AMMAN — The Central Bank of Jordan (CBJ) on Tuesday announced the issuance of a regulatory framework for the use of artificial intelligence (AI) in the Jordanian banking sector.

 

CBJ Governor Adel Sharkas stressed that the issuance of the framework marks a "significant" step in advancing the banking sector, the Jordan News Agency, Petra, reported.

 

He said that it also reflects the CBJ’s commitment to enhancing the digital infrastructure of the financial sector by enabling the “safe, responsible, and well-considered” adoption of AI technologies.

 

Sharkas added that AI is one of the "key" enablers of digital transformation and a “vital” driver of economic development.

 

He also praised the efforts of the Steering Committee on Artificial Intelligence and Emerging and Future Technologies in the Financial and Banking Sector, which was formed by the CBJ as an institutional initiative to support the safe and effective adoption of emerging technologies.

 

The CBJ said that the framework is part of broader efforts to facilitate digital transformation in the financial and banking sector and to provide a "flexible" and "secure" regulatory environment that encourages the adoption of innovative financial technologies.

 

The framework aims to establish clear regulatory foundations that help banking institutions adopt AI solutions effectively, while adhering to principles of good governance, risk management, data protection, and privacy, and leveraging modern technologies.

 

It also seeks to foster innovation and ensure the safe and responsible use of emerging technologies, thereby boosting Jordan’s position as a regional hub for financial technology and aligning with national efforts in digital transformation and economic modernisation, Petra reported.