Jedvaj has already been called up to train with the full Croatia national squad despite his inexperience and had been linked with a move to Serie A side Roma.
But, speaking to calciomercato.it, Ban insists that a deal for the teenage centre-back isn't close, saying: "At a certain point, Dinamo raised their demand whilst Roma wouldn't improve theirs.
"Meanwhile, clubs like Arsenal and Tottenham have called Dinamo and they are dealing with them.
"Would I say Roma are out of the game? In football you never know, anything can still happen."