Money Exchange Sector Supervision
Money Exchange Supervision Department contributes directly to achieving the strategic goal of the Central Bank in maintaining monetary stability in the Kingdom, ensuring the convertibility of the Jordanian dinar, maintaining the consistency between supply and demand of foreign currencies against the Jordanian Dinar, as well as maintaining financial stability by enhancing the off- site and on- site supervision of money exchange sector to ensure that their work is compliant with the money exchange law no. (44) of 2015, the instructions and regulations in force, and any related legislations.
-:On-Site Supervision
- Licensed Money Exchange companies are subject to inspections of their work by the Central Bank through doing the following:
- This is done to check and make sure that their work progresses in accordance with the provisions of laws, instructions and regulations that govern their activities, especially the effective Money Exchange law, regulations, issued decisions, and Anti money laundering and counter terrorist financing instructions.
-:Off- Site Supervision
The off-site supervision on licensed money exchange companies is performed throw the following:
- Receiving statistical data pertaining to money exchange companies, studying and analyzing the financial statements and reports relating to the work of these companies and providing the appropriate recommendations.
- Analyzing and studying the financial statements of the money exchange companies and making the appropriate recommendations, along with receiving and studying the reports of their external auditors.
- Studying the money exchange companies' requests concerning the following:
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Opening foreign currencies dealing lines with any party outside the Kingdom for any purpose.
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Opening bank accounts for these companies with banks abroad.
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Getting credit facilities