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The Anti-Money Laundering Framework in Jordan: New Laws and Regulations

Bashar H. Malkawi*

I. Introduction

Money laundering is a major problem for Jordan and the international community. Laundering criminally-derived proceeds has become a lucrative and sophisticated business. Money laundering challenges the maintenance of order in Jordan and threatens the integrity and reliability of its financial institutions and commerce.
In recognition of this pervasive problem, Jordan passed several laws and regulations. These laws and regulations, some of which are new, include the Law against Narcotic Drugs and Psychotropic Substances of 1988, Provisional Law on Monitoring Insurance Business of 2002, Central Bank Circular on Regulations of Anti-Money Laundering of 2006, and the new Anti-Money laundering Law of 2007. All these laws and regulations aim to decrease the level of financial crimes in Jordan and facilitate the development of a sound economy by attracting......

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Approximate Word Count: 6771
Approximate Pages: 28 (250 words per double-spaced page)

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