Instructions for the Basis of Collecting the Difference in Compulsory Insurance Premium for Non-Jordanian Vehicles for 2024

CENTRAL BANK OF JORDAN Central Bank of Jordan

Number: 17/3/2167 Date: 30 Jumaada II 1446 AH Corresponding to: 31 December, 2024 AD

Dear Insurance Companies, Dear Jordanian Insurance Companies Union, Subject: Instructions for the Basis of Collecting the Difference in Compulsory Insurance Premium for Non-Jordanian Vehicles for 2024

Greetings,

Based on the provisions of paragraph (b) of Article (109) of the Law Regulating Insurance Business No. (12) of 2021 and the provisions of paragraph (a) of Article (18) and paragraph (a) of Article (19) of the Compulsory Vehicle Insurance System No. (52) of 2024, we attach to you "Instructions for the Basis of Collecting the Difference in Compulsory Insurance Premium for Non-Jordanian Vehicles No. (25) of 2024" issued pursuant to the decision of the Board of Directors of the Central Bank No. (252/2024) dated 24/12/2024.

Please accept our highest respect,

Governor Dr. Adel Al-Sharkas

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Central Bank of Jordan P.O. Box (37) Amman, 11118 Jordan Phone: 0096264630301 Fax: 0096264635615 Email: info@cbj.gov.jo Website: cbj.gov.jo

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Central Bank of Jordan CENTRAL BANK OF JORDAN

Instructions for the Basis of Collecting the Difference in Compulsory Insurance Premium for Non-Jordanian Vehicles No. (25) for the Year 2024

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Contents

Subject	Page
Article (1):	3
Article (2):	3
Article (3):	3
Article (4):	3
Article (5):	4

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Article (1): These Instructions are named "Instructions for the Basis of Collecting the Difference in Compulsory Insurance Premium for Non-Jordanian Vehicles for 2024", and are issued based on the provisions of paragraph (a) of Article (18) and paragraph (a) of Article (19) of the Compulsory Vehicle Insurance System No. (52) of 2021 and paragraph (b) of Article (109) of the Law Regulating Insurance Business No. (12) of 2021, and are considered effective from the date 2025/1/1.

Article (2): a- The words and phrases contained in these Instructions have the meanings specified below unless the context or circumstances indicate otherwise:

1. The Law: The Law Regulating Insurance Business No. (12) of 2021.
2. The System: The Compulsory Vehicle Insurance System No. (52) of 2024.

b- The definitions of terms and phrases contained in the Law and the System are adopted wherever they appear in these Instructions unless the context or circumstances indicate otherwise.

Article (3): a- If the duration of stay of a non-Jordanian vehicle in the Kingdom exceeds the duration of the compulsory insurance policy, an amount is to be collected before the non-Jordanian vehicle leaves the Kingdom, calculated according to the following equation:

Amount to be collected before leaving the Kingdom = Premium due for the vehicle - Premium collected upon entry of the vehicle to the Kingdom.

b- The amount to be collected in accordance with the provisions of paragraph (a) of this Article is rounded to the nearest dinar.

Article (4): The Governor issues the necessary decisions to implement the provisions of these Instructions.

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Article (5): The Instructions for the Basis of Collecting the Difference in Compulsory Insurance Premium for Non-Jordanian Vehicles No. (26) of 2010 and its amendments issued based on the provisions of the Compulsory Vehicle Insurance System No. 12 of 2010 are repealed, provided that the decisions issued pursuant to the provisions of the aforementioned Instructions remain in effect until replaced by others in accordance with the provisions of these Instructions.

Chairman of the Board of Directors of the Central Bank