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CBJ rejects insurance premium hike, announces regulatory overhaul

Summary by Jordan Times
AMMAN — The Central Bank of Jordan (CBJ) on Tuesday rejected a proposal from insurance companies to raise premiums for compulsory motor insurance. The CBJ unveiled a comprehensive package of amendments to the regulations governing the sector, which will take effect on January 1, 2025, according to a CBJ statement. The CBJ also said that these amendments aim to balance the financial sustainability of insurance companies, reduce the burden on citi…
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