Regulatory Alerts2022-07-03
Added · Updated
Instructions No. 4 of 2022 (Amending Anti-Money Laundering and Counter-Terrorist Financing Instructions No. 2 of 2016)
Article 15 of the original Anti-Money Laundering and Counter-Terrorist Financing Instructions is amended to require insurance companies to notify the relevant unit and the Central Bank of any changes to the names of the Reporting Officer or their deputy. The amendment mandates that both individuals must possess appropriate qualifications and obtain the Central Bank's non-objection regarding their appointment or termination of services. These changes apply to insurance companies and become effective upon publication in the Official Gazette.
In the Name of Allah, the Most Gracious, the Most Merciful
[Logo of the Central Bank of Jordan]
Number: 17/3/100 Date: 1/8/1443 AH Corresponding to: 30/3/2022 AD
To: Insurance Companies
Subject: Amended Instructions for Anti-Money Laundering and Counter-Terrorist Financing Instructions in Insurance Activities No. (2) of 2016 and its amendments
Based on the provisions of paragraph (b) of Article (109) of the Law Regulating Insurance Activities No. (12) of 2021, Attached to you are Instructions No. (4) of 2022 (Amended Instructions for Anti-Money Laundering and Counter-Terrorist Financing Instructions No. (2) of 2016 issued pursuant to the Board of Directors' Decision of the Central Bank No. (32/2022)) Dated 23/2/2022.
Please accept our respectful regards.
The Governor Dr. Adel Al-Sharqas [Signature]
Copy to: The Jordanian Union of Insurance Companies. P.O. Box 37, Amman 11118 - Jordan • Phone: 4630301 • Fax: 4638889, 4639730, 461330 Website: www.cbi.gov.jo E-mail: info@cbi.gov.jo
Instructions No. (4) of 2022 (Amended Instructions for Anti-Money Laundering and Counter-Terrorist Financing Instructions No. (2) of 2016) and its amendments
Article 1: These Instructions shall be titled (Amended Instructions for Anti-Money Laundering and Counter-Terrorist Financing Instructions No. (2) of 2016 and its amendments) and shall be issued pursuant to the provisions of paragraph (b) of Article (109) of the Law Regulating Insurance Activities No. (12) of 2021. They shall be read together with Instructions No. (2) of 2016 and its amendments, referred to herein as the Original Instructions, and shall be deemed effective as of the date of their publication in the Official Gazette.
Article 2: Article (15) of the Original Instructions is amended to read as follows: (The Company shall be obligated to determine the name of the Reporting Officer and the name of their deputy and to notify the Unit and the Central Bank in the event of a change to either of them, provided that each of them possesses appropriate qualifications and obtains the Central Bank's non-objection to their appointment or termination of their services).