Regulatory Alerts2021-04-05
Added · Updated
Circular to Licensed Banks Regarding Data Submission and Repeal of Previous Circulars
The Central Bank of Jordan repeals Circulars No. 6391/2/10, 3917/2/10, and 11782/2/10 effective 7 March 2021. It modifies the reporting frequency for credit facility statements to annual instead of quarterly and requires government accounts statements to be submitted via email only. The circular reaffirms the prohibition on paper monthly reports and mandates accurate data uploads to the supervision system within specified deadlines for licensed banks.
In the Name of Allah, the Most Gracious, the Most Merciful
[Logo of the Central Bank of Jordan]
Number: 10/5/4083 Date: 23/7/1442 AH Corresponding to: 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First: The circulars referred to below are considered repealed as of this date:
- Circular No. (6391/2/10) dated 18/6/2007 regarding credit facilities granted against or secured by shares by Jordan branches.
- Circular No. (3917/2/10) dated 28/3/2013 regarding Syrian balances in the Kingdom.
- Circular No. (11782/2/10) dated 28/9/2014 regarding the (Lending Survey).
Second: The frequency of providing the Central Bank with credit facility statements by governorates and sectors, as stipulated by our Circular No. (5774/5/10) dated 23/4/2018, is modified to be annual instead of quarterly.
Third: The mechanism for providing us with the government accounts statement (with independent budgets and the public sector), as stipulated by our Circular No. (10705/2/10) dated 27/8/2015, is modified to be via email only (DMAND@cbj.gov.jo).
Fourth: Reaffirming again the necessity of full compliance with the provisions of our Circular No. (12790/2/10) dated 26/10/2014, which mandates ceasing to provide us with paper statements of the monthly report and its attachments in the form of paper statements.
Emphasizing the necessity of exercising the highest degree of accuracy in uploading data to the office supervision system within the specified deadlines.
Please accept our highest regards,
[Signature] Governor Dr. Ziad Fariz