Regulatory Alerts2022-02-22
Added · Updated
Circular to Banks Regarding Credit Information Sharing with CRIF-Jordan
The Central Bank of Jordan instructs banks operating in the Kingdom to prepare for sharing client credit information with CRIF-Jordan. This directive requires banks to ensure their staff and systems are ready to provide the necessary data to the company by the end of the current year. The instruction follows the preliminary approval granted to CRIF-Jordan to operate as a credit information company under Credit Information Law No. 15 of 2010.
No. 10/6/14633 Date: 26/11/2015 Circular to banks operating in the Kingdom After Greetings, With reference to the Credit Information Law No. (15) of 2010, and the accordingly issued bylaw, “CRIF-Jordan Company” was granted the preliminary approval to operate as a credit information company in the Hashemite Kingdom of Jordan. The company is currently in the process of obtaining the necessary license according to the legal referrals above. Given the significant role of this company in the rationalization of credit decisions, enhancing risk management at credit providers, and improving the business environment in the Kingdom; you are kindly requested to instruct your concerned staff to undertake the necessary procedures to ensure your institution’s readiness for providing the company with the required credit information regarding your clients as of the end of the current year. Respectfully,, Governor Dr. Ziad Fariz