Regulatory Alerts2009-02-09
Added · Updated
Instructions for Licensing Limited Liability Money Exchange Companies Issued by the Central Bank of Jordan
The Central Bank of Jordan mandates a minimum paid-up capital of JD 1.0 million and requires head offices to be located within Greater Amman Municipality for Limited Liability Money Exchange Companies. Applicants must submit specific documentation, including a feasibility study and auditor-certified balance sheets, and maintain a cash deposit or bank guarantee equivalent to 30 percent of paid-up capital. The regulations enforce strict operational constraints, including prohibitions on establishing branches, moving headquarters, or obtaining credit facilities without prior written approval from the Central Bank. Furthermore, companies must report liquidity levels not less than 80.0 percent of paid-up capital and notify the regulator immediately of any suspected illegal transactions.