Regulatory Alerts2017-06-09
Added · Updated
Inclusion of Tourism and Renewable Energy Sectors in Medium-Term Financing Instructions
The Central Bank of Jordan amended Instruction No. 54/2011 to include the tourism and renewable energy sectors in the framework for extending medium-term advances to licensed banks. The tourism sector covers the financing of hotel construction, rest areas, and tourist public facilities, while the renewable energy sector includes solar power, wind energy, and energy saving projects. This directive applies to all licensed banks and took effect on 12 June 2013.
Number: 3/1/729796 Date: 3 Shaban 1434 Hijri Corresponding to 12 June 2013 Circulation to all Licensed Banks In line with the measures taken by the Central Bank to provide medium- term financing to licensed banks for the purpose of re- lending economic sectors, it has been thereby decided to include the sector of tourism (the financing of the construction of hotels, rest areas, and tourist public facilities) and the sector of renewable energy (solar power, wind energy, and energy saving projects) within the instructions on extending medium- term advances to licensed banks no (54/2011) dated on 14/3/2011 and all subsequent circulars on this regard as of date. Respectfully Governor Dr. Ziad Fariz