Cairo Amman Bank hosts the Seventh Meeting of The Digital Financial Services Council

Tue, 2018-05-29

Cairo Amman Bank hosted the Seventh Meeting of the Digital Financial Services Council at the beginning of May in cooperation with the Central Bank and the German Agency for International Cooperation (GIZ). The Board members addressed the issue of cross-borders digital transfers and the current plans to have this service launched through payment system using mobile (JoMoPay). Each of the Central Bank and Zain Cash shared information with attendees about how to use the service, while the Consultative Group to Assist the Poor (CGAP) presented explanatory clarification of the options being studied to make the service available in the Jordanian Market. Participants discussed issues of high importance related to cross-borders transfers, such as protecting consumer, anti-money laundering and countering the financing of terrorism, in addition to the technical and technological infrastructure. This information exchange and sharing experiences will have a significant role in enriching decision-making process which contributes to the growth of the Digital Financial Services Sector.
The Digital Financial Services Council was established more than a year and half ago, where it is chaired by the Central Bank and managed by the German Agency for International Cooperation. The Council has about forty-eight institutions including regulatory and supervisory bodies of the financial sector, payment services providers, banks and telecom companies in addition to local and international organizations that emerged the digital financial services in their programs.

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