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Deputies discuss currency exchange bill
By JT - Aug 30,2015 - Last updated at Aug 30,2015
AMMAN — MPs on Sunday linked the licensing of currency exchange agencies to gaining approval from the Central Bank of Jordan (CBJ).
A majority of MPs, during Sunday’s Lower House session, passed a provision in the draft law governing money exchange work, stipulating that no money exchange shop shall be officially registered at concerned institutions unless it gains the initial approval of the CBJ board, the Jordan News Agency, Petra, reported.
Under 2015 amendments to the 2005 law governing currency exchange, the CBJ’s jurisdiction in licensing and regulating exchange agencies was expanded.
As endorsed by the Lower House’s Economic and Investment Committee and passed by a majority of lawmakers, exchange shops require approval from the CBJ board in order to be able to recruit non-Jordanians, and under a set quota.
The law, according to its validating reasons, is aimed at regulating the exchange business in the Kingdom.
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