Plans to establish digital banks underway — CBJ

AMMAN — The Central Bank of Jordan (CBJ) announced that it is negotiating with Jordanian banks on establishing digital banks in response to the rapid global digital transformation, the Jordan News Agency, Petra, reported. 

The CBJ said that there is a growing trend towards synergising financial industries with modern technologies, adding that new tools are capable of fundamentally changing the way financial and banking institutions conduct their business.

The CBJ indicated that, in partnership with the banking sector, a systematic legislation to govern the work of digital banks will be created, including requirements to grant licensing to digital banks.