Extension of Validity of Approvals Granted to Exchange Companies to Deal with External Parties

[Central Bank of Jordan Logo]

Number: 10063/14/3/9
Date: 26/11/1442 AH
Corresponding to: 7 / 7 / 2021 AD

Circular to Licensed Exchange Companies
Subject: Extension of validity of approvals granted to exchange companies to deal with external parties

Greetings,

With reference to the approvals granted to licensed exchange companies to deal with parties outside the Kingdom, and subsequent to the decision of the Central Bank Board of Directors issued on 30/3/2021 and communicated to you by our Circular No. (6055/14/3/9) dated 14/4/2021, and taking into account the issuance of the Exchange Companies Licensing System No. (39) of 2021 on 7/6/2021, I inform you that, by virtue of the Central Bank Board of Directors' decision dated 1/7/2021, approval has been granted to extend all approvals granted to licensed exchange companies to deal with parties outside the Kingdom, including approvals issued to those companies after the date of issuance or effectiveness of the Exchange Companies Licensing System No. (39) of 2021, until those companies regularize their status in accordance with the provisions of the effective Exchange Business Law and the systems and instructions issued thereunder, provided that the purpose associated with the approval remains within the purposes licensed for the company to practice according to its category stipulated in Article (5) of the Exchange Companies Licensing System No. (39) of 2021, while observing the provisions of Articles (20/d) and (48/c) of the Electronic Payment and Money Transfer System No. (111) of 2017 and the provisions of Article (15/b) of the Instructions for Approving International Electronic Payment Systems No. (3/2020) dated 5/2/2020.

We emphasize the necessity for you to take the necessary measures and arrangements regarding your various dealings in line with the foregoing [including adopting a systematic exit plan to cease any dealings whose associated purpose falls outside the purposes licensed for the company to practice according to its category stipulated in Article (5) of the Exchange Companies Licensing System No. (39) of 2021], as those approvals will then be considered automatically nullified.

Please accept our highest regards,

Governor
Dr. Ziad Fariz

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P.O. Box 37 Amman 11118 - Jordan Tel +96264630301 Fax 4638889, 4639730 Website www.cbj.gov.jo Email info@cbj.gov.jo

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