TECHNICAL PROTECTION FOR ELECTRONIC BANKING OPERATIONS IN JORDAN
TECHNICAL PROTECTION FOR ELECTRONIC BANKING OPERATIONS IN JORDAN

Summary/Abstract: The Internet has played a major role in our daily financial business; in fact, a secure end-to-end transaction requires a secure protocol as these software-based solutions include the use of encryption algorithms, private and public keys, and digital signatures used by MasterCard and Pretty Good Privacy. What are the characteristics or qualities of technical protection that achieve cyber security and leadership in regulating electronic banking operations in terms of legal legislation? This article aims to draw the attention of lawmakers to develop legal legislation on an ongoing basis to ensure the safety and stability of the accelerated electronic financial system. On the other hand, any tightening in the regulation of electronic banking services may be counterproductive because such solutions will quickly become obsolete due to the rapid pace of technological change. The legal system of electronic banks in Jordan is based on the Electronic Transactions Law, where the Central Bank of Jordan issues legal instructions regulating electronic business and instructions for cyber adaptation in electronic payment companies. This law includes the conditions for the Central Bank's approval of granting licenses to these companies, monitoring their compliance with them, and technical protection for customers.

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