Regulatory Alerts2018-07-15
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Circular to Microfinance Companies Operating in the Kingdom Regarding Virtual Currencies and Emerging Financial Technology
The Central Bank of Jordan issued Circular 2/28/9328 on July 15, 2018, to microfinance companies operating in the Kingdom. The document attaches reports from the Egmont Group and the Middle East and North Africa Financial Action Task Force (MENAFATF) concerning virtual currencies and emerging financial technology. It directs these companies to review the materials regarding the exploitation of these technologies in money laundering and terrorist financing operations.
In the name of Allah, the Most Gracious, the Most Merciful
[Logo of the Central Bank of Jordan]
Number: 2/28/9328 Date: 3/11/1439 AH Corresponding to: 15/7/2018 AD
Circular to Microfinance Companies Operating in the Kingdom
Peace be upon you,
We attach herewith copies of the report issued by the "Egmont" Group regarding virtual currencies and emerging financial technology, and their exploitation in money laundering and terrorist financing operations, as well as the report "Applications Regarding Money Laundering via Electronic Means" issued by the Middle East and North Africa Financial Action Task Force (MENAFATF), for your review and consideration where appropriate.
Please accept our highest regards,
Governor Dr. Ziad Fariz
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