Regulatory Alerts2008-12-04
Added · Updated
Instructions for Cross-Border Establishment by Jordanian Banks No. 18/2004
The Central Bank of Jordan issued Instructions No. 18/2004 to regulate the cross-border establishment of Jordanian banks through branches, subsidiaries, or representative offices. The rules require banks to have operated domestically for at least five years and maintain a "Well Capitalized" solvency classification with CAMEL ratings of no less than 2 for both the bank and its management. Banks must submit economic feasibility studies, host country supervision assessments, and internal governance policies, while adhering to ongoing reporting obligations for losses, audits, and operational changes. These instructions repeal Memorandum No. 249/93 and became effective on June 24, 2004.
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