Optimiza has entered into a new strategic partnership with the Central Bank of Jordan (CBJ) to implement the second phase of the CBJ’s offsite supervision system (CBJ-OSS).

The system is aimed at upgrading and automating the supervision and communication procedures between CBJ and all licensed banks in Jordan.

Under an agreement with the USAID-funded SABEQ project, Optimiza was chosen to design a new online system for uploading electronic files and provide CBJ with a guidance document on the use of a system to create a uniform method of communication within a secure network connecting the different departments on one hand and the central bank with licensed local banks on the other.

Compliance with this format will be compulsory for the 23 licensed banks in Jordan. The CBJ will provide the banks with the required electronic file format to ensure compliance with the new system before the grace period elapses in order to avoid the automatic rejection of their files and any consequent penalties.

Optimiza chief technology officer Kamal Hazboun expressed his pride with this partnership, which exemplifies the collaboration between the private and public sectors, and said: “Our partnership with a major national institution like the CBJ is an added value to our achievements. This partnership affirms our insight to provide official establishments with advanced technology solutions, and reflects our commitment to support CBJ's outstanding work.

"We thank CBJ for their trust in our services and systems; and we are confident that together we will achieve success and progress to serve Jordan's banking sector."

CBJ-OSS project's manager Zaid Tarawneh said: "This project falls in line with CBJ’s vision and strategy to upgrade its banking supervision system, increase security measures and stay abreast of international developments in the field."

Optimiza won the bid to implement the first phase of the CBJ-OSS project in last July. New systems and features were introduced to the Bank's supervision systems, followed by an identification of additional developmental needs related to the automation at CBJ.  To achieve these requirements, the CBJ drew up the plan for stage 2 of the project in co-operation with an expert team from Optimiza. - TradeArabia News Service