CBJ and AFI co-host the Global Policy Forum 2022

(Photo: CBJ)
AMMAN — Under the auspices of His Majesty King Abdullah, the Central Bank of Jordan (CBJ) is hosting the Global Policy Forum (GPF) at the Dead Sea on September 7 and 8. اضافة اعلان

CBJ and the Alliance for Financial Inclusion (AFI) will co-host the forum that will be held under the theme “Moving forward together: Toward a resilient, inclusive, and sustainable future”; it is expected to bring together 600 policy makers from some 80 countries to discuss the latest issues related to financial inclusion.

GPF 2022 will highlight proven financial inclusion policy solutions beyond the COVID-19 pandemic and look toward to the future, focusing on the four pillars of financial inclusion: livelihood, sustainability, social, and innovation.

At a press conference on Sunday, CBJ Governor Adel Al-Sharkas said: “We are very proud of our cooperation with the reputable AFI, and we commend AFI’s efforts and determination to bring all the stakeholders here in Jordan, especially after the pandemic.”

According to Sharkas, Jordan’s joining the alliance means that policymakers get the chance to learn from international expertise in financial inclusion.

He said that “Jordan was the first Arab country to launch financial inclusion”, adding that financial culture is very important and a curriculum was developed for grades 7–12 to educate students on how to develop finance-related projects.

He also spoke about the impact of cybersecurity on financial inclusion, indicating that the CBJ has established a cybersecurity unit to prevent and face potential technological risks, and pointed out that the pillars included in the strategy will remain the same but “we will add more this year; including green growth, national payments, insurance, and saving”.
Jordan rated fourth in the credit index, up from 134 in 2019
The forum is bound to highlight Jordan’s most important initiatives and its promotion of innovation in financial inclusion, in light of the Kingdom’s success in achieving the objectives of the National Strategy for Financial Inclusion (2018- 2020), which resulted in raising the financial inclusion rate from 33.1 percent to 43.1 percent, as measured by account ownership, and reducing the gender gap from 53 percent to 22 percent, according to the preliminary data of the survey of demand and supply carried out by CBJ.

Sharkas said that in the World Bank’s Doing Business 2020 Report, Jordan rated fourth in the credit index, up from 134 in 2019. 

AFI Executive Director Alfred Hannig said that “our task now is to save the knowledge we have in financial inclusion, use it, and prepare for the restoration of the economy”.

Hannig also talked about the technological risks to financial inclusion, including identity theft, and added that “prior to the forum, closed meetings for AFI members will take place” and that “inclusive green finance” is one of the matters the forum will take into account, as it makes financial inclusion more sustainable.

The AFI Global Financial Inclusion Awards will celebrate the members’ achievements at the policy level.

AFI is the world’s leading organization on financial inclusion policy and regulation. Roughly 85 member institutions make up the AFI network including central banks, ministries of finance and other financial regulators from 75 developing and emerging countries.

Hosting the Global Policy Forum is an affirmation of the Kingdom’s pivotal regional and global role in promoting financial inclusion.

The forum is a meeting point for elite representatives of government agencies, institutions, and international financial companies; it highlights the excellence of the Jordanian financial and banking sector at regional and global levels, and the Kingdom’s continuous efforts to achieve sustainable economic growth and enhance economic and financial stability in the Kingdom through financial inclusion policies and strategies.

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