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Mike CAMUS
Head of International Desk Middle East, Turkey

Support by the
Crédit Agricole group

Last updated: august 2021

The International Desk Middle East provides support to Crédit Agricole Group's corporate clients in Jordan by providing information and banking advice and support in the process of opening an account or setting up financing through a leading Jordanian partner bank.

For non-bank financial services, the International Desk helps its leading partners to internationalise.

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Means of payment

With Jordan

Company cheque

Bank cheque

SWIFT transfer

Bill of exchange

Promissory note

Documentary remittance

Documentary credit

Usage

Weak / None

Weak / None

Common

Not recommended

Not recommended

Not recommended

Common

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Advice from the
international desk

General Information

Jordan is an economically open country. Jordan is a unique country in the Middle East because it has been able to benefit for several years from political stability, which has generated economic activity, in a region that is strongly impregnated with instability. Its financial system has benefited from structural reforms ensuring a regulatory framework in line with international standards and consequently attracting foreign investors, especially from neighboring countries. Its banks have been fully privatized and opened to both domestic and foreign shareholders.

Jordan  relies heavily on imports to meet its energy and food needs. The economy is service-oriented: financial services, tourism and ICT. In recent years, the country has suffered from the geopolitical context of the region.

The main economic challenges are related to infrastructure development. The country has significant needs in the areas of water, energy, waste and urban transport.  It intends to respond to them through Public-Private Partnerships, with the support of major multilateral or bilateral donors.

It is important to note that there is a gap with western countries regarding the weekend: Friday and Saturday.

Means of Payment & Banking Specificities

The main invoicing currency is the euro, with the US dollar coming in second place. 

To secure payments, we strongly recommend the use of a confirmed documentary credit with payment on demand or even within 30 days maximum.

Late payments are very frequent and very important if the payment is not secure, most often due to cash flow problems.

Advance payments are possible if the amount justifies it.

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