Regulatory Alerts2023-01-10
Added · Updated
Instructions on Credit Information Companies' Operational Controls No. 13/2022
The Central Bank of Jordan issued Instructions No. 13/2022, effective April 1, 2023, establishing operational controls for Credit Information Companies, Data Providers, and Credit Providers. The document mandates specific data retention periods, such as three years for payment delays and seven years for insolvency, while requiring weekly data updates from providers and daily updates for returned checks. It further imposes security protocols for database access, prohibits unauthorized disclosure of credit information, and requires Credit Information Companies to submit audited accounts and quarterly operational reports to the regulator.
Topics
Share