Regulatory Alerts2007-09-30
Added · Updated
Instructions for Licensed Banks’ Branching Inside Jordan
The Central Bank of Jordan issues Circular No. 36/2007 to regulate the establishment and operation of branches, marketing locations, and ATMs by licensed banks within the Kingdom. The document mandates written applications with feasibility studies for new branches, requires two weeks' prior notification before launching operations, and imposes a one-year deadline for opening approved locations. It further stipulates that banks must obtain prior approval for branch closures or relocations, maintain specific security standards for ATMs, and submit annual statistical reports by mid-January. This circular cancels six previous circulars and takes effect immediately upon issuance.
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