| Summary: | This paper presents high-level summary technical assistance report on Jordan’s Retail Central Bank Digital Currency Exploration (rCBDC). Retail payment systems in Jordan are well integrated, enabling customers to make transactions between banks and PSPs through JoMoPay and CliQ. The cross-border remittance market is populated by many service providers. The mission explored three policy objectives that a potential rCBDC may help achieve, namely, financial inclusion, domestic payment improvement, and cross-border payment improvement. If the CBJ pursues further work on rCBDC, it should rigorously evaluate benefits against risks and costs. It should also consider the best non-CBDC solutions to address pain points and compare the merits, risks, and costs of rCBDC against those of alternatives. It is recommended to enhance capabilities to protect critical payment infrastructure, including establishing a 24/7 Securities Operations Center for the financial sector. Based on the decisions on the design and use cases, the Central Bank of Jordan should assess the existing legal framework to evaluate: the readiness for the issuance of an rCBDC; and the need for any required legal amendments
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