Regulatory Alerts2019-07-24
Added · Updated
Instructions for Licensed Exchange Companies Obtaining Loans from Partners or Credit from Licensed Banks
The Central Bank of Jordan issued Instructions requiring licensed exchange companies to obtain prior approval for loans from partners or credit from licensed banks. The rules cap standard borrowing at 50% of paid-up capital with a maximum two-year term, while supporting loans are limited to 100% of capital, must be interest-free, and have a minimum five-year maturity. The document also mandates specific application procedures, financial reporting, and repeals the previous 2011 instructions effective July 24, 2019.
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