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2009-01-01

Circular Book No. (48) for the Year 2009

The Central Bank of Jordan issued Circular Book No. (48) of 2009 to establish standardized definitions and foundational regulatory provisions for banking supervision. The document mandates compliance from all domestic banks, grants the Central Bank explicit authority to waive, amend, or exempt institutions from specific requirements, and outlines enforcement mechanisms including official gazette publication and supplementary implementation instructions. It serves as the primary regulatory framework to ensure banking system safety, stability, and consistent supervisory practices across all licensed entities.

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Part One: Definitions

Article 65

Circular Book No. (48) for the Year 2009 Dated 26/1/2009

Based on the provisions of Article (93) of Banking Law No. 93 of 2000, and the Executive Regulation issued thereunder No. (20) of 2000, and the decisions issued thereunder, and the instructions issued by the Central Bank of Jordan and approved by the Board of Directors, and pursuant to Article (5) of its Statute, and since the Central Bank of Jordan exercises supervisory and directive functions over banks to ensure the safety and stability of the banking system, and to achieve this, the Board of Directors of the Central Bank of Jordan has seen fit to adopt the following:

First: Regarding Definitions

Article 65

  1. The terms and phrases used in this Circular shall have the meanings set forth opposite each of them, unless the context indicates otherwise.
  2. The singular shall be deemed to include the plural, and vice versa, and the masculine shall be deemed to include the feminine, and vice versa.
  3. References to articles, paragraphs, and circulars shall be to those in this Circular unless otherwise specified.
  4. The Central Bank may waive any of the provisions of this Circular or amend them in whole or in part.
  5. The provisions of this Circular shall apply to all banks operating in the Hashemite Kingdom of Jordan, except for the provisions relating to foreign banks' branches, which shall apply to them specifically.
  6. The Central Bank may exempt any bank or category of banks from any of the provisions of this Circular, wholly or partially, subject to such conditions as it deems appropriate.
  7. [Text corrupted in source]
  8. [Text corrupted in source]

Page 66

  1. The Central Bank may issue supplementary instructions to implement this Circular.
  2. [Text corrupted in source]
  3. This Circular shall be published in the Official Gazette and shall take effect from the date of its publication.
  4. The Central Bank shall issue the necessary forms and templates to implement this Circular.

Chairman of the Board of Directors Central Bank of Jordan Approved by the Board of Directors

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