Minister of Digital Economy and Entrepreneurship, Ahmed Hanandeh, emphasized that digital transformation, innovation, and creativity are no longer optional but a pressing requirement to align with global technological advancements.
Speaking at the opening of the Middle East Financial Technology Summit, held under the banner “The New Order for Fintech, Digital Payments & Banking in a Digital Society” on Wednesday, Hanandeh noted that Jordan has reached significant milestones in the digital economy, particularly in digital infrastructure.
“Rapid growth in digital technology, coupled with advancements in smart devices, systems, data processing, and artificial intelligence, has triggered revolutionary changes in global economies,” Hanandeh explained.
He highlighted that many vital sectors, including finance, agriculture, industrial, healthcare, and security services, are increasingly leveraging these digital technologies and artificial intelligence.
The Minister revealed that the government is committed to matching these developments and making the most of the best global practices and opportunities available, with the aim of transitioning into an exemplary digital government.
Jordan’s communications and information technology sector, he stated, is a foundational pillar of the country’s economy. “The government offers many of its services digitally, through smart applications and one-stop services, to ensure an effortless user experience for beneficiaries,” Hanandeh elaborated.
The National Strategy for Digital Transformation and the 2021-2025 Implementation Plan offers a strategic framework for Jordan’s digital transition, focusing on the payments sector in collaboration with strategic partners such as the Central Bank and Jordanian banks, aiming to achieve electronic payments transfer.
“The strategy elucidates necessary changes and requirements to align with global digital transformation progress, improve delivery of government services, and enhance government performance efficiency,” Hanandeh said.
He added that the strategy embodies the government’s vision to stimulate further digital transformation and digital economy development, based on several measures and key enablers.
Hanandeh said that Digital transformation aids in harnessing advanced technologies to shape the future of banks and digital financial services globally, encompassing artificial intelligence, mobile payments, blockchain technology, sustainability, and financial inclusion, and the new generation of digital payments.
The ministry, he affirmed, is working diligently to expedite digital transformation by automating government services, digitizing payments, and developing multiple policies to promote digital transformation.
Ayman Al-Rasheed, Chairman of the Conference Organizing Committee and CEO of Moments Innovation, noted that the conference, now in its fifth iteration, is a major event in financial technology, digital payments, and banking innovation, and gathers globally influential thought leaders in technology and finance.
Al-Rasheed noted that the technology sector continues to progress and plays a crucial role in digital transformation. “Moments Innovation company has taken it upon itself to explore the latest financial developments and their impacts on global economies,” he added.
The conference will host over 400 experts and speakers, including high-level executives from financial digital technology, banks, and international, regional, and local companies, to discuss the latest global trends in the financial technology industry and innovation’s role in bolstering the reputation and profitability of financial institutions.
The topics of discussion will include the rising demand for digital banking services, digital banks, crowdfunding, artificial intelligence, payment innovations, the emerging role of open banking services, and the growth of innovation in digital payments for small- and medium-sized enterprises.
Source: https://www.fananews.com/en/mideast-fintech-summit-opens-in-amman/