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IMF Reports Positive Evaluation of Jordan’s Retail Payment Market for Digital Currency Launch

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It is reported that the International Monetary Fund (IMF) released a technical report on the launch of the retail central bank digital currency (rCBDC) in Jord…

IMF Reports Positive Evaluation of Jordans Retail Payment Market for Digital Currency Launch

It is reported that the International Monetary Fund (IMF) released a technical report on the launch of the retail central bank digital currency (rCBDC) in Jordan on February 23. It is reported that the International Monetary Fund conducted a three-month investigation last year. During its work from July to September 2022, the IMF gave a basically positive evaluation of the country’s existing retail payment market, saying that it was well integrated. The report points out that two non-bank payment service providers (PSPs) have “generally available and appropriate products”, and the penetration rate of smart phones in the country is high.

IMF provides the Bank of Jordan with suggestions on the implementation of retail CBDC

Interpretation of the news:


The International Monetary Fund (IMF) has released a technical report regarding the launch of the retail central bank digital currency (rCBDC) in Jordan on February 23. This report is a result of the three-month investigation conducted by the IMF from July to September 2022. The report evaluates the country’s existing retail payment market and provides an overall positive assessment of the integration of the system.

The IMF states that the country’s retail payment market is well integrated and that there are two non-bank payment service providers (PSPs) that have “generally available and appropriate products.” This means that there are already established financial institutions in Jordan with the necessary infrastructure and expertise to support the launch of a retail central bank digital currency.

Another favorable factor identified by the IMF report is the high penetration rate of smart phones in the country. The use of mobile devices has become increasingly popular among Jordanians, and this trend will make it easier for consumers to adopt new digital payments methods such as a retail central bank digital currency.

Overall, the IMF’s report is a positive development for Jordan’s central bank digital currency project, as it demonstrates that the country’s retail payment market is ripe for the adoption of a digital currency. The report highlights the country’s existing financial infrastructure and the high penetration rate of mobile devices, which are two critical factors for the successful launch of a digital currency.

In conclusion, the IMF’s report is a significant milestone for Jordan’s central bank digital currency project. However, challenges still remain, such as ensuring the security and privacy of digital transactions and ensuring that the technology is accessible and user-friendly for all members of society, including those without access to smartphones or other digital devices.

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