Regulatory Alerts2009-02-09
Added · Updated
Foreign Currency Instructions
The Central Bank of Jordan issued these instructions to liberalize foreign currency regulations, permitting unrestricted movement of payments and gold and allowing licensed banks to hold foreign currency reserves up to 15.0 percent of external obligations. The rules authorize banks to manage foreign currency investments, trade forwards without ceilings, and maintain unrestricted resident and non-resident accounts. Licensed banks are mandated to submit specific monthly reports to the Central Bank and pay a 0.001 commission on foreign currency transfers, with the directive taking effect upon its publication in the Official Gazette on July 16, 1997.
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