Central Bank

In: Business and Management

Submitted By nadasiaj
Words 1695
Pages 7
Monetary System of Jordan Report

Student name: Nada Maher Siaj
Student ID: 201110288
Faculty of economics and administrative sciences
Department: Finance
Academic supervisor: Dr. Abdlsalam Alhamad

To begin with, Dr. Adel Sharkas claimed and addressed his case and point of view of the central bank of Jordan and its achievements and accomplishment. He also spoke about his personal life and how he became the person he is now. As an audience member, I was significantly inspired and ideas of what I can do to grow as a person flood into my thoughts.
Moreover, Jordan set out preparations to establish the Central Bank of Jordan (CBJ) in the late 1950s. The Law of the CBJ was enacted in 1959. Thereafter, its operational procedures were commenced on the first day of October 1964. The CBJ succeeded the Jordan Currency Board which had been established in 1950. The capital of the CBJ, which is totally owned by the government, was increased gradually, from one million to 18 million Jordanian Dinars. The CBJ enjoys the status of an independent and autonomous corporate body, although its capital is owned entirely by the government.
The law establishing the CBJ stipulates that "the objectives of the Central Bank shall be to maintain monetary stability in the Kingdom, to ensure the convertibility of the Jordanian Dinar, and to promote the sustained growth of the Kingdom's economy in accordance with the general economic policy of the government."
The most important objective of the central bank is to achieve the stability of the exchange rate is crucial for continuous economic growth; also the control of the inflation rate and the interest rate.
Firstly, the exchange rate is the price for which the currency of a country can be exchanged for another country's currency.
The exchange rate…...

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