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Central Bank of Jordan

 

Central Bank of Jordan Logo

The Central Bank of Jordan (Arabic: البنك المركزي الاردني, CBJ) is the central bank of Jordan whose main duties include the release and distribution of the Jordanian currency and the maintenance of a national reserve of gold and foreign currencies. The CBJ enjoys the status of an independent and autonomous corporate body, although its capital is owned entirely by the government.

 
 

The bank also maintains and insures the safety of the banking environment in Jordan. The law establishing the CBJ stipulates that 'the objectives of the Central Bank shall be to maintain monetary stability in the Kingdom, to ensure the convertibility of the Jordanian Dinar, and to promote the sustained growth of the Kingdom's economy in accordance with the general economic policy of the government.'

To achieve the above-mentioned objectives, the CBJ's functions have evolved to include the following:

 ♦ Issuing and regulating bank notes and coins;
 ♦ Maintaining and managing the Kingdom's reserves of gold and foreign exchange;
 ♦ Acting as a banker and fiscal agent to the government and public institutions;
 ♦ Acting as a banker to banks and specialized credit institutions;
 ♦ Maintaining the Safety of the Banking System;
 ♦ Advising the government on the formulation and implementation of fiscal and economic polices;
 ♦ Managing monetary problems and participating in containing local economic problems;
 ♦ Regulating credit.

In addition to the above mentioned functions, the CBJ has effectively participated in the establishment of a number of financial institutions and corporations, such as Amman Stock Exchange, Jordan Mortgage Refinance Company, Jordan Loan Guarantee Corporation, Deposit Insurance Corporation, all of which have played an evident role in supporting economic development efforts in Jordan.

 

Central Bank of Jordan HQ Location Map

Central Bank of Jordan
HQ Address: P.O. Box (37)
Amman 11118
Jordan
Telephone: +962 6 463 0301 - 10
Facsimile: +962 6 463 8889
Website: www.cbj.gov.jo
Swift Code: CBJOJOAX
Currency: Jordanian Dinar
Banking Hours:
Sunday - Thursday : 8.30am - 3.00pm
 

 

Like other Central Banks in the world, the functions of CBJ include providing banking services to the Government of Jordan and financial institutions, issuing the domestic currency, regulating commercial banks and other financial institutions, providing economic advice to the Government, conducting research and publishing information on monetary and other economic developments. Only notes and coins issued by the Central Bank shall be legal tender in Jordan.

 

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