Mobile Financial Services in Jordan

Promoting financial inclusion via mobile financial services in Jordan




The Central Bank of Jordan is responsible for maintaining a stable monetary system and promoting economic growth as per the strategy enumerated by the Jordanian government.


As mobile payments became increasingly prevalent in Jordan, the Central Bank sought to strengthen its oversight function to avert risks posed by new forms of payment transactions and maximize the use of this platform as a means of expanding financial inclusion.



Stronger oversight function and a more robust regulatory framework.

Improved regulatory clarity, enabling service providers’ expansion into untapped markets.

Better risk management guidelines for mobile payment services providers.


Increased financial inclusion of untapped markets, resulting from growth of the mobile payment ecosystem permitted by an improved regulatory framework and oversight function of the Central Bank.

Improved consumer protections and data privacy.

Descreased risk to the Jordanian economy by the expansion of mobile money platforms as they will be appropriately regulated.


Evaluated the current state of the Central Bank of Jordan’s existing oversight powers and resources, data collection methodology and reporting process.

Identified the initial risk categories facing mobile financial service providers including JoMoPay and associated systems (such as the RTGS-JO and eFawateercom), and proposed a risk management framework.

Engaged with various industry stakeholders to support the growth of a viable mobile payment ecosystem.

Assessed the market orientation of various industry players, including their position in the market, payments products and services (existing and planned), target segments, and financial inclusion strategies as well as their interactions with the Central Bank of Jordan.

Developed improved regulatory mechanisms for the Central Bank of Jordan, proposing policy recommendations, data collection methodology, and guidelines for data privacy and consumer protection.


To reach untapped markets and promote financial inclusion, service providers must develop innovative solutions including mobile money platforms. Yet, these new channels pose new risks and regulatory challenges for central banks tasked with oversight of the monetary system. Through its work with the Central Bank of Jordan, Enclude gained insights on several of key risk factors related to mobile financial service and developed ways that these risks may be mitigated through an enabling environment. Enclude used the insights gained, as well as its knowledge of mobile money regulation and strategies, to create progressive policy that will enhance the growth of the mobile money industry and enable it to better reach unbanked markets.