## JORDAN — TECHNICAL ASSISTANCE REPORT: MONETARY AND FINANCIAL STATISTICS MISSION (1jorea2019002)

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---

### Mission objectives and outcomes
- Mission dates: June 24–July 8, 2018.
- Purpose:
  - Introduce the standardized report form (SRF) for the central bank (CB).
  - Introduce the SRF for the other depository corporations (ODCs).
  - Ensure proper classification and sectoring in accordance with the Monetary and Financial Statistics Manual and Compilation Guide (MFSMCG).
  - Agree on an operating plan for the CBJ to commence regular reporting of the SRFs.
  - Discuss possible scheduling of a TA mission on financial soundness indicators (FSIs) in Fiscal Year 2019.
- Outcomes:
  - SRF 1SR (CB) and SRF 2SR (ODCs) bridge tables were developed during the mission.
  - CBJ will start submitting SRFs for the CB and ODCs using the bridge tables.
  - MAD and SD developed a bridge table linking CBJ source data to the SRFs.
  - Preliminary SRFs back to December 2014 were submitted in November to STA for review.
  - STA to follow up with Banking Supervision Department (BSD) on timeline for future FSI TA mission.

### Priority recommendations and action plan (selected)
- Target Date: December 2018
  - Regular reporting of monthly CB data to IMF STA using SRF 1SR for publication in International Financial Statistics (IFS) and their use by IMF MCD.
    - Responsible: CBJ’s Monetary affairs and Statistic Divisions – Research Department
  - Regular reporting of monthly ODCs data to IMF STA using SRF 2SR for publication in IFS and their use by IMF MCD.
    - Responsible: CBJ’s Monetary affairs and Statistic Divisions – Research Department
- Target Date: December 2019
  - Submit the SRF 2SR (ODC) based on the new reporting forms containing the new sectoral classification in conformity with the MFSMCG.
    - Responsible: CBJ’s Monetary affairs and Statistic Divisions – Research Department

### Background and context
- Follow-up to a March 2008 STA mission on MFS.
- High turnover in MAD staff after 2008 delayed SRF development; new staff have relevant skills (three staff attended an MFS advanced workshop).
- CBJ operates under law number 23 of the Year 1971 with subsequent amendments; Article 4 responsibilities include issuing the Jordanian Dinar, conducting monetary policy, providing banking services to central government, supervising commercial banks and other financial intermediaries, and managing international reserves.
- MOF is Jordan’s fiscal agency with legal responsibility for liabilities to the IMF and legal ownership of claims on the IMF; CBJ is MOF’s depository agent with legal responsibility for maintaining accounts with the IMF.
- CBJ law 1971 article (56): any loss or profit arising from revaluation of CB assets and liabilities in gold or foreign currencies as a result of changes in par value of any foreign currency shall be excluded from the statement of profit and loss and carried in a special account; CB may allocate funds or use general reserve, on Board recommendation and Council of Ministers approval, to cover such losses.

### Financial system structure and key statistics (end 2017 unless otherwise noted)
- Financial system composition:
  - Dominated by Other Depository Corporations (ODCs), which constitute around 63 percent of the financial system’s assets.
  - Other Financial Corporations (OFC) sector constitutes around 37 percent of assets.
  - Institutional coverage: Central Bank of Jordan (CBJ), 25 operating banks, two (nonoperating) banks in liquidation; 16 domestic banks (3 Islamic), 9 branches of foreign banks (including one foreign Islamic bank).
  - OFCs largely under CB supervision except insurance corporations and Amman Stock Exchange; changes in supervisory framework for insurance corporations are underway.
- Selected sectoral figures (values preserved as reported):
  - Central Bank of Jordan: Number of institutions 1; Total assets DJA 13,367.6 million.
  - Other Depository Corporations: Number of institutions 25; Total assets DJA 49,102.4 million; Share of assets in total assets 63.
    - National Banks: 16; Total assets DJA 44,579.3 million; Share 57.
    - Commercial Banks: 13; Total assets DJA 37,149.5 million; Share 47.
    - Islamic Banks: 3; Total assets DJA 7,429.8 million; Share 9.5.
    - Foreign Banks: 9; Total assets DJA 4,070.6 million; Share 5.2.
    - Commercial Banks (foreign): 8; Total assets DJA 3,475.2 million; Share 4.4.
    - Islamic Banks (foreign): 1; Total assets DJA 595.4 million; Share 0.7.
    - Banks under liquidation: 2; Total assets DJA 452.5 million; Share 0.6.
  - Other Financial Corporations: Number of institutions 42*; Total assets DJA 28,882.7 million; Share 37.
    - Insurance companies: 24; Total assets DJA 948 million; Share 1.2.
      - Life insurance: 1; Total assets N/A.
      - General insurance: 8; Total assets N/A.
      - Life and general insurance: 15.
    - Mutual Funds: 4; Total assets DJA 3.4 million; Share 0.
      - Under liquidation: 1.
    - Social Security Investment Fund**: 1; Total assets DJA 9,239.1 million; Share 12.
    - Deposit Insurance companies: 1; Total assets DJA 694.3 million; Share 0.9.
    - Jordan Loan Guarantee corporations: 1; Total assets DJA 177.7 million; Share 0.2.
    - Jordan Mortgage Refinance Company: 1; Total assets DJA 430.6 million; Share 0.6.
    - Exchange Companies**: 140; Total assets DJA 149 million; Share 0.2.
    - Micro-finance company: 9; Total assets DJA 278 million; Share 0.3.
    - Amman Stock Exchange (Market capitalization): 1; Total assets DJA 16,962.6 million; Share 22.
  - Notes:
    - Source: CBJ and IMF staff calculations.
    - *Except Exchange Companies.
    - **Preliminary (at the end of 2016).
    - **Social Security Investment Fund is classified under central government in the SRFs.

### Detailed technical assessment and recommended actions
- Implementation of previous mission recommendations:
  - Since 2008, source data for CB and ODCs have been improved and are now more suitable for SRF 1SR and 2SR compilation, but compilation of SRFs had not been finalized prior to this mission.
  - CB trial accounts show progress on sectorization and classification of financial instruments; however, financial derivatives are not separately identified and no breakdown by currency or sector is available.
  - ODCs implemented new call reports in December 2014 containing more comprehensive sectorization and classification suitable for SRF compilation.
  - Human resource improvements: MFS compilation team is newly hired and three members participated in IMF MFS workshops.
  - Recommended Action: CBJ to continue staff training by encouraging participation in IMF MFS training courses.

- Compilation of Monetary and Financial Statistics:
  - The mission built bridge tables linking May 2018 source data to SRFs; CBJ should use these bridge tables to compile SRFs back to December 2014 and start submitting SRFs to STA.
  - Recommended Action: CBJ to start submitting SRF 1SR on a regular basis to STA for publication in IFS.

- Quality assessment and sectorization issues:
  - Main issue: sectorization of financial instruments not fully aligned with MFSMCG; in particular, classification of the Social Security Corporation (SSC) deviates from MFSMCG recommendations.
  - Public sector sectoring required adjustments:
    - Public sector breakdown in Jordan’s MFS: central government and public institutions.
    - Central government contains budgetary central government and extra-budgetary agencies (mapped under central government in SRF 1SR).
    - SSC had been classified as a public non-financial corporation; mission suggested reclassifying SSC under central government as it is a compulsory scheme covering a large section of the community.
    - Municipalities and local councils remapped under local government.
  - Recommended Action:
    - CBJ to adopt MFSMCG classification of resident sector data by: (i) central government; (ii) state and local government; (iii) public nonfinancial corporations; (iv) other nonfinancial corporations; (v) ODCs; (vi) OFCs; and (vii) other resident sectors.
    - Communicate to BSD the list of sectors and implement the new sectorization in the call reports.

- Standardized Report Form 1SR (CB):
  - Accounting principles broadly align with IMF methodology, with some departures related to market valuation.
  - CBJ adopts International Financial Reporting Standards. Only securities held for trading are revalued at market value (representing 80 percent of the securities); the mission indicated that all securities should be valued at market value.
  - Classification broadly conforms to MFSMCG, but further improvement needed in classification of accrual interest.
  - IMF accounts were reviewed and remapped under correct items (example: Extended Fund Facility previously included in IMF No 1 Account was remapped under Use of Fund Credit).
  - Quota and IMF No.1 accounts: quota recorded in MOF book as MOF is responsible for IMF accounts.

### Accrued interest recording and sector counterpart
- Issue: In the CBJ trial accounts the accrual interests are not associated with their corresponding financial instruments but classified under other assets/liabilities.
- DIFO confirmed availability of the data by sectors and agreed to share information on sector counterpart with the Research Department and SD to associate accrual interest with underlying financial instruments.
- Recommended Action: MAD to undertake a project in collaboration with DIFO to provide the counterpart sector of the accrual interest recorded in the miscellaneous assets/liabilities and classify it under its corresponding financial instruments.

### Valuation adjustment classification
- Departure from MFSMCG: classification of the valuation adjustment.
- The valuation adjustment account represents differences in valuation of foreign currencies and gold.
- In 2015, law amendment: valuation adjustment previously booked under equity are presented under other assets if balance was debit, or under liabilities if balance was credit.
- While treatment differs from International Financial Reporting Standards, CBJ discloses amounts related to valuation adjustment in annual report publications.
- Recommended Action: CBJ should continue to disclose and monitor this amount so that policy makers can assess its impact on equity.

### Standardized Report Form 2SR, call reports, and ODCs accounting
- Banks submit call reports to CBJ regularly containing granular sectorization information.
- Main component: balance sheet accompanied by two schedules providing deposit and credit breakdown by sectors.
- Banks upload financial statements and other supervisory information to CBJ via an application within 10 days of the relevant month.
- Data processing: CBJ processes data in about two weeks and shares with the Research Department and SD.
- Accounting and valuation methodology of ODCs broadly in line with MFSMCG recommended compilation practices.
- All commercial banks in Jordan began to comply with the International Financial Reporting Standards 9 in 2012.
- Main deviation: non-availability of classification of accrued interest by sectors.
- Recommended Action: MAD should collaborate with SD to implement the counterpart sector of the accrued interest in the new call reports and associate it with its corresponding financial instruments.
- The mission:
  - Mapped aggregated call reports of all ODCs for May 2018 to SRF 2SR, developing a simpler tool for authorities.
  - Re-mapped source data using aggregated balance sheet and accompanying schedules through a bridge table.
  - Built a time series for required data and created a tool linking the data to the SRFs to simplify compilation.

### Action Plan — outcomes, benchmarks, and target completion dates
- Outcome: Source data are adequate for the SRFs
  - Priority: H
  - Benchmark: The compilation of the SRFs follows the sectorization of the last manual. Adopt the MFSMCG sectorization scheme by subdividing resident sector data by: (i) central government; (ii) state and local government; (iii) public nonfinancial corporations; (iv) other nonfinancial corporations; (v) ODCs; (vi) OFCs; and (vii) other resident sectors.
  - Action: Communicate to the BSD the list of sectors and implement the new sectorization in the call reports.
  - Target Completion Date: December 2019
  - Outcome: A new data set has been compiled and disseminated internally and/or to the public.
- Outcome/Benchmark: New SRFs for the CB, as set out in the MFSMCG, are available for compiling surveys for the financial corporations’ sector and its subsectors.
  - Action: Report regularly to IMF STA monthly ODCs data using SRF 2SR for publication in IFS and use by MCD.
  - Target Completion Date: December 2018
  - Status: Completed
  - Priority: H
- Outcome/Benchmark: New SRFs for the ODCs, as set out in the MFSMCG, are available for compiling surveys for the financial corporations’ sector and its subsectors.
  - Action: Report regularly to IMF STA monthly CBJ data using SRF 1SR for publication in IFS and use by MCD.
  - Target Completion Date: December 2018
  - Status: Completed
  - Priority: H
- Outcome: Data are compiled and disseminated using the appropriate basis of recording consistent with the latest manual/guide (DQAF 2.4).
  - Priority: M
  - Benchmark/Action (CB): Compilation of SRF for the CB fully follows the basis of recording set out in the MFSMCG. Implement a project with DIFO to provide the counterpart sector of the accrual interest recorded in miscellaneous assets/liabilities and associate accrued interests with their underlying financial instruments.
  - Target Completion Date: December 2020
  - Benchmark/Action (ODCs): Compilation of SRF for the ODCs fully follows the basis of recording set out in the MFSMCG. Undertake with BSD a project providing the counterpart sector of the accrued interests recorded in miscellaneous assets/liabilities and associate accrued interests with their underlying financial instruments.
  - Target Completion Date: December 2020
- Outcome: Staff capacity has increased through training (DQAF 0.2)
  - Priority: M
  - Indicator: The number of the trained staff is adequate for the compilation of these statistics.
  - Action: Continue to train staff by participating in IMF training courses.
  - Target Completion Date: April 2019

### Officials met by the mission (selection)
- Research Department: Dr. Hassan Barakat (Executive Manager); Dr. Nedal Alazzam (Executive Manager Assistant); Dr. Talal Hammouri (Head of Statistics Division).
- Banking Supervision Department: Ziad Ghnama (Executive Manager).
- Investment and Foreign Operations Department: Ghassan Khader (Executive Manager Assistant).
- Other representatives from MAD, SD, BSD, DIFO, and MOF were also met.

*International Monetary Fund — 1jorea2019002 - Section 1 and Section 2*

### Section 1

### JORDAN — TECHNICAL ASSISTANCE REPORT: MONETARY AND FINANCIAL STATISTICS MISSION (SECTION 1)

### Mission objectives and outcomes
- Mission dates: June 24–July 8, 2018.
- Purpose:
  - Introduce the standardized report form (SRF) for the central bank (CB).
  - Introduce the SRF for the other depository corporations (ODCs).
  - Ensure proper classification and sectoring in accordance with the Monetary and Financial Statistics Manual and Compilation Guide (MFSMCG).
  - Agree on an operating plan for the CBJ to commence regular reporting of the SRFs.
  - Discuss possible scheduling of a TA mission on financial soundness indicators (FSIs) in Fiscal Year 2019.
- Outcomes:
  - SRF 1SR (CB) and SRF 2SR (ODCs) bridge tables were developed during the mission.
  - CBJ will start submitting SRFs for the CB and ODCs using the bridge tables.
  - MAD and SD developed a bridge table linking CBJ source data to the SRFs.
  - Preliminary SRFs back to December 2014 were submitted in November to STA for review.
  - STA to follow up with Banking Supervision Department (BSD) on timeline for future FSI TA mission.

### Priority recommendations and action plan (selected)
- Target Date: December 2018
  - Regular reporting of monthly CB data to IMF STA using SRF 1SR for publication in International Financial Statistics (IFS) and their use by IMF MCD.
    - Responsible: CBJ’s Monetary affairs and Statistic Divisions – Research Department
  - Regular reporting of monthly ODCs data to IMF STA using SRF 2SR for publication in IFS and their use by IMF MCD.
    - Responsible: CBJ’s Monetary affairs and Statistic Divisions – Research Department
- Target Date: December 2019
  - Submit the SRF 2SR (ODC) based on the new reporting forms containing the new sectoral classification in conformity with the MFSMCG.
    - Responsible: CBJ’s Monetary affairs and Statistic Divisions – Research Department

### Background and context
- This TA mission follows a March 2008 STA mission on MFS.
- High turnover in MAD staff after 2008 delayed SRF development; new staff have relevant skills (three staff attended an MFS advanced workshop).
- CBJ operates under law number 23 of the Year 1971 with subsequent amendments; Article 4 responsibilities include issuing the Jordanian Dinar, conducting monetary policy, providing banking services to central government, supervising commercial banks and other financial intermediaries, and managing international reserves.
- MOF is Jordan’s fiscal agency with legal responsibility for liabilities to the IMF and legal ownership of claims on the IMF; CBJ is MOF’s depository agent with legal responsibility for maintaining accounts with the IMF.
- Note on CBJ law 1971 article (56): any loss or profit arising from revaluation of CB assets and liabilities in gold or foreign currencies as a result of changes in par value of any foreign currency shall be excluded from the statement of profit and loss and carried in a special account; CB may allocate funds or use general reserve, on Board recommendation and Council of Ministers approval, to cover such losses.

### Financial system structure and key statistics (end 2017 unless otherwise noted)
- Financial system composition:
  - Dominated by Other Depository Corporations (ODCs), which constitute around 63 percent of the financial system’s assets.
  - Other Financial Corporations (OFC) sector constitutes around 37 percent of assets.
  - Institutional coverage: Central Bank of Jordan (CBJ), 25 operating banks, two (nonoperating) banks in liquidation; 16 domestic banks (3 Islamic), 9 branches of foreign banks (including one foreign Islamic bank).
  - OFCs largely under CB supervision except insurance corporations and Amman Stock Exchange; changes in supervisory framework for insurance corporations are underway.
- Table of selected sectoral figures (values preserved as reported):
  - Central Bank of Jordan: Number of institutions 1; Total assets DJA 13,367.6 million.
  - Other Depository Corporations: Number of institutions 25; Total assets DJA 49,102.4 million; Share of assets in total assets 63.
    - National Banks: 16; Total assets DJA 44,579.3 million; Share 57.
    - Commercial Banks: 13; Total assets DJA 37,149.5 million; Share 47.
    - Islamic Banks: 3; Total assets DJA 7,429.8 million; Share 9.5.
    - Foreign Banks: 9; Total assets DJA 4,070.6 million; Share 5.2.
    - Commercial Banks (foreign): 8; Total assets DJA 3,475.2 million; Share 4.4.
    - Islamic Banks (foreign): 1; Total assets DJA 595.4 million; Share 0.7.
    - Banks under liquidation: 2; Total assets DJA 452.5 million; Share 0.6.
  - Other Financial Corporations: Number of institutions 42*; Total assets DJA 28,882.7 million; Share 37.
    - Insurance companies: 24; Total assets DJA 948 million; Share 1.2.
      - Life insurance: 1; Total assets N/A.
      - General insurance: 8; Total assets N/A.
      - Life and general insurance: 15.
    - Mutual Funds: 4; Total assets DJA 3.4 million; Share 0.
      - Under liquidation: 1.
    - Social Security Investment Fund**: 1; Total assets DJA 9,239.1 million; Share 12.
    - Deposit Insurance companies: 1; Total assets DJA 694.3 million; Share 0.9.
    - Jordan Loan Guarantee corporations: 1; Total assets DJA 177.7 million; Share 0.2.
    - Jordan Mortgage Refinance Company: 1; Total assets DJA 430.6 million; Share 0.6.
    - Exchange Companies**: 140; Total assets DJA 149 million; Share 0.2.
    - Micro-finance company: 9; Total assets DJA 278 million; Share 0.3.
    - Amman Stock Exchange (Market capitalization): 1; Total assets DJA 16,962.6 million; Share 22.
  - Notes:
    - Source: CBJ and IMF staff calculations.
    - *Except Exchange Companies.
    - **Preliminary (at the end of 2016).
    - **Social Security Investment Fund is classified under central government in the SRFs.

### Detailed technical assessment
- Implementation of previous mission recommendations:
  - Since 2008, source data for CB and ODCs have been improved and are now more suitable for SRF 1SR and 2SR compilation, but compilation of SRFs had not been finalized prior to this mission.
  - CB trial accounts show progress on sectorization and classification of financial instruments; however, financial derivatives are not separately identified and no breakdown by currency or sector is available.
  - ODCs implemented new call reports in December 2014 containing more comprehensive sectorization and classification suitable for SRF compilation.
  - Human resource improvements: MFS compilation team is newly hired and three members participated in IMF MFS workshops.
- Recommended Action:
  - CBJ to continue staff training by encouraging participation in IMF MFS training courses.

- Compilation of Monetary and Financial Statistics:
  - The mission built bridge tables linking May 2018 source data to SRFs; CBJ should use these bridge tables to compile SRFs back to December 2014 and start submitting SRFs to STA.
  - Recommended Action: CBJ to start submitting SRF 1SR on a regular basis to STA for publication in IFS.

- Quality assessment and sectorization issues:
  - Main issue: sectorization of financial instruments not fully aligned with MFSMCG; in particular, classification of the Social Security Corporation (SSC) deviates from MFSMCG recommendations.
  - Public sector sectoring required adjustments:
    - Public sector breakdown in Jordan’s MFS: central government and public institutions.
    - Central government contains budgetary central government and extra-budgetary agencies (mapped under central government in SRF 1SR).
    - SSC had been classified as a public non-financial corporation; mission suggested reclassifying SSC under central government as it is a compulsory scheme covering a large section of the community.
    - Municipalities and local councils remapped under local government.
  - Recommended Action:
    - CBJ to adopt MFSMCG classification of resident sector data by: (i) central government; (ii) state and local government; (iii) public nonfinancial corporations; (iv) other nonfinancial corporations; (v) ODCs; (vi) OFCs; and (vii) other resident sectors.
    - Communicate to BSD the list of sectors and implement the new sectorization in the call reports.

- Standardized Report Form 1SR (CB):
  - Accounting principles broadly align with IMF methodology, with some departures related to market valuation.
  - CBJ adopts International Financial Reporting Standards. Only securities held for trading are revalued at market value (representing 80 percent of the securities); the mission indicated that all securities should be valued at market value.
  - Classification broadly conforms to MFSMCG, but further improvement needed in classification of accrual interest.
  - IMF accounts were reviewed and remapped under correct items (example: Extended Fund Facility previously included in IMF No 1 Account was remapped under Use of Fund Credit).
  - Quota and IMF No.1 accounts: quota recorded in MOF book as MOF is responsible for IMF accounts.

*Source: IMF Country Report No. 19/139 — Technical Assistance Report: Monetary and Financial Statistics Mission (January 2019).*

### Section 2

### Section 2

### Accrued interest recording and sector counterpart
- In the CBJ trial accounts the accrual interests are not associated with its corresponding financial instruments but classified under other assets/liabilities.
- DIFO confirmed the availability of the data by sectors, and agreed to sharing the information on the sector counterpart with the Research Department and SD in order to associate it with its underlying financial instruments.
- Recommended Action: MAD to undertake a project in collaboration with DIFO to provide the counterpart sector of the accrual interest recorded in the miscellaneous assets/liabilities and classify it under its corresponding financial instruments.

### Valuation adjustment classification
- The main departure from the methodology of the MFSMCG that persists is regarding the classification of the valuation adjustment.
- The amount of the valuation adjustment account represents the differences in the valuation of foreign currencies and gold.
- In 2015, the law related to the treatment of the valuation adjustment was amended and the valuation adjustment which was previously booked under equity are presented under the other assets if its balance was debit, or under the liabilities if its balance was credit.
- While the treatment of the valuation adjustment in the balance sheet differs from the International Financial Reporting Standards CBJ discloses the amounts related to the valuation adjustment of the financial statements in the annual report publication release.
- CBJ should continue to disclose and monitor this amount so that policy makers can assess its impact on equity.

### Standardized Report Form 2SR, call reports, and ODCs accounting
- The banks submit their call reports to CBJ on a regular basis containing granular information on the sectorization.
- The main component of the reports is the balance sheet, which is accompanied by two schedules that provide further granularity and contain the deposit and credit breakdown by sectors.
- The banks upload their financial statements and other supervisory information to CBJ via an application within 10 days of the relevant month.
- The data are processed by CBJ in about two weeks and shared with the Research Department and SD.
- The accounting and valuation methodology implemented by the ODCs in Jordan are broadly in line with the recommended compilation practices identified in the MFSMCG.
- All commercial banks in Jordan began to comply with the International Financial Reporting Standards 9 in 2012.
- The main deviation to the methodology of the MFSMCG is the non-availability of the classification of the accrued interest by sectors.
- Going forward, CBJ may consider the implementation of additional statement in the call reports collecting the interest rates by sectors. This departure would be documented in the metadata.
- Recommended Action: MAD should collaborate with SD to implement the counterpart sector of the accrued interest in the new call reports and associate it with its corresponding financial instruments.
- The mission mapped the aggregated call reports of all ODCs for May 2018 to the SRF 2SR form, developing a simpler tool to be used by the authorities.
- The mission re-mapped the source data, using data from the aggregated balance sheet of the banking sector and the accompanying schedules through a bridge table.
- The mission built a time series for all the required data and created a tool linking the data to the SRFs. The tool provides CBJ staff with a simpler method for data compilation.

### Action Plan — Outcomes, benchmarks, and target completion dates
- Outcome: Source data are adequate for the SRFs
  - Priority: H
  - Benchmark: The compilation of the SRFs follows the sectorization of the last manual. Adopt the MFSMCG sectorization scheme by subdividing resident sector data by: (i) central government; (ii) state and local government; (iii) public nonfinancial corporations; (iv) other nonfinancial corporations; (v) ODCs; (vi) OFCs; and (vii) other resident sectors.
  - Action: Communicate to the BSD the list of sectors and implement the new sectorization in the call reports.
  - Target Completion Date: December 2019
  - Outcome: A new data set has been compiled and disseminated internally and/or to the public.
- Outcome/Benchmark: New SRFs for the CB, as set out in the MFSMCG, are available for compiling surveys for the financial corporations’ sector and its subsectors.
  - Action: Report regularly to IMF STA monthly ODCs data using SRF 2SR for publication in IFS and use by MCD.
  - Target Completion Date: December 2018
  - Status: Completed
  - Priority: H
- Outcome/Benchmark: New SRFs for the ODCs, as set out in the MFSMCG, are available for compiling surveys for the financial corporations’ sector and its subsectors.
  - Action: Report regularly to IMF STA monthly CBJ data using SRF 1SR for publication in IFS and use by MCD.
  - Target Completion Date: December 2018
  - Status: Completed
  - Priority: H

- Outcome: Data are compiled and disseminated using the appropriate basis of recording consistent with the latest manual/guide (DQAF 2.4).
  - Priority: M
  - Benchmark/Action (CB): The compilation of the SRF for the CB fully follows the basis of recording set out in the MFSMCG. Implement a project with the collaboration of DIFO to provide the counterpart sector of the accrual interest recorded in the miscellaneous assets/liabilities. Associate the accrued interests with their underlying financial instruments in the assets/liabilities.
  - Target Completion Date: December 2020
  - Benchmark/Action (ODCs): The compilation of the SRF for the ODCs fully follows the basis of recording set out in the MFSMCG. Undertake with the collaboration of BSD a project providing the counterpart sector of the accrued interests recorded in the miscellaneous assets/liabilities. Associate the accrued interests with their underlying financial instruments in the assets/liabilities.
  - Target Completion Date: December 2020

- Outcome: Staff capacity has increased through training, especially on developing source data, compilation methods, and dissemination (DQAF 0.2)
  - Priority: M
  - Indicator: The number of the trained staff is adequate for the compilation of these statistics.
  - Action: Continue to train their staff by having them participate in the IMF training courses.
  - Target Completion Date: April 2019

### Officials met by the mission
- A list of officials met by the mission is provided, including representatives from the Research Department, Banking Supervision Department, Investment and Foreign Operations Department, and others. Names include, for example, Dr. Hassan Barakat (Executive Manager, Research Department); Dr. Nedal Alazzam (Executive Manager Assistant, Research Department); Dr. Talal Hammouri (Head of Statistics Division, Research Department); Ziad Ghnama (Executive Manager, Banking Supervision Department); and Ghassan Khader (Executive Manager Assistant, Investment and Foreign Operations Department), among others.

*International Monetary Fund — 1jorea2019002 - Section 2*

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_Source: https://www.imf.org/-/media/files/publications/cr/2019/1jorea2019002.pdf_