## Jordan: Retail Central Bank Digital Currency Exploration

_High-Level Summary Technical Assistance Reports, February 23, 2023_

## Source details

**Canonical URL:** [Jordan: Retail Central Bank Digital Currency Exploration](https://www.imf.org/en/publications/high-level-summary-technical-assistance-reports/issues/2023/02/23/jordan-retail-central-bank-digital-currency-exploration-530066)

## Other formats

- [Markdown version](/en/publications/high-level-summary-technical-assistance-reports/issues/2023/02/23/jordan-retail-central-bank-digital-currency-exploration-530066/index.md)
- [Structured JSON version](/en/publications/high-level-summary-technical-assistance-reports/issues/2023/02/23/jordan-retail-central-bank-digital-currency-exploration-530066/index.json)
- [Bundle manifest](/en/publications/high-level-summary-technical-assistance-reports/issues/2023/02/23/jordan-retail-central-bank-digital-currency-exploration-530066/bundle-manifest.json)

## Bibliographic details
- Authors: Natsuki Tsuda, Marianne Bechara, Stephanie Forte, Kathleen Kao, Shuji Kobayakawa, Ashley Lannquist, Frankosiligi Solomon
- Published: February 23, 2023
- Series: High-Level Summary Technical Assistance Reports

---

### Summary findings
- The International Monetary Fund (IMF) analyzed the retail payments markets of Jordan to identify pain points that retail Central Bank Digital Currency (rCBDC) could address.
- Retail payment systems in Jordan are highly integrated, enabling customers to make interoperable transactions between banks and non-bank Payment Service Providers (PSPs).
- The country’s cross-border remittance market is competitive, but may benefit from the reduced transactions cost associated with rCBDC.
- Despite generally accessible and appropriate product offerings and an enabling environment, various barriers prevent customers from extensively using digital means of payment.
- rCBDC might create an opportunity to overcome these barriers, thus making a cross-border rCBDC worth consideration.
- The Central Bank of Jordan (CBJ) should rigorously evaluate benefits against risks and costs before forging ahead.
- Meanwhile, the CBJ should develop capacity to address technology, cybersecurity, financial integrity, and legal issues.

### Policy recommendations and next steps
- Rigorously evaluate benefits against risks and costs of introducing a retail CBDC.
- Develop CBJ capacity on:
  - Technology
  - Cybersecurity
  - Financial integrity
  - Legal issues

---

## Content in this bundle

- **Hlsea2023001**
  - [Hlsea2023001 (Markdown version)](/-/media/files/publications/hls/2023/english/hlsea2023001.pdf.md){rel="alternate" type="text/markdown"}
  - [Hlsea2023001 (PDF)](/-/media/files/publications/hls/2023/english/hlsea2023001.pdf){rel="external" type="application/pdf"}

---

_Source: https://www.imf.org/en/publications/high-level-summary-technical-assistance-reports/issues/2023/02/23/jordan-retail-central-bank-digital-currency-exploration-530066_