Central bank of Jordan checks the opportunity to start a CBDC - FinTech

The governor of the Central Bank of Jordan recently said that his institution checked the opportunity to introduce a legal digital currency that will be linked to the state currency. He also suggested that the trade in cryptocurrencies could finally be allowed in Jordan as soon as the necessary laws were issued.

protection of investors

Jordan is currently examining and exploring the possibility of introducing a digital central bank currency (CBDC) that is linked to its currency, the Jordanian dinar, said the country's central bank governor. In addition, the governor, Adel Al Sharkas, suggested that the central bank of Jordan (CBJ) could possibly allow crypto trading as soon as the corresponding regulatory framework has been created.

The remarks of Sharkas that were made during a meeting that had been called to discuss digital currencies came after the head of the Jordanian Economic and Investment Committee of the Lower House, Khair Abu Sa’ilik, had warned of the risks associated with the cryptoandel.

At the same meeting, the participants also said about the type of regulatory system that could be necessary to protect investors from such risks. They also discussed the plan to start a regulated trading platform for cryptocurrencies.

The CBJ-Gouveerne is quoted in an unblocking media test report Explanation of the reasons why Jordan banned crypto trading. He quoted China and four other Arab countries, of which he said they also prohibited crypto trading. Al Sharkas said Jordan banned crypto trading to protect investors from fraudulent crypto investment programs.

Farewell to laws to regulate the crypto trade

"With regard to the plans for the issue of a Jordan digital currency, a study on the development of a legal digital currency is currently being carried out to the Jordanian Dinar.

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Terence Zimwara

Terence Zimwara is an award -winning journalist, author and writer from Zimbabwe. He wrote in detail about the economic problems of some African countries and how digital currencies Africans can offer an escape route.

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