Trade Financing

Banking System
The Central Bank of Jordan (CBJ) is the Kingdom's monetary authority that controls and regulates banking operations. There are twenty one (21) licensed banks in Jordan, 9 of which are commercial banks, 2 Islamic, 5 branches to foreign banks and five are investment banks.

Laws and Regulations
A Royal Decree endorsed the new Banking Law No. 28 issued in 2000 which became effective from 1/8/2000.

The Central Bank issued regulations related to group credits. These guidelines aimed at giving more flexibility to the banks in taking credit and investment decisions.

Under Article 3 of these regulations, banks were to stop applying for Central Bank approval when extending or renewing credits to their clients. The regulations sated that the maximum credit to be extended to any person and/or associated party should not exceed 25% of a bank's capital.

For further information, please contact the Central Back of Jordan at the following address:
Central Bank of Jordan
P.O. Box (37)
Amman 11118-Jordan
Tel: +962 6 4630301/10 (10 Lines)
Fax: +962 6 4638889