central Bank of Jordan]
Number: 4614 Date: 3 Rabi' al-Thani 1427 AH Corresponding to: 1 May 2006 AD
Circular to Licensed Exchange Companies
Subject: Opening Foreign Currency Dealing Lines
Based on the provisions of Exchange Business Law No. (26) of 1992, I emphasize the necessity of obtaining the prior written approval of the Central Bank of Jordan before opening any foreign currency dealing line with any party outside the Kingdom, for any purpose whatsoever, and before concluding any contracts with any money transfer companies, under the threat of legal sanctions.
Please accept the highest regards,
Dr. Amieh Touqan Governor