Currency in Jordan

Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.

By following these tips and managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Jordan.

How is the cost of living in Jordan?

The cost of living in Jordan is very affordable. Most basic goods and services are very reasonably priced, and expatriates will find that their cost of living is significantly lower than in many other countries.

How is the expat life in Jordan?

Jordan is a relatively easy place to adjust to as an expat. There is a significant international community in the country, which can make finding friends and getting settled a relatively easy process. Additionally, the country is relatively safe and stable, which can be a big draw for expats looking for a sense of stability in their new home. However, it is important to note that Jordan is a conservative country, and expats should be respectful of local customs and culture.

Any laws in Jordan that foreigners should be aware of?

Some laws in Jordan that foreigners should be aware of include the following: it is illegal to photograph military and governmental buildings; it is illegal to proselytize or to attempt to convert Jordanians to another religion; and it is also illegal to import, possess, or use drugs.

What is doing business like in Jordan?

The business environment in Jordan is generally good, with a low level of corruption and a strong commitment to the rule of law. The government has been working to improve the investment climate and attract more foreign investment.

How is the economy in Jordan?

The economy in Jordan is going through a tough time at the moment as the country's main export partners have been hit hard by the global pandemic. The tourism sector has also been hit hard, as the number of visitors to Jordan has decreased significantly. The government is working on diversifying the economy and is looking to attract more foreign investment.

Managing your finances in Jordan

Here we list some key points for expats and businesses to consider when managing financial dealings in Jordan:

1. Understand Jordanian dinar currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the JOD exchange rate and consider using a currency exchange service or a credit card that does not charge foreign transaction fees to get the best exchange rate.

2. Use a local Jordanian dinar bank account: A local JOD bank account can make it easier for you to manage your finances and pay bills while you are in Jordan. It may also be more convenient to use a local JOD bank account to make purchases and withdraw cash.

3. Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Jordan. This can help you avoid legal issues and ensure that you are complying with local requirements.

4. Consider the tax implications: It is important to understand the tax implications of living or doing business in Jordan. This can help you plan your finances and ensure that you are paying the correct amount of tax.

5. Seek financial advice: If you are unsure of how to manage your finances in Jordan, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.