Regulatory Alerts2026-07-12
Added · Updated
Instructions on Electronic Money Transfer Business
The Central Bank of Jordan issued these instructions to regulate electronic money transfer orders between banks and customers, covering definitions, transmission protocols, and liability for illegal transactions. The rules require banks to provide specific disclosures regarding fees, restrictions, and error correction procedures, while prohibiting charges for transaction errors and mandating customer notification for service amendments. Banks are obligated to modify their internal conditions and documentation systems within three months of the instructions' issuance on September 13, 2004.