Amman - The Central Bank of Jordan has announced that it will allow Al-Damenoun Al-Arab Insurance Company to partially resume its business, limited to domestic worker insurance contracts and expatriate insurance contracts only, effective 5 November 2026. The decision follows legal undertakings and measures the company has taken to correct its position and comply with the applicable regulatory and supervisory requirements.
اضافة اعلان
The Central Bank explained that the decision gives the company an opportunity to complete its plan to correct its financial, technical and administrative position. This is intended to protect the rights of insured persons and beneficiaries of insurance contracts, and to ensure the company meets its obligations under the applicable legislation.
Regarding outstanding financial claims from insured persons and beneficiaries, the company has pledged and confirmed its commitment to settle them and pay their value in line with the regulations, within a period not exceeding four months from the date of the announcement. It will also take the necessary steps to process and complete the pending files in accordance with the relevant legal provisions.
The Central Bank called on all insured persons, beneficiaries of insurance contracts and interested parties to follow the company's official communication channels for the procedures and timetables for settling their claims. It reaffirmed that it will continue to subject the company to strict supervision and monitor its compliance with its undertakings.
The Central Bank stressed that it will not hesitate to take stricter legal and supervisory measures against the company if it fails to comply with the correction plan or defaults on its obligations to insured persons and beneficiaries within the set period, in order to preserve the safety and stability of the insurance sector and strengthen trust in it.
