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.
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)