Jordan Profile | Citibank
Fintech is transforming the banking and finance sector in Jordan. Citibank assistant vice president and legal counsel AI Shurbaji explains the important role in-house counsel are playing behind the scenes to facilitate this change.
I believe that being an in-house legal counsel here in Jordan and working within the banking and finance sector requires a good understanding of financial technology and electronic banking. Despite its issues, the use of technology within the industry is growing, so it is essential for in-house lawyers working in this field to have a good background in, and a sound understanding of, laws surrounding new technological innovations.
There are a lot of new laws and regulations in Jordan that support the financial industry. But a challenge is that a lot of the people living in Jordan are still not used to the concept of electronic banking. They still need time to understand how it works. For example, the majority of Jordanians still need time to understand how to pay their bills online – many of them still feel like they need to physically go to the bank to pay their bills. This makes the development of financial products here in Jordan particularly challenging.
