Working Hours during the Holy Month of Ramadan
التاريخ
Ref. : 1477/2025
Date: 19/02/2025
Date: 19/02/2025
Memo No.
(06/2025)
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 09:00 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. | Maintaining the date on which the broker must pay the amounts due as a liquidity reserve as stated in the Instructions for Registration, Deposit and Settlement of Securities for the year 2017. |
| 4. | Maintaining the date on which the broker and custodian must pay the amounts due to them for the settlement as stated in the Instructions for Registration, Deposit and Settlement of Securities for the year 2017. |
| 5. | Maintaining the deadline by which the broker must address the reasons for suspending trading contracts due to a deficit in the balance of the securities sold in the trading contract linked to the custodial account, as stated in the Instructions for Registration, Deposit and Settlement of Securities for the year 2017. |
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We would like to take the opportunity to congratulate you of the occasion of the advent of the holy month of Ramadan. |
|
Kind Regards,
Sarah Tarawneh
Chief Executive Officer
