Regulatory Alerts2022-02-22
Added · Updated
Circular to Microfinance Companies on COVID-19 Support Measures
The Central Bank of Jordan mandates microfinance companies to defer loan payments for affected clients in April and May 2020 without charging additional interest, commissions, or fees, while ensuring these arrangements do not negatively impact clients' credit registry status at CRIF-Jordan. The circular further requires companies to review pricing policies to reduce costs, direct new lending toward productive projects, and enhance customer service and digital literacy campaigns. Additionally, microfinance entities must maintain business continuity and liquidity management plans, monitor loan portfolio risks, and enable remote work infrastructure to sustain operations during the crisis.
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