Perspectives

Central Bank of Jordan Corporate Governance Code is out

Are you ready?

As part of its continuous efforts to enhance transparency and efficiency within the banking sector, the Central Bank of Jordan (CBJ) issued a new corporate governance code for banks on September 30, 2014, which supercedes the initial corporate governance guide issued by CBJ in 2007.

The CBJ code contains 23 articles covering 13 key topics detailed below:

  1. Board Composition
  2. Board Meetings
  3. Board Roles & Responsibilities (including authority limits)
  4. Board Committees
  5. Board & Executive Management Appropriateness
  6. Board and Executive Management Evaluation and Remuneration
  7. Conflict of Interest
  8. Internal Audit
  9. External Audit
  10. Risk Management
  11. Compliance Department
  12. Stakeholders’ Rights
  13. Disclosure & Transparency
Central Bank of Jordan Corporate Governance Code is out
Did you find this useful?