Regulatory Alerts2018-01-22
Added · Updated
Circular to Banks Operating in the Kingdom Regarding Credit Inquiry Service Compliance
The Central Bank of Jordan mandates that banks operating in the Kingdom strictly comply with Article 18/a of the Credit Information Law No. 15 of 2010. This directive requires banks to conduct mandatory credit inquiries through the CRIF-Jordan service, addressing observed violations where institutions failed to perform these required checks. The circular emphasizes the necessity of immediate corrective measures to ensure adherence to the law.
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 the name of Allah, the Most Gracious, the Most Merciful
[Central Bank of Jordan Logo]
Number: 1/28 / 8873 Date: 27 / 9 / 1438 AH Corresponding to: 22 / 6 / 2017 AD
Circular to Banks Operating in the Kingdom
Greetings,
It has been observed through our continuous monitoring of the operations of "CRIF - Jordan" regarding the credit inquiry service that some banks are not inquiring about customers as required through this service, thereby violating the provisions of Article (18/a) of the Credit Information Law No. (15) of 2010. Therefore, I emphasize the necessity of taking the necessary measures to comply with the provisions of this law.
Please accept our highest regards
[Signature] Dr. Ziad Fariz
P.O. Box 37 Amman 11118 Jordan Tel 4630301 Fax 4638889 Website: www.cbj.gov.jo Email: info@cbj.gov.jo Form (1/10/111)
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