Central Bank of Jordan

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Central Bank of Jordan
Headquarters Amman , Jordan
founding 1964
country Jordan
currency

Jordanian dinar

ISO 4217 IODINE
Currency reserves US $ 12.2 billion (October 2019)
Website

www.cbj.gov.jo

List of central banks

The Central Bank of Jordan ( CBJ ; Arabic البنك المركزي الأردني, DMG al-Bank al-Markazī al-Urdunnī ) is the central bank of Jordan . Its main tasks are the issuance of the national currency ( Jordanian dinar ) and the maintenance and management of the national gold and foreign exchange reserves. The bank also ensures the security of the banking system in Jordan through regulation and supervision.

history

Jordan prepared the establishment of the Central Bank of Jordan (CBJ) in the late 1950s. The law on the CBJ came into force in 1959. The bank started operations on October 1, 1964. The CBJ succeeded the Jordan Currency Board established in 1950. The capital of the CBJ is wholly owned by the government and has been gradually increased. The CBJ enjoys the status of an independent and autonomous body, although its capital is wholly owned by the government.

Functions

The Central Bank of Jordan performs the following functions:

  • Issuing and regulation of banknotes and coins.
  • Preservation and management of the kingdom's gold and foreign exchange reserves.
  • Acting as a banker for the government and public institutions.
  • Function as a banker for banks and specialized credit institutions.
  • Maintaining the security and soundness of the banking system.
  • Advising the government on the formulation and implementation of financial and economic policy.
  • Addressing currency problems and preventing local economic problems.
  • Regulation of the flow of credit.
  • Representation of the country in international institutions.

Individual evidence

  1. ↑ Jordan Foreign Exchange Reserves . ceic.com. Accessed January 10, 2020 (English)
  2. ^ Objectives and Tasks - The Central Bank of Jordan. Retrieved January 10, 2020 .