Central Bank of Jordan

CENTRAL BANK OF JORDAN

Number: 7788
Date: 16/2/1432 AH
Corresponding to: 5/7/2011 AD

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Circular to Licensed Banks

We attach for your information a copy of the letter from the Prime Minister, No. (9981/2/16/31), dated 3/5/2011, addressed to His Excellency the Minister of Finance, regarding the approval to grant a number of exemptions and benefits to similar public joint stock companies wishing to carry out mergers and acquisitions with each other until 31/12/2011.

Please accept our highest respect,

Governor
Fares Abdul Hamid Sharaf

• Attached -

Website: www.cbj.gov.jo • E-mail: info@cbj.gov.jo • Fax: 4638889, 4639730, 4639731 • Phone: 4630301 • P.O. Box 37, Amman 11118, Jordan

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Office of the Prime Minister

Number: 31 / 2 / 9981
Date: 29 Jumada al-Awwal 1432
Corresponding to: 2011 - 05 - 03

His Excellency the Minister of Finance

Subsequent to my letter No. 20047/2/16/31 dated 31/10/2010 and referring to your letter No. 8037/18/12/112 dated 29/3/2011

The Council of Ministers reviewed your Excellency's letter referred to above regarding the responses to my letter No. 20047/2/16/31 dated 31/10/2010 concerning procedures to facilitate the merger and acquisition process of similar public joint stock companies to enhance administrative and financial efficiency and improve the services and products provided by these companies. The Council decided in its meeting held on 26/4/2011, based on the recommendation of the Economic Development Committee issued from its meeting held on 19/4/2011 - and in reliance on the provisions of Article 1(b) of the Public Funds Exemption Law No. (28) of 2006 - to approve granting these companies the following exemptions and benefits until 31/12/2011:

1. Exemption from fees, allowances, and commissions charged by supervisory bodies and according to the sector resulting from the merger process, for one time only.
2. Exemption from (50%) of property transfer fees and full exemption from capital increase fees.

Please accept our highest respect.

Prime Minister
[Signature]

Copy to His Excellency the Minister of Industry and Trade / Chairman of the Board of Directors of the Insurance Commission Copy to His Excellency the Minister of Finance Copy to His Excellency the Chairman of the Securities Commission Copy to His Excellency the Governor of the Central Bank of Jordan Copy to His Excellency the Auditor General Copy to His Excellency the Secretary General of the Council of Ministers Decision No. (747) Copy to the Directorate for Documentation and Follow-up of Council of Ministers and Ministerial Committees Decisions S