Oversight and Supervision on National Payment Systems
Oversight on payment and settlement systems in the Kingdom is an important role of the Central Bank of Jordan and an integral part to ensure safety, integrity, and efficiency of payment, clearing, and settlement system and a guarantee for stability, safety, and efficiency of the financial and banking sector.
In addition to this, the implementation of the Central Bank's monetary policy depends on the authenticity and efficiency of Financial Market Infrastructures- FMIs.
The Central Bank of Jordan oversight each of large-scale payment and settlement systems and retail payment systems (whether owned or operated by the Central Bank or any other party) in addition to payment instrument and channels in accordance with provisions of Article (50) of the Central Bank of Jordan Law No. (23) of 1971 and its amendments. Oversight activities also include policy formulation, development of standards, field monitoring and evaluation operations.