Regulatory Alerts2021-04-21
Added · Updated
Circular to Licensed Exchange Companies Regarding Extension of Approval for Foreign Currency and Precious Metal Lines
The Central Bank of Jordan extends the validity of approvals granted to licensed exchange companies to open transaction lines in foreign currencies and precious metals with external parties until 17/10/2021 or until the issuance of new systems and instructions under the Exchange Business Law, whichever is earlier. This extension applies to approvals expiring on 17/4/2021 and maintains the condition that companies must observe Articles 20/d and 48/j of the Electronic Payment and Money Transfer System No. 111 of 2017 and Article 15/b of the Instructions for Approving Electronic Payment Systems No. 2020/3.
[Logo of the Central Bank of Jordan] [Logo of the Jordanian Centenary]
Reference No.: 14/3/9 / 6155 Date: 9/4/1442 AH Corresponding to 14/4/2021 AD
Circular to Licensed Exchange Companies Subject: Extension of the validity of approvals granted to exchange companies to open lines for dealing in foreign currencies and precious metals with external parties
Greetings,
Based on the decision of the Board of Directors of the Central Bank issued on 30/3/2021, which includes approval to extend the period for regularizing the situation stipulated in Article (31) of the Exchange Business Law No. (44) of 2015 for a period of six months ending on 18/10/2021, while observing the provisions of Articles (20/d) and (48/j) of the Electronic Payment and Money Transfer System No. (111) of 2017 and the provisions of Article (15/b) of the Instructions for Approving Electronic Payment Systems No. (2020/3) dated 5/2/2020, and subsequently to the approvals granted to licensed exchange companies to open transaction lines in foreign currencies and precious metals with external parties in accordance with the relevant legislation (including acting as agents for quick money transfer services) which expire on 17/4/2021 or until the issuance of the systems and instructions stipulated in the current Exchange Business Law, whichever is earlier, we hereby inform you of the approval to extend the validity of those approvals under the same conditions until 17/10/2021 or until the issuance of the systems and instructions stipulated in the current Exchange Business Law, whichever is earlier, while observing the provisions of Articles (20/d) and (48/j) of the Electronic Payment and Money Transfer System No. (111) of 2017 and the provisions of Article (15/b) of the Instructions for Approving Electronic Payment Systems No. (2020/3) dated 5/2/2020.
Please accept our highest regards,
The Governor Dr. Ziad Friez
P.O. Box 3700, Amman 11118 - Jordan Phone: 9* 4630301 / Fax: 4638889, 4639730 Website: www.cbj.gov.jo Email: info@cbj.gov.jo