The Crown Prince Foundation (CDF) signed a memorandum of understanding with the Central Bank of Jordan (CBJ) to jointly develop Jordan's financial technology (fintech) sector to serve youth and startups.
The memorandum, which was signed by Tamam Mango, CEO of the CPF, and Adel Sharkas, Deputy Governor of the CBJ, aims at supporting the bank's efforts to boost the fintech sector.
The MoU also seeks to build on international experiences in this sector from a youth perspective, design capacity-building programs to Jordanian startups, enhance young people's fintech skills, and forge a pioneering business model to provide a supportive environment for fintech in Jordan.
On the CBJ's efforts in the sector, Sharkas said the bank supported several initiatives and innovations, pointing to their key role in enhancing financial inclusion, achieving a digital economy and enhancing competitiveness on the national level.
He affirmed that the partnership and cooperation between the private and public sectors are the reason behind the success of the CBJ's approach to attain its objectives.
During the signing ceremony, Mango underlined the importance of the rapidly developing financial technology sector, adding the sector is part of the foundation's business strategy.