Regulatory Alerts2009-02-09
Added · Updated
Procedures for the Branching of Money Exchange Companies
The Central Bank of Jordan mandates that licensed money exchange companies submit written applications with a three-year feasibility study to open branches within their home governorate, while Limited Liability Companies retain the right to branch in all governorates. Applicants must secure initial conditional approval by providing a certified registration copy, appropriate premises, a guarantee equivalent to 10 percent of the minimum paid-up capital, and a 20 percent capital increase. Final approval requires the branch to conduct the same transactions as the head office, comply with existing laws, and notify the Central Bank of Jordan of its launch date.
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