The Terms and Conditions hereunder shall constitute a complementary part to the account opening application form (“Application”) submitted and signed by the applicant (hereinafter referred to as the “Customer”) for the purpose of opening an account (“Account”) with any of Jordan Ahli Bank Branches in Jordan (the “Bank”).   

The Customer hereby acknowledges and confirms that he/she has read and understood the Terms & Conditions stated hereunder, and by signing the Application, consents and agrees to the application of said Terms & Conditions to the Account.

Using the website services / electronic banking services / banking operations within the branch of Jordan Ahli Bank constitutes your unconditional agreement to be bound by and comply with these Terms and Conditions.

The Bank reserves the right to amend the Terms and Conditions at any time and such modifications shall become effective upon their publication on the Website. The Customer shall be solely responsible for being regularly informed of the Terms and Conditions and the latest amendments made thereto. The Customer’s continued use of the website/electronic services/banking operations shall constitute their acceptance of such amendments. 

Where the Customer is a legal entity or judicial person, the individual accessing the Bank and its services on the legal entity’s behalf is implying they have authority to agree and comply with these terms and conditions on their behalf.

The following word and phrases shall have the same meaning ascribed to them hereunder unless the context otherwise dictates:

Bank: Jordan Ahli Bank or any of its branches.

Account Holder, Customer,

and Client: any natural or juridical person(s) who deals with the Bank in relation to any of the accounts as specified in this form and who signs this form and the application for account opening and the application for a Debit Card / Cards in his capacity as the Account Holder or a party to the Account, whether such account is a joint account or an additional Cardholder.

Account: the account or accounts opened with the Bank in local or any other currency, interest bearing or non-interest bearing.

Expenses: All stamp duties, post, telephone, telegraph, telex, transportation and travel, and notification charges, foreign exchange differences, collection fees and commissions, all other banking costs and commissions, any fees (including legal and expert’s fees) and/or any other expense the Bank may incur as a result of litigation, arbitration and enforcement of judgments and securities.

Account No.: The Bank shall assign a number for each Account, which shall be used by its holder on all the correspondences with the Bank in relation to said account, and for any withdrawal or deposit and other operations (from or into the account).

Electronic Services: The electronic services listed in these Terms and Conditions which are rendered by the Bank to the Customer.

Debit Card: An electronic card that is used and granted by the Bank whether with local, international or regional trademarks which enables its holder to withdraw cash from the ATMs of the Bank or of other banks (in the event of existing agreements for the use of such a card through other ATMS, whether locally or internationally), in addition to cash deposit service or payment for purchases through direct debit from the holder’s account, as this Card can be used only for the amount available in the account / linked accounts’ balance.

Personal Identity Number (PIN): A four-digit number that is given to the Customer either by a sealed envelope, by text message on his / her mobile phone number, or manually entered by the Customer on a (PIN PAD) device for use simultaneously with the transaction executed by the Customer. The Customer acknowledges that his/her use of the PIN is equivalent to his/her signature or authorization to allow the Bank to debit the account with the amount of the transaction.

PAW (Payment Applications World): An account that it is opened to natural and juridical person(s) and is free to withdraw and deposit at any time through electronic channels, and it is not allowed to give the account holder a cheque book, does not receive credit interest on this account and is considered the least expensive for the bank.

1. Customer hereby grants the Bank an absolute, unconditional and irrevocable right and permits the Bank to inquire about him/her at the Department of Dishonored Cheques at the Central Bank of Jordan and or at any other bank or credit information company, and the Bank shall be exempt from any liability that may result from this.
2. The Bank shall have the right to debit any of the accounts of the Customer with all the expenses, fees, interest, commissions, taxes, and stamp duties that the same incur or bear on behalf of the customer, or those which result from any transaction between the Bank and the Customer.
3. The Customer hereby authorizes the Bank to debit his/her Account thereof with all the amounts that become payable by the Customer to the Bank, relating to all types of commissions, any issued discounted or guaranteed promissory notes, issued guarantees, bought securities, or otherwise. In the event the Customer is in default of his/her contractual obligations, and after being notified of such default on his/her registered address that is specified in the records of the Bank, the Bank will, at any time, freeze or close any account opened in the name of the said Customer notwithstanding the existence of any guarantees or warranties given to the Bank with respect of such accounts, the Customer shall be required to pay any outstanding balance due thereon, in addition to any dues to the Bank, whether interests or else.
4. The Bank shall have a full right to seize, for its own benefit, all the monies, securities, and commercial papers deposited with the Bank, as well as all debt accounts, deposits, and any other monies of whatever nature belonging to the Customer and is or anticipated to be under the possession of the bank (whether currently or in the future), in whatever account or branch of the bank, and the Bank shall have the absolute right to detain any amount that the Customer owes the Bank; such amount shall be considered as insurance and guarantee for the payment of any amount, interest and/or costs due to the bank as per its records with respect to the accounts of the Customer, and the Customer hereby waives his/her right to object the amount owed, whereby the records of the Bank shall be conclusive, irrefutable and binding on the Customer and the Bank.
5. The Customer authorizes the Bank to dispose, with its absolute discretion; of any withdrawals that take place, with the knowledge of the Customer, in the form of cheques, transfers, payment orders or any other form of transfer by overdrafts from the current Account of the Customer, by guaranteeing other deposits of the Customer with the Bank. The Customer authorizes the Bank to transfer the deposit(s) into a cash guarantee account in exchange for banking facilities, and that the payment of the said deposit shall be made once such amounts become due; and authorizes the Bank to do the aforementioned without consulting the customer and without any prior notice or warning or any other legal procedures, and the Customer shall not revoke such authorization except with the written consent of the Bank.
6. The Customer’s signature as it appears on the Bank card specified for such purpose shall be considered the authenticated signature in respect of all its Accounts and transactions with the Bank; in case any application or order for payment of a cheque carried a different signature than the one illustrated on the Customer’s Bank card, the Bank may, with its absolute discretion, execute the transaction or refrain from doing so, even if a confirmation letter or approval from the Customer is provided.
7. The Customer acknowledges that the Bank’s books, accounts and ordinary records and/or those resulting from the use of electronic and technical tools and of whatever type are considered correct, conclusive, and binding on us, and we shall not object against or contest the same in the future for whatever reason, unless the Bank receives from the Customer a written objection thereon within a period of (15) days from the date of sending the statement or any record, notice or else. The Customer hereby finally and irrevocably waives his/her right of requiring the statutory oath to the Bank’s chairman of the board of directors, the members of the board of directors, the general manager, the chief executive officer and / or any of the employees of the Bank in respect of any proceedings that relates to the Bank, whether civil or criminal, and for whatever reason.
8. The Customer shall accept cash deposits credited into the Account by any third party unless the third party submits a written request that such deposits shall be declined, and such a request shall become effective the next business day after its submission. The Customer shall have the right to object to any deposit transaction made on his/her Account.
9. The Bank shall accept objections against the encashment of any cheque in case a written and signed request of objection was submitted by the Customer on the form accepted by the Bank in accordance with the provisions of the law.
10. The Bank shall not bear any responsibility in respect of any change in the Customer’s cheques withdrawn from the Account where the blank spaces of the cheque are filled with a typewriter, electric writer, or any other typing means.
11. The Customer shall discharge the Bank in writing from any liability where the Customer requested keeping records of the correspondences with the Bank’s approval, the Customer shall waive his/her right to claim any damages, or invoke any liability that may result from the aforementioned, and the Customer acknowledges that the address of the Bank is the approved address for correspondence, and that such address is a valid address for the service of correspondence addressed thereto in accordance with the provisions of Article 25 of the regulations of fair and transparent client transactions No. 56/2012 and any amendment thereof.
12. The Bank shall have the absolute right to off-set the amounts deposited in the debt accounts of the Customer against any credit account in any of the branches of the Bank, where such setoff was not made, the Bank may charge interest on the debit accounts, and the Customer hereby shall waive its right to object against not implementing the setoff.
13. In case of the Customer having several commitments towards the Bank whether by way of loans, overdraft, credit cards or any other facility, the Bank has the right to choose the account or the facility or loans to cover without any responsibility.
14. The Bank shall not be obliged to meet the Customer’s requests of foreign currency from its foreign currency Accounts unless such currency is available in the local market, and provided that the maximum withdrawn at one time be the amount specified by the Bank from time to time, and the Bank shall be notified at least two business days in advance of the withdrawal.
15. It is understood that any cheque deposited for collection in the Bank’s account will be deposited with you, the bank will present it in accordance with the usual procedures and during a reasonable period of time, and I declare the bank of any liability arising from the delay in submitting the cheque for collection or delay in the collection process and depositing the cheque in my account for any reason.
16. The Bank reserves its right to close or refuse the opening of any Account without showing any reason, where it becomes evident that any document or information provided by the Customer was untrue, or that the Customer’s name is listed on the blacklists, or upon the Bank’s absolute discretion.
17. The Customer represents and acknowledges that the Bank shall bear no responsibility nor obligation as a result of the deficit, or the decrease in the value of the amounts charged on any of his/her Accounts with the Bank, or for the non-availability of such amounts as a result of forfeiture, compulsory transfers, attachments of any type, national strike, national unrest, or for military, political reasons, or other reasons, force majeure or emergency situations of whatever type of nature, so long as the same are beyond the control of the Bank, in which case the Bank and any of its branches, offices, and affiliates thereof, shall not be responsible for the consequences of the aforementioned on the Accounts of the Customer, this shall also include any judicial or administrative attachment applied by whatever entity, in course of any proceedings, even if the Bank nor the Customer were not parties thereof, and whether the same was civil or criminal.
18. The credit of amounts through checks (available for collection or direct deposit) or any other instruments shall be considered temporary, the same may not become final except from the date the same are duly collected, where the collection was not successful, the Bank shall reverse such entries in the systems and the records thereof, and such reversal shall be applied to the Account on which the same were credited, and the Customer acknowledges that the systems and the records of the Bank shall be considered final and conclusive evidence on the due balance of the Customer in the Account(s)thereof, and the Customer authorizes the Bank to reverse any such entries made on the Account in error or negligence, and the Customer discharges the Bank from any liability whatsoever resulting from such error or negligence, and the Customer undertakes, upon discovery of any such error, to notify the Bank and to return any amounts the same withdraws from amounts entered into his Account in error, upon the same becomes knowledgeable thereof, and / or upon the first request and without objection by the Customer.
19. The Customer absolutely agrees that all the amounts, monies, shares, bonds, documents, papers, and valuable items and properties related to him/her, whether under the possession of the Bank, deposited in his/her Account, and/or in his/her safe locks, and whether in the branches of the Bank in Jordan or abroad, shall be considered a guarantee for the payment of any debts due /on any of the debts in the Customer’s capacity as creditor and/or guarantors for the benefit of the Bank, notwithstanding the reasons for such debt, and whether the same is actual or anticipated, and the Customer irrevocably and absolutely authorizes the Bank to act on or sell the same whenever the Bank so desires, in the method and for the price that the Bank deems appropriate, all without the need to refer to the Customer, serve notice or a warning, or otherwise, and without the Customer having any right to object or appeal against such actions.
20. The value of the cheques shall be credited to the Customer’s Account pursuant to the arrangements with the Bank as a collecting agent. This document does not entitle the Customer to withdraw the value of these cheques before collection is completed and the Bank reserves the right to retract and complete the opposite action in case of the bouncing of any of these cheques for any reason. The Bank shall not be held responsible for the legality, validity and accuracy of the signatures and endorsements of the cheques.
21. The Bank will not be responsible for any loss, damage, or failure to provide, clam, collect the cheque nor will it be responsible for sending notice of non-payment or the bouncing of the cheque.
22. The Customer shall be responsible for any claim or demand as a result of any fraud or misrepresentation in attached cheques or any endorsement affixed thereon. The Bank is obliged in the event of any matter related or could be related to a crime or illegal act to notify any official body due to banking law and Central Bank of Jordan rules and regulations.
23. The Bank shall not be responsible for any error in the entry of the information and the Bank is entitled to correct any error in the deposit form and notify the Customer. This form shall not be considered legal and valid unless stamped and signed by the Bank.
24. When the Bank receives cheques with their collection fee, it does so in its capacity as a collecting agent. The Bank shall not be responsible for the collection of the value of the cheques and shall not be held responsible for the legality, validity and accuracy of all signatures and endorsements on the cheques deposited with the collection fee
25. The Customer shall be responsible for any claim or allegation due to any fraud or misrepresentation in attached cheques or any endorsement installed by him/her. The Bank is obliged to report any matter related or could be related to a crime or illegal act and to notify any official body pursuant to banking law and Central Bank of Jordan rules and regulations.
26. The value of the cheques is to be credited to the Customer’s account pursuant to the arrangements between the Bank and the Customer and this action does not entitle the Customer to withdraw the value of these cheques before collection of the value of the cheques. The Bank reserves the right to retract and complete the opposite action by debiting the Customer’s account in addition to any expenses/interest/commissions that may be incurred in the event of any bouncing of any of the cheques for any reason. The Customer acknowledges the Bank is free of any liability related to the legality related to the cheques.
27. The Customer shall absolutely authorize the Bank, (in case of suspicion of a money laundering or any possible illegal transaction in respect of any of his/her Accounts with the Bank) to refrain from executing any transaction on the Account, freeze the Account, and carry out the necessary procedures.
28. The information and data submitted by the Customer is subject to banking confidentiality.
29. The Customer shall not object to the possibility of the Bank freezing or suspending any of the Accounts of the Customer, seizing any of the amounts received that are due to the Customer which will be for the benefit of the Customer from any source and restricting the Account management of its expenses account on the basis of the cost of maintaining the Account open on the records of the Bank, and the Customer is not entitled to object / appeal against such charge.
30. The Account shall be considered frozen in case of no withdrawal from or deposit into the Account, depending on the period specified below, which shall start from the date of the last withdrawal / deposit:

                  A – Six months for current and demand accounts.

                  B – Two years for saving accounts.

                 C – Three years for term deposit and notice accounts.

The periods stated above are subject to changes by the Bank in case of any new regulations issued by Central Bank of Jordan.

31. No credit or debit transaction – except cash withdrawal transaction – or the encashment of a cheque shall be considered a sufficient reason to reactivate a frozen Account.
32. The Customer understands that where the balance of his/her Account remains below the minimum limit set by the Bank, or where the Account becomes frozen, the Customer authorizes the Bank, at any time,, to charge the Account with a low accounts commission and the expenses of administrating the account, on the basis of the cost of keeping the Account open in the records of the Bank, and the Customer is not entitled to  object or appeal against the aforementioned.
33. The frozen Account may only be reactivated in the event the Customer, physically refers back to the Bank, or through his/her legal representative pursuant to a notarized power of attorney or an authorization approved by the Bank to request the reactivation of the account, and upon verifying the identity of the Customer or the legal representative thereof, and the signature of the Customer or the legal representative on a declaration confirming the validity of the account balance on the respective date.
34. In the event no balance is in the Account, the Customer, as per his/her absolute will, authorizes the Bank, at any time he/she deems appropriate, to close the Account without presenting any reason. As such, the Customer discharges the Bank after closing the Account, from executing any orders previously made by the Customer in respect of the closed Account, whether related to suspended cheques, fixed orders, and/or any other procedures even if the Account was reopened for different reasons, and without the Bank bearing any liability of the results of such an action, and the Customer hereby irrevocably waives in advance, any right that may be used against the Bank. The Customer undertakes to return the cheque book(s) in its possession upon closing its Account, and the Customer irrevocably and absolutely authorizes the Bank to close the Account(s) with the Bank in the event of misappropriation or abuse of the Account(s) such as, the issuance of overdrawn cheque, without the Bank bearing any responsibility of the aforementioned.
35. The Customer understands that all foreign currency deposits in and withdrawals from its Account(s), as well as related expenses and interests are subject to the instructions of the Central Bank, and/or the administrative instructions applicable to the Bank.
36. The Customer is obligated to notify the Bank with any change in respect of the names of the authorized signatory(ies)of his/her Account(s), the conditions applicable to their signatures, the scope of their authority, or any change in the type, legal standing, objectives, or capital of the company, and in general any changes to the legal status of the company. Once the changes have taken place, the Customer acknowledges that it bears any liability arising from failure to implement the said changes except from the date the Bank receives the Customer’s letter informing of such a change, and the Bank is entitled to uncashed any cheques or payment orders in the event they were received or are dated  to the date of the change of the authorized signatories. As for cheques and payment orders signed by the previous authorized signatories, which hold a later date than that of the amendment change of the authorized signatories, these orders which had been received prior to the date of the amendment, may be implemented by the Bank.
37. In case of the death of any authorized signatory or the authorized signatory, the Bank shall have the right to suspend the account until the company changes the authorized signatory pursuant to the due certificates.
38. It is forbidden for the Customers of the Bank to use their personal account for commercial purposes.
39. The non-Jordanian Customer agrees to provide the Bank with an updated copy of its registration certificate, at the Bank’s request and the Bank has the right to phase out /stop some of the financial transactions and services provided to the Customer in case that the Bank is not provided with this.
40. The Bank is entitled to reject or refuse any power of attorney in the event it was issued or organized at a date outside the specific period determined by the Bank’s bylaws and regulations.
41. A- The Customer(s) agree(s) that the Bank shall notify the Central Bank of Jordan and/or any entity that it approves, as well as any other entities that are entitled to receive and/or request information as applicable and required by the Jordanian banking law and in accordance with any other applicable law of any withdrawn or returned cheques by the Customer(s) on any of their Accounts with the Bank, for any reason. The Bank shall apply the provisions of the Instructions for the Returned Cheques Unit no. (55/2011) issued by the Jordanian Central Bank in this regard.

B- The Customer is entitled to authorize representatives on its account pursuant to a banking authorization letter approved by the Bank or a notarized power of attorney that is referred to legal authorities accredited by the Bank to verify its accuracy and validity. and the representatives shall be entitled to the same privileges as the Customer within the scope of the authorization letter or the power of attorney. In the event  such authorization is cancelled, the Bank shall be notified of its cancellation in writing and/or by fax or by electronic services, or in person, and the Bank shall, as per its absolute discretion, dispense all the amounts of checks and other instruments signed as per the previous authorization in case the same carry a prior date, and are submitted after the new instructions issued subsequently by the customer.

42. The Bank is entitled to close, suspend or freeze the Account in the event the Customer refuses or does not respond to the Bank’s request to update its information and/or data during the period specified by the Bank.
43. The Customer acknowledges, where it has signed to these Terms and Conditions, they shall apply to its current Accounts and any other subsequent Account opened in the Bank. These terms and conditions are approved by the Bank whereby its contents shall apply to all Accounts in the Bank.
44. The address provided in these Terms and Conditions shall be the Bank’s only approved address, and the Customer declares and agrees that all the correspondences and notices sent to the Bank on the mentioned address, including notices and legal proceedings relevant to Account(s), shall be considered notified  and received by the Bank, and shall be binding and considered evidence against the Bank upon such receipt, so as sent to the Bank  on the mentioned address shall be considered as such, and the Bank hereby waives its right to raise any objection in this regard, including the rebuts that the notices are invalid before any entity, and this shall be considered a non-reversible, irrevocable waiver of such right by the Bank.
45. The Bank undertakes to notify the Customer in writing of any change of the Banks’s address as provided in this application; otherwise, the address provided herein shall be considered the approved legal address for all the correspondences and transactions resulting from this application or pertinent thereto, including notarized notices and the service of notices relevant to judicial notifications.
46. The Customer authorizes the Bank, as per its discretion, to overdraw the Account, to restrict the interests payable to the Bank on the account, to credit the account with the values of promissory notes, cheques, and any other of the Customer’s documents or papers that are in the possession of the Bank, whether those for collection or in any other form, and to credit the Account with the balance of any other account opened in the name of the Customer with the bank or with any other branch thereof as a coverage or an insurance for the payment of all the obligations of the Customer towards the Bank, and the Bank shall have the right to set off the balances of all the accounts opened in the name of the customer with the bank, including the accounts open in any other currency, and over drafting the account, whether by the withdrawal therefrom or by making entries thereto shall not be considered as a consent by the bank to grant overdraft / uncovered facilities, but rather a privilege given by the bank to the customer which shall be paid within a period of no more than thirty days from the date of any overdraft.
47. In case the Customer received any banking facilities of whatever nature, and in case of nonpayment, the Bank shall transfer such amounts to the cash guarantees account, in order to ensure the payment of the Customer’s granted loan, and the Customer fully authorizes the Bank to charge its account with any amounts due on the Customer in addition to the debit interest and any other expenses after the Bank has requested repayment of the outstanding amounts due to the Bank; such obligations shall be set off against the cash amounts seized in the cash guarantee account in return of banking facilities without referring to the Customer and without the need to give any notice or any other prerequisites, and the Customer is not entitled to object against such measure, being a legal measure for which the same has given prior approval, and the Customer acknowledges that the cash guarantee account is an internal account of the Bank, of which the same many not dispose of, and the same is for the order, and in the name of the Bank and / or in the name of the bank / the name of the Customer.
48. The Customer hereby freely gives the Bank consent to collect, use, disclose, share, transfer and process his personal information / data set out in his application form, account opening documents and / or otherwise provided by him or possessed by the bank, for one or more of the purposes as stated in the Bank’s privacy policy [https: / / ahli.com / privacy-policy], which in summary includes but is not limited to the following: A) processing applications for and providing the Customer with the services and products of the Bank as well as services and products by external providers provided through the Bank. B) administering and / or managing the Customer’s relationship and / or Account(s) with the Bank. C) sending the Customer marketing, advertising and promotional information about other products / services that the bank, the bank’s affiliates, business partners and related companies may be offering, and which the bank believes may be of interest or benefit to him (“Marketing Messages”), by way of postal mail , telephone, text message, electronic mail, facsimile or other mean (as set out in any application form, account opening documents and / or otherwise provided by the Customer or possessed by the bank); (collectively the “Purposes”).
49. The Customer hereby acknowledges and agrees that its personal data may / will be disclosed by the Bank to its third-party service providers or agents (including its lawyers / law firms), which may be sited outside of Jordan and the European Economic Area (EEA), for one or more of the Purposes, as such third-party service providers or agents, if engaged by the bank, would be processing the Customer’s personal data for the Bank for one or more of the Purposes.
50. By signing these Terms and Conditions, the Customer give its explicit consent as is required under the applicable legislation for this processing.
51. The Customer hereby acknowledges and agrees that the Bank shall process the Customer’s personal data by means of automated reading, verification of the authenticity and other automated processing of photos and scanned copies of documents and with further check against the data in multiple databases, including inter alia International politically exposed persons (PEPs) and Sanctions, Country Specific Sanctions Lists, Criminal Lists and Financial Lists.
52. The consent for the processing expressed hereby covers the following operations: collection, recording, organization, structuring, storage, adaptation or alteration, retrieval, consultation, use, disclosure by transmission, dissemination or otherwise making available, alignment or combination, restriction, erasure or destruction.
53. The Customer hereby represents that it has been informed of the fact that its biometric personal data will be processed, and it hereby gives his voluntary, unequivocal and informed consent hereto.
54. The Customer hereby represents that it has been informed about its right to: A)withdraw its consent to personal data processing at any time, if it does withdraw its consent, this will not affect any processing which has already happened, or any other processing of its data not in relation to this consent but will mean that the Bank will stop processing its data for the purposes outlined above. B) access and adjust its personal data. C) make a justified demand in writing for the blocking of the processing of its data due to situation. D) object to the processing of its personal data. E)object to the transfer of his personal data, including the right to object to engaging any of the Bank’s contractors to processing his personal data. F) object to being subject to a decision based solely on automated processing / profiling G) make a justified demand in writing to erase his personal data subject to applicable laws. H) all which rights may be exercised by contacting the bank at No (06-5656300).
55. The Customer understands that if it is dissatisfied with how the Bank uses its data, it can make a complaint to any government body in charge.
56. All messages whether, registered and / or standard and / or sent by facsimile and / or microfilm and / or scanned and / or SMS extracted by the Bank for its records, books, accounts and the contents of its files are considered legal evidence, in which the borrower / client and the guarantor(s) waive beforehand any legal right that allow them to appeal and / or require a conclusive oath from the Chairman and the Board of Directors members of the Bank, its General Manager or any of its employees.
57. The Customer hereby represents that it has carefully read and understood all the above provisions and does voluntarily and unequivocally agree with them.
58. The Bank shall abide by the provisions of the Temporary Law on Governmental Appropriation of Lapsed Monies No. 35 of the Year 85 and its amendments or replacements.
59. Customers’ Complaint Resolution Unit (the “Unit”) shall be considered the sole reference for reviewing and processing the complaints of the Customer, and in case of any complaint, the Customer may contact the Unit though various communications means, whether through appearing in person in the office of the unit, or through paper or electronic mailing services.
60. These terms and conditions shall be subject to the laws of the Hashemite Kingdom of Jordan, and in case of any conflict and dispute between the parties, the Court of Amman, Palace of justice shall be the competent court as regards to any case or claim from the side of the Customer against the Bank, or from the side of the Bank against the Customer; and the Bank may, upon its absolute discretion, recourse to any court inside or outside the Hashemite Kingdom of Jordan, if it so desires, with regard to the place of residence of the Customer, the relevant branch, or the place where monies of the Customer exists is in a foreign jurisdiction, and the Customer shall bear all the fees, legal expenses, and attorney fees in case the Bank raised a lawsuit of any claim relevant to the Account and the Customer hereby absolutely and irrevocably authorizes the Bank to charge the same on the Account of the Customer.
61. These terms and conditions shall apply to all juridical persons, e.g., companies, associations, institutions, municipalities, and any other artificial (juridical) person in accordance with the provisions of the law.
62. The instructions issued by the Central Bank of Jordan regarding the Financial Consumer Protection Instructions No. (18/2018) and the Rights of Persons with Disabilities Law No. (20) of (2017) shall be apply.
63. The Bank is not responsible for cashing the cheque / cheques due to errors or omissions and / or the incorrectness of the data provided to the Bank by the Customer.
64. To notify you in writing of the cancellation or suspension of any order issued by me / us to cash the cheque / cheques.
65. In the event that a request to reserve an amount (insurances) is not submitted for the purposes of stopping the cash disbursement and / or there is not enough balance available in the account, then it is understandable to me that I will be notified for the purposes of including my name on the list of returned cheques unit unless I provide the bank with what was stated in term (18) above.

1. The Customer acknowledges and understands that in case of no sufficient balance existed in its account (external automatic payment only) in the number of pre-determined occasions as set by the Bank; the Bank may terminate its instructions.
2. The Customer acknowledges and understands that any fees become due on its account (including any commission, post or stamp duties) and shall be debit of its mentioned account without any objection from the Bank.
3. The Customer acknowledges understands that the Bank shall bear no responsibility for any loss or delay that may affect any transfer or dispatch and / or any request of monies or (in case of any wire transfer) of any errors, or distortion that may affect the dispatch of any message or the interpretation thereof upon receipt, and the Customer agrees to compensate the Bank for any transactions, lawsuits, legal proceedings, requirements and / or requests that may result from such loss, error, omission, distortion or misinterpretation.
4. The Customer authorizes the Bank to assert any information and / or documents requested by any other entities, that the Bank has right to notify in accordance with respective law or transaction or services nature provided by the Bank or requested by the Customer, and the Customer also authorizes the Bank to exchange information or documents with other banks or if needed pursuant to the AML regulations adopted locally or internationally.
5. The Account of individual institutions owned by individuals is considered the same as accounts opened by the owners of these individual institutions and the authorization issued by the owners of these institutions will be consider binding on their personal accounts as well as their individual institutions accounts.
6. The Customer will take full responsibility of any occurring risk in the event he accepts to send instructions to conduct transactions using Fax or Telex or Phone or E-Mail, and the bank shall bear no responsibility for any occurring risk resulting in acting on customers request sent by any of the above-mentioned means.
7. The Customer undertakes to provide the Bank with all requested documents and within the specified period set by the Bank otherwise the bank has the right to close all Customers’ Accounts.
8. The Bank does not bear any responsibility for filling out the data in terms of the beneficiaries’ account numbers or the IBAN or their full names. The Bank is not responsible when the other bank to whom it is transferred refuses not to record the amount in the beneficiary’s Account due to a mistake in the data or for any other reason.
9. The Bank does not bear any responsibility if the name of the beneficiaries is mentioned on any of the lists approved by the Bank who are prohibited from dealing with them, whether internal, local, regional or international.
10. The Bank and its employees work according to the normal working conditions, therefore the Bank or its employees do not bear the slightest responsibility in any circumstances that lead to delayed execution of the standing order or loss or damage and arise from causes outside its control, and the Customer bears all risks related to each process of executing the standing order.
11. The Bank has the right to choose the methods of executing the standing order in the manner it deems appropriate.
12. If the date of execution of the standing order coincides with a time outside of the normal working hours and/or during a holiday, then the working day following the holiday shall be considered the date on which the standing order is executed.
13. In the event that the balance is insufficient to cover the amount of the standing order and the commissions on the execution date indicated, the Bank has the right to implement or not implement the request on that date.
14. The Customer is personally liable in the event where the Bank is exposed to any liability on the part of any person or entity and for any reason arising from the order to execute the standing order.
15. Cancellation of any instructions must be based on a request from the Customer, to be delivered to the Bank seven working days before the date of the standing order.
16. The Customer relieves the Bank of any responsibility or obligation towards it and / or towards the beneficiary if the payment order cannot be executed due to insufficient funds in their Account or due to the issuance of a decision to seize the Account from a competent authority or for any other reason beyond the Bank’s control.
17. In the event that two consecutive payments are due without payment due to insufficient funds in the Account, the Bank shall have the right to consider the payment order null without the notification to the Customer or the beneficiary of the cancellation. The Bank may collect late payments from any deposits subsequent to the maturity date, provided that this does not exceed the due date of the last payment.
18. The Customer understands and agrees that in the event that the total amount to be paid is not specified and the request date of   stopping the payment is not specified, the Bank is authorized to continue executing the standing order if there is sufficient balance in the Account until a written notice is received from the Customer to stop the execution.
19. The Bank or its employees shall not bear any responsibility in the event of non-execution of the standing order in case the balance of the Account transferred from it is insufficient and does not cover the execution value of the standing order and commissions that have been determined despite the availability of a balance in another account, whether in Jordanian dinars or in a foreign currency.
20. The Bank does not bear any responsibility in the event that the transferring Account Holder refuses the transfer and / or requests to return the amount.
21. The Bank has the right to charge all fees, commissions and differences in currency conversion at the rate it deems appropriate and in accordance with the Bank’s internal regulations and instructions every time the transfer is made.
22. The standing order(s) shall be suspended or canceled without authorization from the Customer and according to the following:
    1. By a decision of the branch manager and/or the department to which the Customer belongs to in the event that two consecutive standing orders are due without sufficient balance for implementation.
    2. With the expiration date of the last payment, and there is more than one outstanding payment due.
    3. By the end of the due date of the last payment.
    4. If the Customer’s Account is suspended due to (death or seizure of the balance by a decision of an authorized authority).
    5. The beneficiary has refused the payment order and upon written notice of receipt of the payment (s).
    6. By a decision from the Bank directly without providing reasons.

1. No credit interest shall be credited for credit accounts unless otherwise agreed.
2. The Bank will not accept any cheque drawn on it or deposited with the collection fees unless it is issued on the forms issued by the banks for this purpose, accordingly the Customer undertakes not to withdraw from the Account except by cheques on the form approved by the Bank, and the Bank may, without any responsibility thereon, refuse the encashment of any cheque withdrawn by the Customer if not made on the cheque forms issued to the Customer by the Bank, and the Customer shall undertake to protect the cheques provided thereto, and shall be responsible for any loss or damage that may result from fraudulent or erroneous use of, or the bribery, or losing it, including the loss in the post as from the date the same were sent to the Customer, and the Customer undertakes to notify the Bank in case the same were stolen or lost.
3. The Customer authorizes the Bank, and as per the sole discretion thereof and to allow overdraft and debit the Account with interests payable to the Bank, add them to the balance and authorizes the same to credit the account with the values of promissory notes, cheques, and any other instruments which belong to the Customer and come under the possession of the Bank, whether were for collection or in any other form, and to credit the Account with the balance of any other account opened in the name of the Customer with the Bank, or with any other branch thereof, as a coverage or a guarantee  for the payment of all the Customer’s obligations towards the Bank, so as no balance of other account(s) becomes payable until all the obligations of the Customer towards the Bank are paid, and the Bank shall have the right to set-off amongst balances of the Account(s) opened in the name of the Customer with the Bank, including those in any other foreign currency; any overdrafts allowed, whether by withdrawal from or deposit into the Account shall not be considered an acceptance of the Bank to grant overdraft facilities, but is however a privilege given by the Bank to the Customer, and the Customer shall settle the same within a period of no more than thirty days from the date of any overdraft.
4. Cheque books may only be issued for current accounts.
5. In case the Customer received a cheque book upon the request thereof and with the approval of the Bank, the Customer undertakes to protect the same by keeping it in a safe place, and undertakes to notify the Bank in writing within 24 hours in case any page thereof is lost or stolen, and in all such cases, the Customer discharges the Bank from any responsibility that may result from the aforementioned and / or from counterfeiting any page thereof, and / or dispatching the same by post, and without any responsibility for any incidence that may result from such dispatch.
6. The Bank shall deduct a returned cheque commission without balance / or in the case of insufficient balance on the Customer’s Account of (20) dinars for the first cheque and returned on its Account and (40) dinars for the second cheque returned on the Customer’s Account, whether the same cheque or any other cheque without any increase or decrease in the amount commission, provided that the commission is collected from the Customer’s account, regardless of whether there is balance in the account . The Bank is entitled to modify these amounts in accordance with any modification made by Central Bank.
7. The Bank shall return overdrawn cheques, and shall have the right to notify the Central Bank with the fact in case the amount of the cheque was not settled within a period of 15 working days from the next day after the date it was returned, otherwise the name of the Customer will be added to the list of customers with returned checks maintained by the Central Bank of Jordan, and any customer for whom an overdrawn cheque is retuned, for the non-existence or the insufficiency of balance will also lead to the charge of a commission to be debited to their Account without referring to the Customer, pursuant to Article 421 of the Law the Penal Code No. 9 of the year 1988.
8. The balance of the Account may not fall below the minimum agreed on with the Customer, and as provided in the grant terms, in which case the Bank shall not be obliged to accept any instructions or allow any transaction in respect of the Account if such would result in the Account falling below the mentioned minimum and shall impose the fees on the Customer in this regard.
9. In case the Customer’s Account is over drafted, a debt interest shall be charged for the overdraft in the Account.
10. The Bank shall execute all the instructions issued by the Customer unless instructed otherwise and shall refuse the execution of unclear and incomplete instructions provided that the Customer is notified.
11. The Customer acknowledges that in case of issuing a cheque with a postponed date and this cheque was presented to the Bank on a date prior to the date stated in the cheque, regardless of whether it is stated on the cheque that the cheque will be uncashed on this specific date or not, the Bank will uncashed the cheque if there is an equivalent balance or return it if there was no sufficient funds.
12. The Customer’s objection to uncashed payment of cheques drawn on its account will not be accepted unless the Bank was notified in writing of the Customer’s objection before these cheques were presented for encashment or deposit
13. The Bank has the right to close customer’s current account in the event of having three or more cheques returned for no sufficient or existing balance, and to apply the CBJ’s Regulations of the Returned Cheques Unit.
14. The Customer understands that in the event that a request to reserve an amount is not submitted for the purposes of stopping the cash disbursement and / or there is not enough balance available in the Account, Customer will be notified for the purposes of its name being listed on the list of returned cheques unit unless the Customer provides the Bank with the following: A) Evidence that the cheque holder has been declared bankrupt. B ) Evidence of reporting (to the competent security or judicial authorities) of the cheque (s) have been lost or stolen. C ) That the drawer of the cheque submits a judicial decision that the reason for the objection is legitimate. D ) That the drawer of the cheque submits a judicial decision freezing the procedures regarding the cheque (s). E ) That the drawer of the cheque submits a settlement concluded with the beneficiary. F ) That the drawer of the cheque presents the original cheque.
15. Special Conditions for PAW Account (Payment Applications World):

A )The Account and issued card by the Bank’s website are allowed to register in the Bank’s electronic services.
B ) It is prohibited to use a PAW account to issue a cheque book.
C )It is prohibited to use a PAW account the execution of deposits withdrawals or any other actions through the Bank’s branches.
D ) The Bank has the right to set the limit for deposits, withdrawals and transfers through electronic services for the PAW account.
E )A PAW account is created only in the Jordanian Dinar currency, and the Account freezing method is applied to the PAW account same as to current accounts.
F )Debit card is issued when the account is opened through electronic channels and is delivered to the Customer through mail using mailing company.

1. The balance of the Account may not fall below the minimum specified by the Bank from time to time with regard to the Accounts incurring interest, in case the balance is below the mentioned minimum limit, no credit interest may be credited into the Account.
2. The daily free balance of the Account shall derive a credit interest and as per the published interest rate table.
3. The Bank shall not issue for the Customer a cheque book on this Account, and the Customer may not issue any cheques or payment orders on such Account, noting that the Bank shall not be obliged to dispense amounts form the demand deposit account except with the personal presence of the Customer.
4. In case a company or an institution had opened a saving account, the balances of the saving accounts shall not be subject to the benefits of the Account and programs with awards

1. The Customer shall not have the right to withdraw any amount before the due date.
2. Upon maturity, the Bank shall have the option either to re-hold the amount for an equal period as per the prevailing price at that time or to transfer the same to the current Account of the depositing Customer.
3. In cases of extreme necessity that the Bank approves, the Customer may withdraw the deposit in part or in full before the due date, the provisions of the Instructions of Interests on deposits and facilities no. (14/2002) dated 15/12/2002 issued by the Central Bank, which provides for the penalty of breaking the deposit, interest shall apply in accordance with the following formula:

(The amount of the deposit the agreed price of interest X the term thereof) minus (the withdrawn amount of the deposit X the maximum interest rate as announced in the withdrawal date for term equal to the term of the withdrawn deposit, plus 2% X the remaining period of the withdrawn deposit) or in accordance with any other applicable formula at that time.

4. The term deposit period is a critical factor in determining the payable interest rate.
5. The deposit’s amount or the Account shall be withheld or transferred to the relevant authority in the event of a legal or official decision to seize or transfer the amount of the deposit to any legal, executive or official body, up to the limited amount seized or transferred from the deposit.
6. In case the interest was credited to Customer’s Account in advance , the Bank has the right to recourse for the interest value and has the right to set-off between the paid interest and any account held for the Customer at the Bank or to have the deposit breaking penalty from the deposit itself in case there are no credit accounts or the interest was taken in advance, then the paid interest and the deposit itself will be considered one unit for the purpose of collecting the breaking penalty pursuant to the above formula, and what is meant by the sentence (one unit) is that the collection of the penalty should not extend to the original deposit amount at the time of the period, but the amount can be deducted from the original amount of the deposit in case the interests were received in advance.
7. The Bank shall continue to calculate the interest on the deposit in accordance with the contract between the Customer and the Bank, notwithstanding the application of a precautionary attachment on the account by a competent reference.
8. The balance of the Account shall not fall below the agreed upon minimum as provided, in which case the bank will not be obliged to credit any interest and shall impose the payment of the fees in this regard and close the Account.
9. The Customer shall not object in case an additional deposit was received during the term, that the Bank will either accept the additional deposit to such Account or to open another sub-account for the deposited accounts and hold the same as per the prevailing interest rate of such time.
10. The Customer undertakes to notify the Bank in writing in case it is not willing to renew the deposit one week in advance of the day of its due date, otherwise the Customer authorizes the bank to renew the same for an additional equal period as per the prevailing rates and conditions in the date of renewal, and as per the administrative instructions applicable by the Bank in this regard.
11. The Customer accepts the obligation, under all circumstances, not to request to break the deposit, to withdraw therefrom before maturity, in case the Customer requests to break the deposit or withdraw amounts therefrom, and the Bank approves such request, the Customer’s right in the interest resulting from the withdrawn amount shall be fully forfeited between the date the deposit was held and the withdrawal.
12. The Customer undertakes that the operations of withdrawal and deposit shall be made in the same currency as the Account, and the Customer shall not object, in case the Bank was unable to execute the withdrawals of the customer in the currency of the account, that the customer execute the withdrawal in a different foreign currency, or, if not possible, in the local currency, and as per the exchange rate in the day of withdrawal.

1. The Customer absolves the Bank from any claims which may be made against the Bank in respect of an outward transactions and from any responsibility resulting from failure to properly identify the payee or from any loss, mistake or misinterpretation or from any delay in this matter whether in transition or in effecting payment.
2. The Customer undertakes to pay to the Bank any difference in case of devaluation, revaluation and / or floating of the foreign currency relating to the transaction which the Customer requests the Bank to settle and / or transfer on the Customers behalf including any other costs relating thereto.
3. The Customer declares that the purpose of the outward transaction is legal, and the Customer assumes full responsibility to the contrary. The Customer also absolves the Bank from any liability that may arise from non-payment of said transfer or confiscation or of being detained by the correspondent bank or the beneficiary’s bank for any reason whatsoever.
4. The Customer absolves the Bank from any liability in case the other parties at the Beneficiary’s country or any other place reserve / seized the values of transfers, or in case of rejecting the transfer by the beneficiary or the beneficiary’s Bank.
5. The Customer shall hold the Bank harmless and indemnify it against any liability or loss that may be incurred by the Bank as a result of claims against it due to executing the transfers, including any loss that might arise from the costs or expenses or fees or any additional financial implication that may come due by the bank to third parties.
6. The Bank without any prior notice to the Customer shall be under no obligation to execute the transfers unless the Customer (Applicant) has maintained the adequate credit balance on its account(s) to cover the amount of the transfers plus the fees, commissions and any other amounts required for the execution of the transfers. If the Bank elects, at its own discretion, to execute the transfers, for any reason, without having sufficient funds in its account(s), the Customer shall immediately cover all the amounts incurred by the Bank for this purpose with the related interest and commissions at the rates prevailing at the Bank effective from the date of debiting the account. This action does not give the Customer the right to oblige the Bank automatically execute such transfers without having a sufficient balance.
7. The Bank is at liberty to execute the transfers at the Customer’s responsibility. The Bank shall not be liable for any loss, delay, error, omission which may occur in the transmission of the SWIFT message or for its misinterpretation when received or for any delay caused by the laws and regulations in the country wherein payment should be disbursed or for any act of default or negligence of the beneficiary’s bank. The Bank shall not be liable, under any circumstances, for any direct or indirect damage or loss.
8. The Customer shall not be entitled to withdraw the transfers’ applications after the transferred amounts have been debited from the Account. Nevertheless, and should the Bank approve, at its own discretion and taking into consideration the laws and regulations applied in the beneficiary’s country, to return the amount back to the Customer for any reason whatsoever, the Bank shall have the choice to pay at the prevailing purchase rate of the relevant currency less all charges and expenses.
9. The Bank shall be absolved from any liability as a result of the delay in executing the transfers in case of incomplete information in the transfer issuance applications and the Bank shall be entitled to reject execution of any transfer due to non-compliance with the regulatory directions or its internal policies and procedures without illustrating the reason and justifications.
10. The Bank may at any time implement any security and other procedures including the Bank’s “Customer Due Diligence” procedures for the verification of the identity of any of the parties of the financial transaction, the purpose of the financial transaction, or the relationship between the Customer and the Beneficiary.
11. The Customer authorizes the Bank to disclose relevant information and / or documents and / or bills and information to third parties as far as they relate to the financial transaction including our account number / IBAN, date of birth (for individuals) / registration number (for non-Individuals), address, contact details, the beneficiary’s address, contact details and the purpose of the transactions within the transfer details if the requirements of the regulatory authorities in the paying bank’s country or the beneficiary’s country require that, or its essential to proceed the mentioned transaction
12. The transfer amount in the required currency shall be subject to exchange instructions or any regulations issued by the regulatory bodies in this regard, this is according to the rules and regulations of the country that issues the transfer. The Bank shall not bear any loss, delay, or damage caused by such rules and regulations.
13. In the event of insufficient balance in the Account from which the transfer is requested to be executed, the Bank may, without being obliged to execute the transfer by debiting any of our other accounts.
14. This form was issued in both Arabic and English, in case of any conflict Arabic script prevails
15. The Customer authorizes the Bank to execute the required remittance through any of the banks or other institutions not specified in the request if the Bank finds that the execution of this remittance does not require this, and this is our full responsibility, and the Customer absolves the Bank from any liability
16. The customer shall bear full responsibility for all transfers from his account to the account of any Beneficiary upon the account of the beneficiary from local or foreign bank upon the application that requests by him to the Bank. Customer acknowledges of unconditional approval and It is not undeniable that the payment of the transfer by the Beneficiary’s Bank is based on the IBAN or beneficiary account number as stated in the application of the transfer and without matching the name of the beneficiary or any other details in the transfer with the name of the account holder at the beneficiary’s bank. The Customer shall bear any losses that may result from the beneficiary bank un match the name of the beneficiary or any other details in the transfer with the name of the account holder specified in the transfer application، The Bank disclaims any responsibility or liability that may be incurred by the Bank in this regard.”

The following words and expressions in this Agreement shall have the meanings assigned to them hereunder unless the context indicates otherwise: 

Agreement:

A set of general and special provisions to deal with investment tools, securities, agreements and the appendices thereof which shall be deemed to be one unit and shall be read and construed together after being signed by the Customer. 

Portfolio:

A set of investment tools retained by the Customer at the Bank whereby the investor shall estimate the risks and benefits by determining the relationship among all the securities contained in the portfolio regardless of the nature of each tool thereof.

Bank:

Jordan Ahli Bank, hereinafter referred to as the (Bank or Manager).

Customer:

The natural and/or corporate person referred to above who signs this Agreement in compliance with its terms and conditions.

Securities registered in the Bank’s Name:

Securities registered in the Bank’s name on the Customer’s behalf.

Return:

Profit(s), cash interest or securities which are realized by the investment tool or security.  Such return is expressed in percentage (where it is distributed in cash) of the amount paid for the investment tools, securities or portfolio.

Total Return

Current cash liquidity for investments plus the ultimate profit or loss during a specific period of time.

Securities:

Any property rights, indications or evidence recognized as being foreign securities approved by the Board of Commissioners of Jordan Securities Commission, particularly including those provided for under Article No. (3)(b) and Article (4) of the Securities Law No. 18 of 2017.

Correspondent:

Any foreign or domestic commission with which the Bank has a direct relationship, which acts as a trustee of investment tools and/or securities and which performs the selling and/or buying operations.

Non-Discretionary Account:

The portfolio’s account that solely permits the Customer to make his selling and buying decisions, to select the securities he wishes to deal with which are acceptable to the Bank and the timing of selling or buying at the price pursuant to which he wishes to sell or buy through the Bank (the Manager).

Discretionary Account:

The portfolio’s account in respect of which the Bank makes all the decisions of the selling and/or buying operations of securities at the prices and timing that the Bank deems appropriate.

Risk:

The potential of whether an investment would not realize the profit it is supposed to realize and the potential that the value of an investment would diminish and/or shall be exposed to direct losses more than anticipated.

Commissions:

The fees received by the Bank in consideration of managing the portfolio(s); performing the investment operations and trading in securities.  The Bank shall determine and adjust such commissions from time to time.

Stocks:

Equity unit belonging to any shareholder in any company.

Bonds:

Debentures issued by a company or government with a specific interest rate and fixed maturity dates clarifying the time of payment of interest and principal.

Futures Contracts:

It is a contract that obliges the buyer to buy a specific asset (or the seller to sell a specific asset) at a future date at a previously specified price. The future  contracts shall determine in detail the type and quantity of assets that have been contracted for, which could either be basic commodities or financial tools, such as, securities, foreign currencies, metals, stock indices or other assets which the Bank agrees to deal in.

Options Contracts:

Contracts that grant the buyer the right to buy or sell an asset (obliging the counter party to meet such right if the option contract is performed) at a price specified at any time before the date which is determined in advance.  The options contracts transaction involves an agreement between two parties.  These contracts are divided into two parts, namely, buying option and selling option. 

In the Money:

This occurs when the selling or buying price of the asset in the spot market is better than the price specified in the options contract.

At the Money:

This occurs when the selling or buying price of the asset in the spot market is equal to the price specified in the options contract.

Out the Money:

This occurs when the selling or buying price of the asset in the spot market is worse than the price specified in the options contract.

Mutual Funds:

It is one of the investment tools which is managed by specialized persons in the stock market.  It contributes towards increasing capitals by selling shares in the international stock exchanges which are called units within a set of securities.  Mutual funds and capitals are invested in a common package called “Portfolio” which combines securities, products and other tools that are in conformity with the fund which appear in the subscription prospectus, provided they are listed in the stock exchange.

Hedge:

A preventative measure used to avoid potential losses on the return which is one of the securities market operations.

Dealing Limit:

The amount (limit) which the Bank agrees to extend to the Customer which is placed at the Bank’s disposal by the Customer to be dealt with in managing the investment tools based on the Customer’s instructions through the Bank.

Settlement:

The process pursuant to which a dealing contract is finalized to transfer title of the securities from the seller to the buyer and settle the price thereof finally and unconditionally.

Prohibited Acts:

Any act, practice, scheme, approach or means prohibited by the Securities Law; the regulations, instructions or decisions rendered in pursuance thereof or any domestic or international laws promulgated in that regard.

Competent Court:

Amman Court of first Instance.