Regulatory Alerts2001-07-26
Added · Updated
Instructions for Conducting Banks' Activities via Electronic Means
The Central Bank of Jordan issued Circular No. (8/2001) to regulate banks conducting activities via electronic means. Banks must notify the Central Bank before launching e-activities, implement specific security and technical standards, and maintain emergency recovery plans. The regulation mandates regular system reviews, transparent client contracts, third-party risk insurance, and immediate reporting of hacking incidents. Banks are also required to submit statistical reports on electronic transactions and facilitate on-site examinations by the Central Bank.
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