Regulatory Alerts2023-05-18
Added · Updated
Instructions on Obtaining Loans from Shareholders or Credit from Licensed Banks for Money Exchange Companies
The Central Bank of Jordan issued instructions requiring licensed money exchange companies to obtain prior approval for loans from shareholders or credit from licensed banks. Eligible companies must operate for at least two years, with loan balances capped at 50% of paid-up capital and maturities limited to three years. Subsidiary shareholder loans are restricted to interest-free terms, a five-year minimum maturity, and a limit of two occurrences per company lifetime. These rules replace the 2011 instructions and became effective on July 24, 2019.
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