Low #financial literacy and a persistent #cash culture are among the pain points an #rCBDC would not address.

On the other hand, a cross-#border #rCBDC could add value, particularly if the authorities coordinate with other #countries in the region.

#RCBDC may offer some benefits, but it does not necessarily address pain #points.

“#Sound legal underpinnings for an #rCBDC should also be created,” the report said.

The Jordanian #financial sector has good information security #governance and management practices, the #IMF found, but an #rCBDC could increase #cybersecurity risks as an attractive target.

An #rCBDC could also improve the domestic #payment system by making its infrastructure available to #PSPs and lowering the cost of cross-border #transfers.

Nonetheless, an #rCBDC would enhance #financial inclusion by providing services to #residents without #smartphones.

The Central #Bank of #Jordan is closer to its next step toward a retail central bank digital currency (#rCBDC) with the completion of an International #Monetary Fund technical report on the country’s #markets.