Regulatory Alerts2017-04-12
Added · Updated
Instructions for Managing and Marketing Investment Portfolios and Funds in Foreign Currencies for Clients
These instructions establish controls for banks licensed and operating in Jordan regarding the management and marketing of investment portfolios and funds in foreign currencies for clients. Banks must adopt written policies for both activities, submitting the management policy to the Central Bank of Jordan within three months, and are prohibited from extending credit facilities to finance these investments. Key requirements include segregating bank and client accounts, providing detailed monthly client reports, using clear legal agreements and marketing materials, and maintaining records of client orders and complaints. Effective March 5, 2007, these instructions supersede memo No. (93/3) dated January 5, 1993, and other related directives.