Regulatory Alerts2019-05-04
Added · Updated
Circular to Licensed Banks Regarding Medium-Term Lending for Tourism and Renewable Energy Sectors
The Central Bank of Jordan amended Circular No. (2011/54) dated March 14, 2011, to include the tourism and renewable energy sectors within the instructions for granting medium-term advances to licensed banks. This directive, effective June 12, 2013, authorizes banks to provide medium-term financing for the construction of hotels, resorts, tourist facilities, and renewable energy projects such as solar and wind energy. Licensed banks are required to apply these updated lending instructions immediately upon the circular's issuance.
In the name of God, the Most Gracious, the Most Merciful
[Central Bank of Jordan Logo]
Number: 96/1/3 7397
Date: 03 Sha'ban, 1434 AH
Corresponding to: June 12, 2013 AD
Circular to All Licensed Banks
Greetings,
Further to the measures taken by the Central Bank to provide medium-term financing to licensed banks for the purpose of re-lending to economic sectors, it has been decided to include the tourism sector (financing the construction of hotels, resorts, and tourist facilities) and the renewable energy sector (solar energy, wind energy, and energy saving projects) within the instructions for granting medium-term advances to licensed banks No. (2011/54) dated March 14, 2011, and subsequent circulars, effective from this date.
Please accept our highest regards,
Governor
Dr. Ziad Fariz
P.O. Box 37 Amman 11118 Jordan, Tel 4630301/9, Cable Central Bank, Amman, Telex 21766, 21476, 21250, Fax 4639730, 4638889
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
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