Khaberni - The Central Bank of Jordan announced the issuance of a sectoral roadmap for transitioning to quantum-resistant cryptography for the financial and banking sectors, in a pioneering strategic step aimed at enhancing future readiness in light of accelerating developments in the world of technology and its accompanying cyber and operational risks. This step is part of efforts to enhance Jordan's position as a safe and trusted financial center in the region and to ensure the continuity and security of the financial sector in facing future challenges.
The roadmap is part of the Central Bank of Jordan's efforts to provide a secure and stable digital financial environment, through enabling financial institutions to systematically prepare for quantum computing risks and their potential impacts on currently used encryption systems. The roadmap aims to support the sector in building technical and regulatory readiness, and to adopt a phased and thoughtful approach to transitioning to quantum-resistant encryption solutions, which align with best international practices and recommendations of relevant reference bodies.
The roadmap focuses on setting a clear and systematic path for the gradual transition towards a technical environment capable of facing quantum computing risks, by integrating quantum computing risks within the enterprise risk register, improving governance, and building institutional capacities to support this long-term transition. It also includes cataloging cryptographic assets, prioritizing transition based on a risk assessment methodology, and ensuring effective change management that maintains business continuity and services, in addition to conducting trial tests for quantum-resistant cryptographic solutions in virtual and non-operational environments, culminating in the full transition of quantum-resistant cryptographic systems within a clear and specified timeframe.
The Central Bank of Jordan highlighted the importance of coordination and integration among all relevant entities, including financial institutions, suppliers, and technical partners, and affirmed that this initiative reflects its proactive commitment to enhancing the readiness of the financial and banking sectors to face future challenges and transitioning the financial and banking sector to an environment resistant to quantum computing risks in particular, aligning with internationally adopted best practices in cybersecurity and enhancing trust in the Jordanian financial sector and maintaining its stability and competitiveness in the long term.
