Regulatory Alerts2021-03-07
Added · Updated
Circular Regarding the Repeal of Previous Circulars and Amendments to Data Reporting Requirements
The Central Bank of Jordan repeals three prior circulars concerning credit facilities secured by shares, Syrian balances, and the Lending Survey. It amends reporting obligations for licensed banks by changing the frequency of credit facility statements from quarterly to annual and restricting government accounts statements to email submission only. The circular reaffirms the prohibition on paper monthly statements and mandates strict adherence to data upload deadlines in the supervision system.
10/5/ 4083 23/ 7/1442 AH 7/ 3 /2021 AD Circular to Licensed Banks Greetings,
In light of the continuous monitoring of data received by the Central Bank and the evaluation of the need to provide us with this data in paper format, I have decided the following:
First: Deeming the following referenced circulars null and void effective from the date of this circular: Circular No. (10/2/2/6391) dated 18/6/2007 regarding credit facilities granted against or secured by shares by Jordan branches. Circular No. (10/2/2/3917) dated 28/3/2013 regarding Syrian balances in the Kingdom. Circular No. (10/2/2/11782) dated 28/9/2014 regarding the (Lending Survey).
Second: Amending the frequency of providing the Central Bank with credit facility statements by governorates and sectors, as stipulated by our Circular No. (10/5/5774) dated 23/4/2018, to become annual instead of quarterly.
Third: Amending the mechanism for providing us with the government accounts statement (with independent budgets and the public sector), as stipulated by our Circular No. (10/2/10705) dated 27/8/2015, to be via email only (DMAND@cbj.gov.jo).
Fourth: Reaffirming the necessity to fully comply with the provisions of our Circular No. (10/2/12790) dated 26/10/2014, which mandates the cessation of providing us with paper statements of the monthly statement and its attachments in the form of paper statements.
Emphasizing the necessity to exercise the highest degree of accuracy in uploading data to the office supervision system within the specified deadlines.
Please accept our highest respect,
The Governor Dr. Ziad Fries