CBJ launches new electronic documentation system

AMMAN — The Central Bank of Jordan (CBJ) launched the electronic documentation system for the financial and banking sector on Wednesday, marking a significant milestone in the development of both industries and a crucial step towards the digital transformation of financial and banking transactions in Jordan.

The system aims to provide the necessary infrastructure for issuing and managing electronic authentication certificates, enabling electronic signatures for financial and banking transactions among various parties, in compliance with the Kingdom's current legislation.

The system makes the CBJ the official authority over electronic documentation, serving the national economy, the financial system and specifically the banking sector.

The launch of the system aligns with the goals of the Economic Modernisation Vision, and reflects CBJ's commitment to creating a secure and efficient payment environment, promoting financial inclusion, safeguarding consumers' rights and encouraging innovation and development in the financial technology field.

The system is also in accordance with the goals and pillars of the National E-Payments Strategy for 2023-2025 announced by the CBJ in February, which is itself aligned with the National Digital Transformation Strategy for 2021-2025.

CBJ Governor Adel Sharkas said that enhancing the financial and banking sectors’ infrastructure with the system will increase trust and security in digital financial and banking operations, and will support Jordan’s transition to a comprehensive and advanced digital economy.

Sharkas affirmed that the system is built using state-of-the-art equipment and technology within a secure and highly accessible environment. This provides the system with the highest possible degree of accuracy to safeguard the confidentiality of financial and banking transactions. 

The new system will also empower enterprises within the banking and financial sectors to expand their services and applications through secure and reliable e-channels.