Regulatory Alerts2022-11-16
Added · Updated
Renewal of License for 2023
The Central Bank of Jordan requires insurance brokers to submit license renewal applications for 2023 by Thursday, November 24, 2022. Applicants must provide a completed renewal form, a statement of brokerage activities, a certificate of good conduct, a signed written declaration, an updated commercial register, office lease details, proof of at least fifteen hours of specialized training or conference attendance, and proof of fee payment. The deadline is strictly enforced to allow for the processing of renewal procedures.
In the name of Allah, the Most Gracious, the Most Merciful
[Logo of the Central Bank of Jordan]
Number: 18482 Date: 20/4/1444 AH Corresponding to: 14/11/2022 AD
Dear Insurance Brokers,
Subject: Renewal of License for 2023
Based on the provisions of paragraph (a) of Article (10) of the Instructions for Licensing Insurance Brokers and Regulating Their Work and Responsibilities No. (11) of 2005 and its amendments, which stipulates the following: "The broker must submit an application for the renewal of his license annually, no later than forty-five days before the expiration of the license period, which falls on the thirty-first of December of each year, according to the form prepared for this purpose.
We request that you submit your application for the renewal of your license for 2023, no later than Thursday, November 24, 2022, and you must provide us with the following:
- Completion of the license renewal form available on the website of the Central Bank of Jordan and attaching the requirements specified therein.
- A statement of insurance brokerage activities conducted in the Kingdom during the year, according to the form prepared for this purpose.
- A certificate of good conduct from the competent authorities.
- Signing the attached written declaration in accordance with the provisions of Article (22) of the Law Regulating Insurance Business No. (12) of 2021, by each insurance broker and the employees authorized to conduct insurance brokerage activities.
- Providing us with an updated copy of the commercial register or a company registration certificate from the Companies Control Department, as appropriate (extracted from the website).
- Clarifying the detailed address of your office location and providing us with a recent copy of the lease contract for your office.
- Providing us with evidence of your enrollment in specialized training courses in insurance business or your participation in conferences or seminars in insurance business for a duration of no less than fifteen hours.
- Payment of the annual fees due and attaching the deposit receipt.
We emphasize the necessity of submitting the application by the specified deadline above so that we can proceed with the procedures for its study and take the necessary action. Please note that the aforementioned forms are published on the website of the Central Bank of Jordan (www.cbj.gov.jo).
Accept our highest respect,
The Central Bank of Jordan
Copy to: The Jordanian Association of Professional Insurance Brokers
P.O. Box 37, Amman 11118 - Jordan • Phone: 4630301 • Fax: 4638889, 4639730, 4613300 e-mail: info@cbj.gov.jo website: www.cbj.gov.jo