Regulatory Alerts2023-05-07
Added · Updated
Instructions of Corporate Governance for Banks No. 2/2023
The Central Bank of Jordan issued Instructions of Corporate Governance for Banks No. 2/2023, which apply to all banks and Islamic banks operating in Jordan. The document mandates that board compositions include at least eleven members with a minimum of four independent directors, subject to specific fit and proper criteria and Central Bank approval. It establishes detailed obligations for board tasks, including strategic oversight, risk management, and the establishment of specialized committees, while defining the roles and accountability of senior executive management and internal control functions.
Topics
Share