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Objectives and Tasks of CBJ

 

Objectives and Tasks of CBJ

The objectives of the Central Bank shall be to maintain monetary and financial stability, to ensure the convertibility of the Jordanian Dinar, and to contribute in achieving the banking and financial stability in the Kingdom as well as promoting sustained economic growth in accordance with the general economic policies of the government.

To achieve the above- mentioned objectives, CBJ assumes several tasks represented in drawing and implementing the monetary policy in the Kingdom through an integrated system of monetary policy instruments, setting  a pricing policy of the Jordanian Dinar compatible with the Jordanian economy,  maintaining and managing the Kingdom's reserves of gold and foreign currencies, regulating credit in the Jordanian economy in order to achieve monetary and financial stability as well as comprehensive economic growth, and issuing and regulating banknotes and coins.

Furthermore, the Central Bank monitors and supervises banks to ensure the soundness of their financial positions and the protection of the rights of depositors and shareholders in accordance with the provisions of the effective legislations and governance rules. It, in addition, monitors and supervises financial institutions to ensure the soundness of their financial position in accordance with the provisions of the effective legislations. The CBJ is also responsible for regulating and developing the National Payments System to ensure sound and effective payment, clearing, and settlement systems.

 

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