Amman, August 26 (Petra) Sectoral working sessions convened on Tuesday at the Prime Ministry to develop the second executive programme (2026–2029) of the Economic Modernisation Vision, with a dedicated session for the financial services sector under the "Future Services" engine.

Participants discussed the sector's priorities and their integration into the upcoming executive programme, focusing on translating priorities into actionable projects with clear timelines and measurable performance indicators.

The session was held as part of a participatory approach, involving both public and private sector stakeholders.

Governor of the Central Bank of Jordan Adel Sharkas presented 12 national initiatives adopted by the Bank to advance the financial markets and services sector within the Economic Modernisation Vision.

The initiatives are being implemented through 20 projects, building on past achievements and designed to unlock the sector’s potential to support economic growth.

Key initiatives highlighted include:
Expanding Financial Inclusion: Ensuring accessible financial services for all societal segments to translate the Vision's goals into tangible outcomes.

Digital Transformation: Developing a sustainable digital ecosystem for fast, secure and low-cost cross-border remittances.

AI Integration: Applying artificial intelligence across financial and banking services to boost innovation, operational efficiency and competitiveness.

Cybersecurity Infrastructure: Establishing an integrated cybersecurity framework and enhancing workforce skills in cybersecurity and emerging technologies, especially for small and emerging institutions.

Consumer Protection and Legislation: Strengthening consumer rights and access to services by updating relevant laws and introducing new regulatory frameworks, including for crowdfunding and corporate governance.

Fintech and Digital Banking: Promoting innovation through specialised training and international certifications to foster entrepreneurship in digital finance.

Green Finance: Advancing the Central Bank's Green Finance Strategy (2023–2028) by improving access to green financing and aligning with global climate disclosure standards.

Insurance Sector Reform: Enhancing the sector through legislative and technical development to keep pace with modern trends.

Open Banking: Creating a secure and flexible environment for open financial services by regulating API use across Central Bank-supervised entities.

Micro and Small Enterprise Financing: Increasing funding access via loans from the Arab Fund for Economic and Social Development to support business sustainability.

Exchange Sector Regulation: Modernising governance and internal controls to enhance efficiency and service reliability.

Capital Market Development: Encouraging investment through diversification of financing tools, infrastructure improvement and legislative reform.

Participants stressed the importance of achieving an efficient capital market aligned with international standards to boost competitiveness and attract investment.

They called for legislation reform, including updates to the Securities Law and emphasised strengthening the independence of the Jordan Securities Commission.

Discussion points included encouraging the creation of investment funds, stimulating the secondary bond market on the Amman Stock Exchange and enabling strategic, high-impact initiatives to accelerate progress toward the Vision’s goals.

The session was part of a broader series of dialogues that began at the Royal Court and continue at the Prime Ministry in coordination with the private sector, ensuring that sector-specific priorities are effectively reflected in the Vision’s second executive programme.

//Petra// AK

26/08/2025 22:20:37