Jordan Mortgage Refinance Company - Jordan

1	Founding Instrument(s) (with links if possible)	JMRC is a public shareholding limited company established under the provisions of the Temporary Companies Law No. (1) of 1989 and registered in the register of public shareholding companies under number (314) on 5/6/1996, and obtained the right to commence operations on 22/7/1996, with its subscribed and paid-up capital amounting to (22.5) million Jordanian dinars.
2	Any additional or subsequent mandate or governance statements (not included in the above).	None
3	Ownership	Banks, Central Bank, Public Sector Institutions
4	Legal status	Non-banking financial institution (public shareholding company)
5	Government accounting for stake	Investments held by public-sector entities (Central Bank, Social Security Investment Fund, Housing & Urban Development Corporation) are recorded as financial assets measured at fair value. Changes in fair value are recognized in Other Comprehensive Income (OCI) and reflected in equity.
6	Member bank accounting for stake	The company's financial statements are prepared in accordance with the standards issued by the International Accounting Standards Board and the interpretations issued by the International Financial Reporting Interpretations Committee emanating from the International Accounting Standards Board. Accounting treatment is the same as in the public sector (fair value through OCI). For regulatory capital purposes, these investments are assigned a 100% risk weight, not deducted from CET1. This is because the banks ownership stakes in JMRC are below 10% of their capital, so they are not considered significant.
7	Government guarantee	N/A
8	Other Comments	N/A