AMMAN — A working session dedicated to the financial services sector was held on Tuesday at the Prime Ministry as part of preparations for the second executive programme (2026–2029) under Jordan’s Economic Modernisation Vision (EMV).

 

The session, held within the "Future Services" engine, brought together representatives from both the public and private sectors to examine priorities for the financial industry and ensure their inclusion in the forthcoming implementation plan.

 

Discussions centred on transforming these priorities into concrete projects with defined timelines and measurable performance indicators.

 

Governor of the Central Bank of Jordan (CBJ) Adel Sharkas presented 12 national initiatives headed by the CBJ, including 20 projects designed to further develop financial markets and services in line with the EMV’s goals.

 

The initiatives aim to build on previous accomplishments and unlock the sector’s full potential to drive economic growth.

 

As part of the EMV, a set of key initiatives has been introduced to strengthen Jordan's financial services sector;

 

Among the central priorities is expanding financial inclusion to ensure that all segments of society have equitable access to financial services, thereby turning the vision's “ambitions into concrete, measurable outcomes.”

 

This is closely linked to the drive for digital transformation, aimed at creating a sustainable, high-quality digital ecosystem that facilitates fast, secure, and low-cost cross-border remittances.

 

Another significant area of focus is the integration of artificial intelligence into financial and banking operations, with the goal of fostering innovation, enhancing entrepreneurship, improving operational efficiency, and boosting regional competitiveness.

 

At the same time, the development of a comprehensive cybersecurity infrastructure is underway, targeting not only the establishment of a sector-wide framework but also the up skilling of the financial workforce in cyber security and emerging technologies, especially in support of small and growing institutions.

 

Efforts are also being directed at reinforcing consumer protection through legal reform and the introduction of updated regulatory frameworks, covering areas such as crowd funding and corporate governance, to improve access to financial services and safeguard users' rights.

 

The CBJ is further promoting fintech and digital banking by investing in specialised training programmes and internationally recognised certifications that support innovation and entrepreneurial growth in digital finance.

 

Environmental sustainability remains a core priority, with the CBJ advancing its Green Finance Strategy (2023–2028) to widen access to climate-related financing and ensure compliance with global climate disclosure standards.

 

In parallel, the insurance sector is undergoing legislative and technical reform to ensure it keeps pace with international developments and industry best practices.

 

Open banking is being enabled through the regulation of Application Programming Interfaces (APIs), creating a secure and adaptable environment for financial innovation across CBJ-regulated entities.

 

To support business continuity and growth, particularly among smaller enterprises, new funding channels are being unlocked through loans secured from the Arab Fund for Economic and Social Development (AFESD).

 

Governance in the exchange sector is being updated to enhance internal controls, increase efficiency, and improve the reliability of services.

 

Capital market development is being prioritised through the diversification of financial instruments, infrastructure upgrades, and legal reforms, all designed to attract investment and foster a more competitive financial environment aligned with international standards.

 

Participants at the session highlighted the importance of establishing a “dynamic and internationally integrated” capital market.

 

They called for legislative updates, particularly to the Securities Law, and underscored the need to strengthen the independence of the Jordan Securities Commission.

 

Additional recommendations included the creation of investment funds, revitalising the secondary bond market at the Amman Stock Exchange, and launching high-impact strategic initiatives to accelerate progress towards the goals of the EMV.

 

This session formed part of an ongoing national dialogue that began at the Royal Hashemite Court and continues in coordination with the Prime Ministry.

 

The process aims to ensure that sector-specific perspectives are fully integrated into the EMV’s second executive programme, reflecting a collaborative and inclusive policy-making approach.