Regulatory Alerts2020-07-29
Added · Updated
Instructions for the Merger of Licensed Money Exchange Companies 2020
The Central Bank of Jordan issues the 2020 Instructions for the Merger of Licensed Money Exchange Companies, establishing the regulatory framework for mergers under Article 25 of the Money Exchange Business Law No. 44 of 2015. The rules define two merger methods: absorption and consolidation, and mandate that the surviving entity increase its capital to cover the net assets and liabilities of the merged entities. Applicants must submit a detailed request including a business plan, audited financial statements, and proof of compliance with anti-money laundering requirements. The Central Bank has 90 days to issue an initial approval or reject the application, followed by a 60-day period to grant final approval after all conditions are met.