Khaberni - Under the patronage of the Governor of the Central Bank of Jordan, Dr. Adel Sharkas, the Central Bank of Jordan announced the joining of four pioneering companies to the regulatory sandbox environment (JoRegBox), as part of its ongoing efforts to enhance financial innovation and develop the financial technology ecosystem in the Hashemite Kingdom of Jordan, which allows companies to test their innovative solutions within a flexible and safe regulatory environment, in preparation for their launch in the local market according to the best practices and regulatory standards.
In this context, Bab Al-Rizq Software Development Company, one of the pioneering companies, participated through a presentation given by the founding partner Fayez Abu Awad and achieved notable attendance, where the company showcased its digital platform (Tameenak) as an integrated solution in the field of Insurance Technology (InsurTech), aimed at enabling users to compare various insurance offers and manage, purchase, and administer insurance policies electronically, including vehicle, health, and property insurance, contributing to enhancing the efficiency of insurance services, promoting financial inclusion, and supporting the digital transformation journey in the sector.
Abu Awad affirmed that the joining of Bab Al-Rizq Software Development Company to the regulatory sandbox constitutes a strategic step towards developing innovative solutions that meet market needs, and enhancing the level of transparency and ease of access to financial services, in line with national directions to support the digital economy and stimulate the business environment.
Bab Al-Rizq Software Development Company extends its profound thanks and great appreciation to the Central Bank of Jordan and all its departments and concerned teams for their outstanding institutional efforts in managing the regulatory sandbox, and for the technical and regulatory support they provide, which contributes to enabling innovation and enhancing partnership with the private sector, serving the development of the financial sector and cementing economic stability and growth in the Kingdom.
