Regulatory Alerts2024-06-11
Added · Updated
Circular to Licensed Exchange Companies
The Central Bank of Jordan mandates that Licensed Exchange Companies maintain full compliance with the ongoing ban on dealing with all types of currencies and virtual assets. This prohibition covers direct and indirect transactions, including facilitating offerings, selling assets, processing financial transfers, and exchanging foreign currencies against virtual assets. The regulator warns that failure to adhere to these requirements will result in the imposition of severe legal penalties.
[Logo of the Central Bank of Jordan]
Ref: 9019/9/14 Date: 14/14/1445 AH Corresponding to: 11/6/2024 AD
Circular to Licensed Exchange Companies
Greetings,
In line with the Central Bank of Jordan's commitment to the financial stability of the banking sector, and in accordance with the Central Bank of Jordan's circulars issued, most recently Circular No. (26/2/17282) dated 11/11/2021 regarding the ban on dealing with all types of currencies/virtual assets by all entities subject to the supervision and oversight of the Central Bank of Jordan.
I emphasize full compliance with the provisions of the Central Bank's circulars regarding the continued ban on direct and indirect dealing with all types of currencies/virtual assets in any form, or facilitating dealing with them. This includes participating in and providing financial services related to the offering by one of the issuers and/or selling currencies/virtual assets, sending or receiving financial transfers, and buying and selling foreign currencies against them. Failure to comply with this will be subject to the imposition of the most severe legal penalties.
Please accept the highest regards,
[Signature] Governor Dr. Adel Al-Sharkas
P.O. Box 27 • Amman 11118 Jordan • Phone 1030364 • Fax 988364 • Website: www.cbj.gov.jo • Email: info@cbj.gov.jo Form (120/10/1)