Central Bank of Jordan, RTGS (RTS/X), ACH (BCS/X), SSS (DEPO/X)

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Central Bank of Jordan, RTGS (RTS/X), ACH (BCS/X), SSS (DEPO/X)

As a part of its modernization strategy, the Central Bank of Jordan (CBJ) is reforming the national payment system of the Kingdom of Jordan. СBJ has  implemented in 2015 a modern and efficient Real Time Gross Settlement (RTGS) system that copes with the best practices and new Financial Market Infrastructure (FMI) Principles. RTGS system unities all commercial banks in the Kingdom in addition to Security Depository Center working via SWIFT network as their primary delivery channel and having interbank private network as backup solution. Another monetary area that needs to be regulated, monitored, and controlled by CBJ is Automated Clearing House services to end-consumers with clearing and settlement enabled among financial parties. The new ACH system that is under development now will be in line with the international standards related to the Clears industry and will be fully integrated with existing payment systems as well as with the new RTGS system. In February 2016 CBJ launched new Central Securities Depository, Securities Settlement and Online Auctioning System. The system will be used for automation of securities management operations for primary market domain as well as money market operations. RTGS, ACH and Depository solutions were provided to CBJ by Swedish company CMA Small Systems AB.

Status: Currently the RTGS and DEPO/X systems are in commercial operation. ACH system is under implementation.

 

 

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