Jordan's ICT Talent is the Focus of CBJ's Fintech and Innovation Vision

Jordan's ICT Talent is the Focus of CBJ's Fintech and Innovation Vision

By Staff Writer, 17 September 2023

The Central Bank of Jordan (CBJ) unveiled its financial technology and innovation vision, aligning with the Economic Modernisation Vision (EMV).

This launch event gathered key stakeholders, including banks, financial institutions, associations, fintech companies, entrepreneurs, and official institutions from Jordan.

CBJ Governor Adel Sharkas explained the vital role of fintech and innovation in shaping economies, underscoring Jordan's readiness to leverage these opportunities to enhance the economic prospects of its citizens.

Fintech's vital role in supporting the growth of micro, small, and medium enterprises (MSMEs) as key drivers of job creation and economic diversification under the EMV was emphasized by Sharkas.

MSMEs make up 98 percent of businesses and employ 60 percent of the workforce in Jordan, crucially promoting financial inclusion by enhancing access to financial services, especially for individuals with limited income.

Jordan stands out globally for its ICT expertise, particularly in fintech, with 23 percent of technology entrepreneurs in the Middle East and North Africa being Jordanian.

The country is also among the top six regional providers of financial technology solutions.

The CBJ vision, based on a recent market study in collaboration with the German International Cooperation Agency (GIZ), stems from an analysis of Jordan's innovation and fintech landscape.

The study underscores the strength of Jordan's fintech system, revealing a wealth of skilled entrepreneurs and employees operating in the ICT and financial sectors.

Source: Zawya

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