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JKB hosts Digital Financial Services Council Meeting

Jordan Kuwait Bank (JKB) hosted the Digital Financial Services Council (DFS) meeting on Wednesday 15/11/2017 at the Grand Millennium Hotel in Amman, under the supervision of the Central Bank of Jordan and in coordination with the German Federal Enterprise for International Cooperation (GIZ).The Council is a dialogue forum for policy development that aims at putting in place the framework and recommendations to develop and improve the regulatory framework for digital financial services in Jordan.  The council comprises of several stakeholders, in the forefront of which is the Central Bank of Jordan, he German Federal Enterprise for International Cooperation (GIZ), Jordan Kuwait Bank, the Association of Banks in Jordan, telecom and mobile payment companies (Dinarak, Aya, Zain, Umniah and Solutions), and Exchange companies. The meeting highlighted the importance of strengthening Anti-Money Laundering/Combating the Financing of Terrorism (AML / CFT) practices in the digital financial services sector. Regulators of the sector, such as the Anti-Money Laundering Unit, the Central Bank of Jordan and the Telecommunications Regulatory Authority (TRA), affirmed their commitment to strengthening regulations and practices related to AML / CFT.