Cybersecurity, new financial technology discussed at 10th Jordan Economic Forum

AMMAN — Governor of the Central Bank of Jordan (CBJ) Ziad Fariz on Tuesday said that the lack of cybersecurity is one of the major risks threatening the global economy, stressing that the risk increases with the growing reliance on technology and electronic applications in financial transactions, the Jordan News Agency, Petra, reported.

His remarks came during the 10th Jordan Economic Forum titled "Blockchain, FinTech, and Risks of Crypto Currency", which was organised by Afaq Group in coordination with the CBJ.

Fariz highlighted that the new financial technology, "FinTech", has solved problems that traditional banks were unable to deal with, including reaching out to underprivileged segments of society who live in remote areas.

Fariz also pointed out that the bank will implement rational monetary policies and will organise and monitor the banking and financial systems to ensure its safety, achieve financial stability, and curb inflation.