JoPACC and the Association of Banks in Jordan Join Forces to Boost Financial Literacy and Inclusion Across the Kingdom

The Jordan Payments and Clearing Company (JoPACC) and the Association of Banks in Jordan (ABJ) have signed a Memorandum of Understanding (MoU) that aims to enforce collaboration in more aspects and areas to better serve financial literacy and inclusion among various segments of Jordanian society. 

This collaboration will take many forms, the most important of which is the integration of ABJ’s latest project, “FinApp,” and the Application Programming Interfaces (APIs) for Open Banking, which JoPACC standardized earlier this year in partnership with the commercial banks in Jordan. These APIs allow access to information regarding the banks’ branches, ATMs, opening hours, and all sorts of available services and products. This platform’s importance lies in providing easy access to updated information about all banks and financial institutions which reinforces financial inclusion within the public in Jordan. 

Another aspect of this collaboration will be knowledge dissemination within the digital financial services area by developing and producing financial literacy material and publishing it for the public on FinApp. JoPACC will provide and build more on the already existing material to ensure cohesive financial knowledge nationwide. 

JoPACC, alongside the Association of Banks in Jordan, will also organize multiple digital financial services training sessions and workshops through the ABJ’s partners’ network in various governorates in Jordan. This will aim to reach underserved communities, specifically students, women, and refugees. This comes in line with one of JoPACC’s main strategic pillars: Data Analytics and Knowledge Production and Dissemination. 

Her Excellency Ms. Maha Bahou, CEO of JoPACC, commended this partnership with the Association of Banks, focusing on its vital support for the digital economy in Jordan. Ms. Bahou stated:” The Association of Banks has always been one of JoPACC’s top supporters, and we’re very proud and excited to take this partnership to a new level.”