Regulatory Alerts2013-06-05
Added · Updated
Circular Regarding Remittance Commissions
The Central Bank of Jordan mandates that licensed exchange companies must clearly announce and disclose their commission rates for all banking services, including those charged by foreign correspondents, to customers. This requirement applies to all current rates and any subsequent amendments, utilizing all disclosure methods that ensure the information reaches the customer. The directive was issued by Governor Dr. Ziad Fariz on June 5, 2013.
No.: 4/9/6983 Date: 26/7/1434 AH Corresponding to: 5/6/2013 AD
Circular to Licensed Exchange Companies Subject: Remittance Commissions
In order to ensure the safety and efficiency of banking transactions carried out by exchange companies and to protect the rights of their customers, the Central Bank of Jordan emphasizes the necessity of clearly announcing and disclosing to customers, transparently and through all disclosure methods that ensure the information reaches the customer, the commission rates charged by exchange companies for all banking services and any amendments thereto, including commission rates charged by correspondents abroad.
Please accept our highest regards,
Governor Dr. Ziad Fariz
P.O. Box 37, Amman 11118 - Jordan Phone: +962 4630301 Fax: +962 4639230 / 4638889 Website: www.cbj.gov.jo Email: info@cbj.gov.jo