Working Hours during the Holy Month of Ramadan
التاريخ
Ref. : 1946/2024
Date: 05/03/2024
Date: 05/03/2024
Memo No.
(08/2024)
Brokers & Custodians, Members of the SDC
Dear General Manager,
Subject: Working Hours during the Holy Month of Ramadan
| Kindly be informed that the SDC working hours during the Holy Month of Ramadan will be from 09:30 AM till 03:00 PM. | |
| According to the provisions of Article (134) of the Registration, Deposit and Settlement of Securities Instructions of the year 2017, it was decided the following: | |
| 1. | The period during which the custodians will either accept or reject the settlement contract according to the provisions of Article (71) of the Registration, Deposit and Settlement of Securities Instructions of the year 2017 is amended to become by 2:30 pm, maximum on the first day following the Trading Day (T+1). |
| 2. | The deadline set under the provisions of Article (79) of the Registration, Deposit and Settlement of Securities Instructions of the year 2017 regarding the notices issued by the SDC’s electronic system to the brokers for the payment of Liquidity Reserve amount, and the notices to the brokers and custodians for the payment of the amounts due on the settlement day shall be amended to become by 2:30 pm which is final unless another notice was sent by the SDC afterwards amend them. |
| 3. | The payment of the amounts due by the brokers to the settlement account as Liquidity Reserve which is set under the provisions of Article (80/A) of the Registration, Deposit and Settlement of Securities Instructions of the year 2017, shall be amended to become by 10:15 am maximum on the first day following the Trading Day (T+1). |
| 4. | The payment of the amounts due by the brokers and custodians to the settlement account set under the provisions of Articles (80/B) and (82) of the Registration, Deposit and Settlement of Securities Instructions of the year 2017, shall be amended to become by 10:15 am maximum on the second day after Trading day (T+2). |
| 5. | The deadline for the Brokers to resolve the causes related to suspended trading contracts due to the deficit of Securities Balance in sale trades for custody related accounts set under the provisions of Article (62/B) of the Registration, Deposit and Settlement of Securities Instructions of the year 2017, shall be amended to become by 10:30 am maximum on the second day after Trading day (T+2). |
| Therefore, all brokers and custodians are kindly requested to verify with their banks designated for settlement purposes the necessity of paying the money transfers required for the settlement account by 10:15 am, maximum. | |
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The official working and the above-mentioned appointments would be back to normal hours after the end of the holy month of Ramadan and according to our memo (34/2021) dated 27/05/2021 |
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Kind Regards,
Sarah Tarawneh
Chief Executive Officer
