Instructions for Controls on Advertising of Products, Services, and Prizes by Financial and Banking Services Providers

Instructions for Controls on Advertising of Products, Services, and Prizes Offered by Financial and Banking Services Providers No. (1/ 2025) Issued by virtue of the provisions of Articles (4/ b/ 13) and (65/ b) of the Central Bank of Jordan Law No. (23) Of 1971 and its amendments These instructions aim to promote the financial consumer protection principles, particularly the principle of disclosure and transparency and the principle of appropriate design and delivery of financial and banking services, which contributes to increasing client confidence in the service provider and thus increasing financial inclusion in the Kingdom.
Article (1): Scope of Application
The provisions of these instructions shall apply to all operating banks, licensed finance companies, electronic payment and transfer of funds companies, money exchange companies and insurance companies, after (30) days from the date of their issuance.
Article (2): Definitions
The following words and phrases wherever mentioned in these instructions shall have the meanings assigned thereto hereunder unless the context indicates otherwise:
No: 27/3/1206
Date: 20/7/1446 Hijri
Corresponding to: 20/1/2025

Service Provider :
The operating banks, licensed finance companies, electronic payment and transfer of funds companies, money exchange companies and insurance companies with all their branches, offices and agents inside the Kingdom. Product/ Service :
Any offer or program offered by the service provider that has specific characteristics and terms. Prize :
Any money, whether in cash or in- kind, offered or promised to be offered free of charge in the promotion of any product or service under certain terms. Client :
The natural or legal person who has obtained, used or will obtain any of the services and/ or products and/ or prizes offered by the service provider. Advertising :
It includes direct and indirect advertising, whether readable, audible, visual or online. Direct Advertising Indirect Advertising :
:
The offer that is based on direct interaction between the service provider and the client, including meeting a person or persons, over the phone, or through any form of direct conversation. The offer that is published in print, electronically, through visual and/ or audio advertising means, via SMS, on the service provider’s website, or on the service provider’s officially verified accounts on social media sites. Readable Advertisement :
Advertisement published through newspapers, magazines, a brochure, flyer, billboard, or web banner.

Audible
Advertisement
:
Advertisement published through radio, telephone, or any other similar mean. Visual Advertisement :
Advertisement published through television stations, websites, social media sites, electronic billboards, ATM screens at the service provider, or any other similar mean. Online Advertisement :
Advertisement published through the service provider's websites, social media sites, or electronic application. Website :
The Service Provider's website or any other website through which the service provider advertises.
Article (3): Terms and Conditions of Advertising for the Product/ Service/ Prize
A. The advertisement of the product, service, or prize shall include the following data and information at a minimum:

1. The name.
2. A statement that it is subject to commissions or fees, if any, and clarification of
   the details within the terms and conditions and in accordance with the provisions of the relevant legislations in force, as applicable.
3. Descriptions, features, and expiration date (if any).
4. Methods for inquiring about additional information and details.
5. Determining the category that the product/ service/ prize targets if a specific
   category is targeted (such as students, women, doctors,...).
   B. The phrases used in the advertisement may be brief, provided that the service provider provides all the details, terms and conditions in its branches and on its website and/ or electronic application (if any) through a direct electronic link.
   C. The advertisement shall not include any abuse, distortion, or ambiguity of any
   competing service providers, whether explicitly or implicitly.

D. The readable advertisement information shall be written in Arabic as a minimum, simple and understandable, and the font size shall be legible and appropriate, including margins, and abbreviated incomprehensible symbols should not be used. E. Existence of a clear contrast in the advertisement between the color used to write the information and the colors used in the background so that the information is easy to distinguish and read. F. The audible advertisement information should be stated clearly and understandably, ensuring that the listener understands the information easily. G. The advertisement must not include anything that violates laws, regulations, public order or public morals. H. The speed of the visual text (if animated) must be appropriate, as well as the font size and the length of the used sentences, making it easy for the client to read/ hear/ comprehend, and ensure that none of the advertisement information is passed too quickly that hinders understanding the advertisement.
I. When using the phrase "subject to the service provider's terms and conditions" in
online advertisements, the phrase must be linked directly to the product or service's website page on the service provider's website, ensuring that all announced information is comprehensive, clear, and in accordance with legislations in force. J. In addition to what is stated in Article (3/ A) of these instructions, the terms and conditions and all details related to the prizes shall be accurate, clear, comprehensive, and reflect the prize in its true form without exaggeration or intensiveness. The advertisement must include the following data and information at a minimum:

1. Detailed cash prize amounts and the frequency of the draw.
2. The end date of the campaign.
3. Clarification if the prizes are subject to income tax, customs duties, or any
   other deductions, if any.

Article (4): Prohibited Practices
A. Service provider is prohibited from using promises or phrases that are incomprehensible, exaggerated, or violate legislations in force. Examples of these include:

1. Using the Central Bank's logo.
2. The phrase “no commissions” or something similar if there are direct or indirect
   commissions.
3. Stating that the interest/ return calculated on the loan/ financing is 0%, "interest￾free," or "free," when interest/ return is actually calculated on the loan/ financing.
4. The phrase "sure loan," "without prior approval," or similar terms.
5. Phrases such as “many other prizes,” “valuable prizes,” “luxurious in- kind
   prizes,” or the like, without specifying in the terms and conditions what are the prizes.
6. Phrases such as "the highest financing rate", "the best", "the lowest cost", "the
   largest number," "the most valuable," or similar terms, without the service provider verifying the truth of these terms and documenting what confirms this before advertising them. B. The service provider is prohibited from advertising or promoting any product, service or prizes partially for the purpose of attracting the client, or advertising in a way that only shows the positive aspects of the product or service and postponing the full disclosure of the characteristics of the product, service or prize until the sale or post￾sale stage.
   C. The service provider is prohibited from advertising or promoting the use of
   trademarks that are not duly registered with the relevant authorities and which the service provider does not have the right to use.

Article (5): Removal of Expired Advertisements
Expired advertisements for the product/ service/ prize must be removed on all advertising media, and these advertisements may be kept on the service provider’s accounts/ pages on social media sites only, provided that it is clearly and directly indicated in the advertisement that the related campaign has ended.
Article (6): Client Notification
A. If the service provider sends marketing SMS, they must be sent between 8 AM and 5 PM, taking into account the provisions of the Personal Data Law and the legislations in force in this regard. B. The service provider may announce the names and/ or photos of the winners of any of the prizes offered in a manner it deems appropriate, provided that their prior approval is obtained.
Article (7): General Provisions
The service provider must adhere to the following:
A. To develop an advertising policy that includes what is stated in these instructions as a minimum and to have it approved by the Board of Directors or the Management Committee. The service provider must verify the implementation of the approved policy and update it periodically and whenever necessary. A copy of the policy and any amendments to it must be provided to the Central Bank upon approval. B. If more than one service, product and/ or prizes are advertised in the same advertisement, care must be taken to separate them and specify the terms, conditions and features of each one separately.
C. In the event that the promotional campaign is modified/ cancelled before its end
date, the service provider must immediately announce this by the same means

through which the campaign was promoted and/ or remove those advertisements wherever they exist. D. Clarifying the type of interest/ return in advertisements for credit products, so that it is identical to what is listed on each of the systems, contracts, mortgage bonds, and virtual calculator. E. Clarify the minimum and maximum cashback limits in cashback product advertisements, and the maximum cashback limit in Jordanian dinars, if any. F. Add the phrase “Terms and Conditions Apply” to the text of all the product and/ or service and/ or prize advertisements. G. Update websites, social media, and the electronic application immediately upon any changes in the published information. H. With regard to advertisements for prizes related to any of clients’ accounts, banks must adhere to the provisions of the relevant circulars in force.
I. Clarifying the impact/ costs incurred when benefiting from grace periods in credit
products within their terms and conditions.
Article (8): Penalties and Fines
A. If a service provider violates any of the provisions of these instructions, the Central Bank may impose any of the penalties or measures stipulated in the legislations regulating the activities of financial and banking service providers, as appropriate. B. The Central Bank may instruct the service provider to cease any advertisement for a product, service, or prize if it violates the requirements of these instructions or any requirements/ legislations issued by the Central Bank.

Article (9):
A. The circulars that conflict with the provisions of these instructions shall be cancelled, including the following circulars as of the effective date of these instructions:

• Circular No. (9/2/7/9187) dated 2/8/2011.
• Circular No. (27/3/2556) dated 2/2/2023.
• Circular No. (9/1/4894) dated 17/3/2024.
  B. The provisions of circular No. (26/2/6359) dated 29/3/2023 shall remain in effect. Governor Adel Sharkas