Circular Regarding Requirements for Approving Money Transfer Transactions with External Exchange Companies

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

Central Bank of Jordan

Number: 2914 / 7/3/9
Date: 4 / 4 / 1433 AH
Corresponding to: 12 / 2 / 2012 AD

Circular to Licensed Exchange Companies

It has been observed recently that some licensed exchange companies in the Kingdom have submitted requests for approval to conduct money transfer transactions with external exchange companies without attaching the necessary requirements for consideration. In order to enable us to consider such requests, any exchange company wishing to conduct money transfers with external exchange companies must provide us with the following:

1. An original letter from the company bearing the official name of the company, signed by the authorized signatories, including: a request for approval to deal with an external party, the name of the external party, the name of the country in which this party operates, and the nature of the transaction for which approval is sought.

2. An official document issued by the regulatory authorities in the relevant country stating that the exchange/money transfer company is licensed and permitted to conduct external money transfers. In the event that those authorities do not require annual renewal of the license, supporting documentation confirming this must be attached.

Please accept our highest regards,,,

Governor
Dr. Ziad Fariz

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P.O. Box 37 Amman 11118 - Jordan Phone 9 * 4630301 / Fax 4638889, 4639730 Website www.cbj.gov.jo Email info@cbj.gov.jo

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