Regulatory Alerts2026-03-29
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Corporate Governance Instructions for Institutional Banks No. (2-2023) and its Amendments
The Central Bank of Jordan issues Corporate Governance Instructions for institutional banks, including Islamic banks, establishing comprehensive requirements for board composition, independence criteria, and member qualifications. The document mandates the establishment of specific committees, defines the roles of the executive management and internal control functions, and introduces detailed obligations regarding risk culture, ESG sustainability, and cybersecurity. It further sets out procedures for the appointment of external auditors, Shariah compliance, and the application of these rules to foreign bank branches operating in the Kingdom.
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