Amman: The Governor of the Central Bank of Jordan (CBJ), Adel Sharkas, Monday said the CBJ is “committed to maintaining a strong and stable financial system that keeps pace with our time’s requirements.”
Sharkas said at the “Technology and Governance in the Exchange Companies Sector” forum, “The current events and developments that coincide with the rapid growth and increasing importance of services based on financial technology made the effective application of the foundations of governance and risk management an urgent need.”
He added that the forum “is the first of its kind” in Jordan that saw the participation of experts and workers in banking and the national economy to engage in dialogue on how to counter challenges in light of the rapid change in banking and to seize opportunities, develop innovative solutions and mechanisms and make finance-related technological progress.
He said that innovative financial technology has become “one of the most promising industries in the world,” adding that develop
ment in ICT has led to innovative financial and banking applications and solutions that increase the efficiency of financial services.
He stated that the CBJ had issued instructions in 2023 on indicators of the soundness of financial conditions and limits for exchange companies, documenting and maintaining banking operations, keeping records and accounts, preparing financial statements and the guidelines for licensing exchange companies.
Sharkas noted that the Bank is working on a new set of instructions on organising and framing internal audit and compliance tasks of exchange companies as part of efforts to establish an integrated system that would protect the banking sector and financial companies.
The Union of Arab Banks, in cooperation with the Central Bank of Jordan, organised the forum.
Source: Jordan News Agency