Circular Regarding the Time Limit for Closing Branches No. (10695/2/10) dated 2016/8/14

Licensed banks in Jordan are required to close branches or offices approved for closure within a maximum period of four months from the Central Bank of Jordan's approval date, with approval automatically revoked if this deadline is missed. A separate four-month grace period is granted for previously approved closures where the actual closure date was not reported. Banks must adhere to these specific timelines to maintain regulatory compliance regarding branch operations.

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Central Bank

Circular to Licensed Banks in the Kingdom

Greetings,

Based on the provisions of Article (17/b) of the Banks Law No. (28) of 2000 and its amendments, and the provisions of Article (First/1/z) of the Internal Banking Distribution Instructions No. (2007/36) dated 30/9/2007, please be informed of the following:

Each bank is obligated to close the branches/offices approved for closure within a maximum period of four months from the date of the Central Bank of Jordan's Board of Directors' approval for their closure, and the approval is automatically revoked thereafter.
A four-month period from this date will be granted to close branches/offices that were previously approved for closure but for which the actual closure date was not reported to us.

Please accept our highest respect,

The Governor

Dr. Ziad Friez

Number: 10795/2/10
Date: 11/11/1437 AH
Corresponding to: 14/5/2016 AD

P.O. Box 37 Amman 11118 Jordan • Phone 4630301 • Fax 4638889, 4638624 • Website: www.cbj.gov.jo • Email: info@cbj.gov.jo

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Lineage: In force

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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