Circular regarding the conditions for exchange companies to maintain foreign currency accounts with foreign banks

Licensed exchange companies are required to submit monthly statements of their foreign bank accounts to the Central Bank of Jordan by the end of the following month, effective January 2015. Failure to comply subjects the companies to penalties under Exchange Business Law No. 26 of 1992 and its implementing regulations.

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

Number: 455/14/3/9
Date: 27 Rabi' al-Awwal 1436 AH Corresponding to: 18 January 2015 AD

Circular to Licensed Exchange Companies

Greetings,

Further to our letter No. (5872/7/2/9) dated 2007/6/6, which included the conditions set by the Board of Directors of the esteemed Central Bank regarding the retention of foreign currency accounts by exchange companies operating with foreign banks (attached), I emphasize the necessity of full compliance with Item (9) of the aforementioned letter. Companies must provide the Central Bank with a copy of the monthly statement of transactions for their accounts opened abroad, no later than the end of the following month. This requirement shall apply starting from January 2015. Otherwise, your company will be subject to the penalties stipulated in Exchange Business Law No. (26) of 1992 and the legislations issued pursuant thereto.

Please accept the assurances of my highest consideration.

Governor
Dr. Ziad Fariz

P.O. Box 370, Amman 11118 - Jordan Tel: 4630301 / 9 * Fax: 4638889 4639730 Website: www.cbj.gov.jo Email: gov.jo

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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