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Sharkas emphasises CBJ efforts to improve cyber security in banking sector

By JT - Feb 23,2022 - Last updated at Feb 23,2022

AMMAN — The Central Bank of Jordan (CBJ) has worked in recent years to improve cyber security throughout the institutions working at the banking sector, CBJ Governor Adel Sharkas said on Tuesday.

During the opening of the third session of the Arab Banking Cyber Security Forum, that will last for two days, Sharkas said that the CBJ has published instructions for dealing with cyber threats that can serve as a standard for cyber security in banking, according to the Jordan News Agency, Petra.

Sharkas added that, earlier this year, the CBJ created a special unit to respond to cyberattacks against the banking and financial sectors. 

The new unit is also working with the banking sector in coordination with the National Centre for Cyber Security to improve cyber security and evaluate the preparedness of different organisations.

The CBJ, through past years, has worked on improving the financial sector’s infrastructure, including e-pay systems, as part of its interest in enhancing “financial inclusion” through providing many types of e-pay such as eFAWATEERcom and JoMoPay, according to Sharkas.

In the past two years alone, settlements of e-payments in Jordan became viral among Jordanians, totalling nearly JD14 billion, he noted.

Bassem Al Salem, chairman of the board of directors of the Association of Banks, stressed the importance of cyber security, adding that banks in Jordan have made significant gains in this area in recent years and reaching great levels of security in this regard.

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