Regulatory Alerts2023-06-08
Added · Updated
Instructions for Licensing Branches of Exchange Companies No. (8/2023)
The Central Bank of Jordan issues Instructions No. (8/2023) establishing the regulatory framework for the licensing, relocation, temporary suspension, and permanent closure of branches by exchange companies. The document mandates that companies must have operated for at least two years, maintain approved internal controls, and meet minimum capital requirements before applying for branch expansion. It sets specific timelines, including a six-month initial approval period and a six-month operational commencement deadline, while requiring prior written consent for any branch relocation or temporary cessation of business activities.