{"id":185279,"date":"2021-01-22T20:12:02","date_gmt":"2021-01-22T20:12:02","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=185279"},"modified":"2021-01-22T20:12:08","modified_gmt":"2021-01-22T20:12:08","slug":"jordans-central-bank-decision-regarding-cash-dividends-details","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/jordans-central-bank-decision-regarding-cash-dividends-details\/","title":{"rendered":"Jordan&#8217;s Central Bank decision regarding cash dividends\u2013details"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Jordan&#8217;s central bank decided to allow all licensed banks in the Kingdom to distribute cash dividends to shareholders. However, banks shouldn&#8217;t distribute more 12% of the paid-up capital if the bank achieved profits in 2020, the central bank said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Central Bank said its decision comes as operating banks&#8217; liquidity and solvency levels are comfortable.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In 2019, the Central Bank banned banks from distributing cash dividends. The move aimed at strengthen their solvency in light of the Coronavirus risks.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The statement said the profit distribution process is conditioned to whether the bank achieved profits in 2020 or not. The distribution of profits shouldn&#8217;t violate law requirements and instructions regarding the regulatory capital adequacy ratios and statutory liquidity ratios, the central bank said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The central bank&#8217;s board of directors issued the dividend distribution decision.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Jordanian banking sector has 25 local and foreign banks, including four <a href=\"https:\/\/en.wikipedia.org\/wiki\/Islamic_banking_and_finance\">Islamic banks<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Central banks in some countries ban cash distributions to strengthen banks steadfastness in facing the Coronavirus challenges.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>Banning cash dividends distribution<\/strong><\/h5>\n\n\n\n<p class=\"wp-block-paragraph\">Similarly the Central Bank of Egypt prohibited Egyptian banks from distributing annual or withheld distributable cash dividends to shareholders.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Central Bank of Egypt said it would &#8220;not permit banks to distribute cash from the general profit or retained earnings to shareholders to confront risks that may stem from the continuing COVID-19 crisis.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Central Bank of Jordan was established in 1950 according to Central Bank of Jordan law issued in 1959. It started to be operational on October 1, 1964.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Related:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.bnreport.com\/jordan-sales-and-income-tax-collections-increased-by-8-over-2019\/\">Jordan Sales And Income Tax Collections Increased By 8% Over 2019<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jordan&#8217;s central bank decided to allow all licensed banks in the Kingdom to distribute cash dividends to shareholders. However, banks shouldn&#8217;t distribute more 12% of the paid-up capital if the bank achieved profits in 2020, the central bank said. The Central Bank said its decision comes as operating banks&#8217; liquidity and solvency levels are comfortable. [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":185280,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[189,278,800],"class_list":["post-185279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-banks","tag-featured","tag-jordan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Jordan&#039;s Central Bank decision regarding cash dividends\u2013details - Bnreport<\/title>\n<meta name=\"description\" content=\"Bnreport - Finance - Jordan&#039;s central bank decided to allow all licensed banks in the Kingdom to distribute cash dividends to shareholders\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/jordans-central-bank-decision-regarding-cash-dividends-details\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jordan&#039;s Central Bank decision regarding cash dividends\u2013details - 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