RegAlertRule · CBJ · 14 Dec 2014
Circular Regarding the Application of Interest Instructions on Deposits and Facilities No. (14916/2/2/10) dated 2014/12/14
The Central Bank of Jordan mandates that all licensed banks strictly adhere to the Interest Instructions on Deposits and Facilities No. (2007/14) dated 15/12/2002 regarding the calculation of interest and commissions. This directive requires banks to apply specific calculation methods when customers withdraw their deposits in full or in part before the maturity date, in response to customer complaints about current calculation mechanisms. The regulation applies to all licensed banks operating under the jurisdiction of the Central Bank of Jordan.
In the Name of Allah, the Most Gracious, the Most Merciful
Number: 14916 / 2/10
Date: 14/5/1436 AH
Corresponding to: 24/5/2014 AD
Circular to All Licensed Banks
Greetings,
Based on the provisions of Article (99/b) of the Banking Law No. (28) of 2000 and its amendments, and in pursuit of the Central Bank's goal to ensure greater fairness and transparency in dealings with customers, I emphasize the necessity of strict compliance with the application of the Interest Instructions on Deposits and Facilities No. (2007/14) dated 15/12/2002 (Appendix No. (4) Item (Second/h)), concerning the basis for calculating interest and commissions, in light of the receipt of several complaints from customers regarding the interest calculation mechanism when customers withdraw their deposits in full or in part before the maturity date.
Please accept the highest regards,
The Governor
Dr. Ziad Friez
Website: www.cbj.gov.jo ● E-mail: info@cbj.gov.jo ● Fax: 4638889, 4639730, 4639731 ● Phone: 4630201 ● P.O. Box: 37 Amman 11118 Jordan Form (17/0/1/1)
Note from RegAlert. AI assistants can read this document in full, and search 70,000+ more, through the RegAlert MCP connector (https://mcp.regalert.today/mcp). Free with an account. How to connect ChatGPT, Claude or Cursor.
Similar documents from other regulators
More like this from CBJ
CBJ published 3 documents in the last 30 days. We email you each new one the day it's published.
Source: Central Bank of Jordan — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
In RegAlert: added · updated