Amman: The Central Bank of Jordan (CBJ) on Tuesday signed a memorandum of understanding (MoU) with the Information and Communications Technology Association of Jordan (int@j) to enhance their partnership in the areas of financial innovation based on financial technology (FinTech).
The agreement was signed by CBJ Deputy Governor Ziad Ghanma and int@j Chairman of the Board of Directors Eid Suwais.
Ghanma said that the signing of the MoU is a reflection of the importance of interacting and participating with all stakeholders interested in developing and investing in the FinTech industry, improving digital financial services, strengthening the digital infrastructure necessary for a thriving FinTech ecosystem, providing continuous support to entrepreneurs and talents, and promoting knowledge and skills.
Ghanma added that within the scope of the joint cooperation with int@j, the CBJ looks forward to increasing the opportunities for relying on FinTech in providing financial and banking services in line with the l
atest developments and exploring ways to provide a common environment to embrace creative ideas and adopt talents in modern FinTech.
Ghanma also pointed out that the MoU is a new milestone in the CBJ’s commitment to achieving a growing development in the FinTech sector and supporting innovative digital financial solutions in line with the CBJ’s vision for FinTech and innovation and in line with the economic modernization vision.
He stressed that the partnership with int@j represents a new stage to take FinTech to broad horizons, and through this cooperation, the CBJ will unify its efforts with int@j by harnessing their expertise and resources to promote leading developments in the FinTech sector, redefine the industry according to global developments in this sector, and contribute to strengthening the ecosystem of startups, ensuring the provision of innovative financial services that meet the evolving needs of our society, driving sustainable development, and enhancing Jordan’s position as a regional hub an
d investment destination for financial technologies and innovations.
For his part, Suwais said that signing this MoU with the CBJ is a strategic step towards enhancing the role of FinTech in the Kingdom, which reflects the joint commitment towards supporting and encouraging innovation in financial services.
He underlined the important the CBJ’s role in embracing creative ideas and adopting talents in FinTech, stressing that this cooperation contributes to achieving Jordan’s vision as a leading regional hub in this sector.
He also indicated that this partnership will open new horizons for innovation and enhance the startups ecosystem, which supports the provision of innovative financial services that meet the needs of our society and drive sustainable development.
The MoU was signed on the sidelines of a consultative meeting held at the CBJ that brought together representatives from 20 entities from various components of the FinTech and innovation ecosystem in the Kingdom, including banks, financial instit
utions, associations, unions, FinTech companies, entrepreneurs, incubators and accelerators, and a group of official institutions and universities in the Kingdom.
The meeting aimed to discuss the challenges facing the FinTech sector in the Kingdom and to come up with a proposed statement announcing the opening of a window for accepting applications to join the regulatory sandbox for FinTech and innovation in the financial and banking sector.
Source: Jordan News Agency