General Information

First: Establishment of the Central Bank of Jordan (CBJ)

Jordan set out preparations to establish the CBJ in the late 1950s. The Law of the CBJ was issued in 1959. Thereafter, its operational procedures were commenced on the first day of October 1964. The CBJ succeeded the Jordan Currency Board, which had been established in 1950. The capital of the CBJ, which is fully owned by the Jordanian state, was increased gradually, from one million to forty-eight million Jordanian Dinars according to Central Bank of Jordan Law No. (23) of 1971 and the Amendments Thereto. The CBJ enjoys the status of an autonomous corporate body in accordance with the provisions of its Law.

Second: Objectives of the CBJ

The CBJ aims at maintaining monetary stability in the Kingdom, ensuring the convertibility of the Jordanian Dinar, contributing to achieving the banking and financial stability in the Kingdom, and promoting the sustained economic growth in accordance with the general economic policies in the Kingdom.

Third: Functions of the CBJ

In order to achieve its objectives, the CBJ performs the following functions:

1. Formulating and implementing the monetary policies in the Kingdom.
2. Determining the regime and policy of the Dinar exchange rate.
3. Supervision and oversight of banks to ensure the soundness of their financial positions and the protection of the rights of depositors and shareholders in accordance with the provisions of the legislations in force and the rules of governance set by the CBJ pursuant to the instructions issued for this purpose.
4. Supervision and oversight of any financial institution subject to its supervision to ensure the soundness of its financial position in accordance with the provisions of the legislations in force and the governance rule set by the CBJ pursuant to the instructions issued for this purpose.
5. Organizing and developing the National Payment System to ensure the provision of safe and efficient payment, clearing and settlement systems in the Kingdom.
6. Regulating credit to achieve monetary and financial stability and the requirements of economic growth.
7. Issuing banknotes and coins.
8. Maintaining and managing the gold and foreign currency reserves of the Kingdom.
9. Adopting appropriate measures to address the economic and financial problems.
10. Acting as a banker for the banks and specialized credit institutions.
11. Acting as a banker and fiscal agent for the government and public entities.
12. Advising the government on the formulation and the manner of implementation of its fiscal and economic policy.
13. Setting the rules and controls necessary for the dealings between banks and financial institutions with their customers in a fair and transparent manner.
14. Increasing the public’s awareness on banking and financial activities. 
15. Carrying out any other function normally performed by central banks, as well as any duties entrusted to it under this law, or any other law, or under any international agreement to which the government is a party.

Contact Information

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