The Central Bank of Jordan and Jordan Telecom sign an agreement of Cheques e-Clearing System in Jordan

Jordan Telecom put in place the hi-tech infrastructure that would ensure full achievement of Agreement objectives. Fiber optic cables were installed in the Central Bank, and connection is secured over high speed digital lines. The Agreement will enable Jordan Telecom demonstrate its network's high capabilities and advanced technologies, as well as the services it provides to its customers in support of Jordan's economic, industrial and investment activities.

"The Agreement aims to link all operating banks in Jordan with the Central Bank network, which would ease and reduce time consumed in clearing operations amongst them" Laurent Mialet, CEO, Jordan Telecom said. "We are offering the best technologies available on an international level."

In its supervisory and regulatory role, the Central Bank has always aspired to modernize technologies it uses in the financial industry. The Bank endeavours to remain in pace with international economy trends.

"This Agreement represents a major step in implementing the Image-Based Electronic Chequess Clearing System in Jordan, consistent and supportive to our vision at the Central Bank to have modern, sound, stable, competitive and efficient banking systems", Dr Ummaya Toukan, Governor, Central Bank of Jordan said.

Chairman of Jordan Telecom, Dr Shabib Ammari affirmed that this agreement comes to translate the vision of His Majesty King Abdullah in the ICT field. Furthermore, the agreement will enhance the economic and finance sectors in Jordan, through this cheques e-clearing system. "Jordan is the second country internationally that executes such an important project," Dr Ammari said. "We are able to accommodate such demands as a result of our accumulated achievements and work in upgrading the infrastructure necessary to offer advanced telecom services, in line with international practices."