Regulatory Alerts2007-03-05
Added · Updated
Instructions for Managing and Marketing Portfolios and Investment Funds in Foreign Currencies
The Central Bank of Jordan issued these instructions to regulate licensed banks in the Kingdom regarding the management and marketing of client portfolios and investment funds in foreign currencies. Banks must adopt written policies, establish independent back and middle offices, and prohibit using client credit facilities to finance these investments. The rules mandate transparent marketing, monthly reporting, and the separation of client accounts from bank balance sheets, while explicitly excluding foreign branches of these banks from compliance.
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