Under the patronage of H.E. Dr. Khaldoun Alwshah, the Central Bank of Jordan and the Jordan Payments and Clearing Company (JoPACC), in collaboration with the Alliance for Financial Inclusion (AFI), have co-hosted an AFI Member Training on Inclusive Instant Payment Systems to Drive Financial Inclusion in Amman, Jordan, for 60 representatives from 36 countries.
Over the course of four days, participants attended more than 15 speaker sessions and panel discussions, where they gained valuable knowledge and insights about digital financial payments, taking a deep dive into instant payment systems, their implementation nationwide, and their contribution to financial inclusion.
These sessions provided a platform for diverse perspectives and fostered an environment of collaboration. As a result, participants engaged in lively discussions, sparking numerous conversations among the members about how they could leverage each other’s experiences and areas of expertise. They shared innovative ideas, best practices, and lessons learned from their respective regions, with a common goal of advancing instant payment systems. These exchanges not only enriched the learning experience but also created a sense of collective purpose, as participants recognized the potential of working together to push instant payment solutions to new heights. The discussions highlighted the opportunities for cross-collaboration, with the aim of optimizing efficiency, driving innovation, and furthering the goal of inclusive financial access for all. The training sessions provided invaluable insights into the history and evolution of the instant payment system in Jordan, delving into the technicalities, and key regulations within the financial ecosystem.
Speakers shared in-depth knowledge of how instant payment systems have shaped the digital economy, driving innovation and growth. They also highlighted the profound social impact of instant payment systems, particularly in enhancing the quality of life and preserving the dignity of underserved and marginalized groups: refugees, aid beneficiaries, and women, emphasizing how these payment systems are not only transforming economies but also creating more inclusive, equitable societies.
“Instant payment systems are pivotal to the digital transformation of the financial sector, offering a unique opportunity to broaden access to credit, savings, and insurance, which in turn promotes economic inclusivity and financial integration,” said H.E. Dr. Khaldoun Al-Wshah, Deputy Governor of the Central Bank of Jordan.
Maha Bahou, CEO of the Jordan Payments & Clearing Company, stated, “CliQ has made a significant contribution to enhancing financial inclusion in Jordan, with its user-friendly and convenient features building national trust and confidence in digital financial services, A diverse range of users, including those who were once excluded from conventional banking, are now fully engaged in the digital economy.”
It is worth highlighting that Jordan was selected to host this important training due to the remarkable success of its CliQ platform, which has played a key role in advancing financial inclusion nationwide. This success has positioned Jordan as a leader in digital financial services, making it an ideal location to share its experiences and best practices with global stakeholders.
