Amman: The Institute of Banking Studies (IBS) and the European Bank for Reconstruction and Development (EBRD) have signed a memorandum of cooperation aimed at advancing comprehensive digital finance practices in Jordan.

Riyad Hindawi, Director General of the IBS, underscored that the agreement signifies a joint commitment to promoting equal opportunities through financial and digital technology solutions, building on the longstanding partnership between the two entities. He emphasized the agreement’s role in enhancing the cooperative partnership’s framework, according to an IBS statement on Sunday.

The memorandum establishes a platform for dialogue, fostering cooperation between the IBS and the EBRD in the realm of comprehensive digital finance, as outlined by Hindawi.

Gretchen Biery, Director for the Eastern Mediterranean Region at the EBRD, highlighted the importance of digital financial solutions and financial technology in bolstering financial inclusion in Jordan.

She praised the IBS’s pivotal role in
strengthening the financial technology ecosystem within the national strategy for financial inclusion, noting the joint efforts to enhance Jordan’s digital finance ecosystem.

Biery outlined the EBRD’s support for the IBS in capacity building within the financial sector, particularly in the realms of FinTech and digitalization. She mentioned plans to establish a regional center of excellence to inform the regulatory framework of Jordan’s FinTech ecosystem and enhance financial sector capabilities through the IBS.

This partnership aligns with the IBS’s commitment to providing top-tier education, training, and development opportunities for professionals in the financial and banking sectors. It aims to elevate awareness and knowledge within the banking sector while enhancing the skills of trainees and professionals alike.

Source: Jordan News Agency