Strategic partnership between Optimiza and the Central Bank of Jordan

Aimed at upgrading and automating the supervision and communication procedures between CBJ and all licensed banks in Jordan through the adoption of a modern electronic files format to replace the previous traditional method.

Upgrading systems and procedures is a priority for CBJ. Therefore, and within Optimiza's agreement with the USAID-funded SABEQ project, Optimiza was chosen to design a new online system for the uploading of electronic files, and provide CBJ with a guidance document on the use of the system, in order to create a uniform method of communication within a secure network connecting the different CBJ departments on one hand and CBJ with licensed local banks on the other hand, as well as ensuring a more rapid, accurate and efficient performance of the whole banking system.

Compliance with this format will be compulsory for the 23 licensed banks in Jordan. CBJ will provide the banks with the required electronic file format to ensure compliance with the new system before the grace period elapses in order to avoid the automatic rejection of their files and any consequent penalties.

Mr. Kamal Hazboun, Optimiza Chief Technology Officer, expressed his pride with this partnership, which exemplifies the collaboration between the private and public sectors, and said, "Our partnership with a major national institution like the Central Bank of Jordan is an added-value to our achievements. This partnership affirms our insight to provide official establishments with advanced technology solutions, and reflects our commitment to support CBJ's outstanding work."

He added, "We thank CBJ for their trust in our services and systems; and we are confident that together we will achieve success and progress to serve Jordan's banking sector."

Mr. Zaid Tarawneh, CBJ-OSS Project's Manager at CBJ, said, "This project falls in line with CBJ's vision and strategy to upgrade its banking supervision system, increase security measures, and stay abreast with international development in the field."

Back in July 2007, Optimiza won the bid to implement the first phase of the CBJ-OSS project. New systems and features were introduced to the Bank's supervision systems, followed by an identification of additional developmental needs related to the automation at CBJ. To achieve these requirements, CBJ drew up the plan for stage 2 of the project in cooperation with an expert team from Optimiza.