CBJ launches Cloud Computing Guidelines, Microsoft hopes to assist financial sector transition

AMMAN — The Central Bank of Jordan (CBJ) on Monday issued the “Cloud Computing Guidelines” in an effort to regulate the digitisation and cloud transition processes for companies in the financial sector.

The announcement was made during an event hosted by Microsoft on the financial services industry in Jordan, aimed at raising awareness of the company’s cloud solutions.

According to an official statement sent to The Jordan Times, the guidelines will provide recommendations on cloud computing solutions, outsourcing related operations and data security.

The statement added that all segments of the sector can benefit from the guidebook, including Islamic and commercial banks, financial institutions, exchange companies, credit information companies and microfinance institutions.

“Microsoft is one of the main enablers and partners that support [the] Central Bank of Jordan and the financial community of Jordan in achieving our strategic goals and objectives whether in digital transformation, cybersecurity or governance”, CBJ Deputy Governor Maher Sheikh Hasan said.

On behalf of the international tech-giant, Microsoft Country Manager for Jordan Hussein Malhas said that his company offers solutions that are customised to meet the specific requirements of the sector in Jordan.

“Microsoft is excited about what these guidelines mean for financial institutions within Jordan. Our solutions that are tailored specifically for the financial services industry are compliant with the guidelines,” he said.

The core of the solutions provided by Microsoft, according to Malhas, is to enable regulatory compliance.

Microsoft, by means of contractual commitments, including the industry-specific financial services contract amendment, should be able to assist entities impacted by the guidelines to meet the CBJ’s compliance requirements, the statement said.