IMF makes suggestions for introducing retail CBDCNEWS to Jordan’s central bank. With the conclusion of an International Monetary Fund technical report on the nation’s markets, the Central Bank of Jordan is one step closer to taking the next step toward a retail central bank digital currency (rCBDC).
The report gave a largely positive assessment of the nation’s current retail payment market, noting that two non-bank payment service providers (PSPs) have “generally accessible and appropriate product” and that smartphone adoption is high in the nation. The IMF warned to avoid disintermediation in the Jordanian financial system, as it could contribute to instability in times of stress. One of the problems a rCBDC will not address is a persisting cash culture. Another is low financial literacy.
