The PFMIs

The Principles for Financial Market Infrastructures (PFMIs), issued by the Committee on Payments and Market Infrastructures (CPMI) of the Bank for International Settlements and the International Organization of Securities Commissions (IOSCO), represent the international standards for systemically important financial market infrastructures, such as payment systems, central securities depositories, and central counterparties. When effectively applied, these principles help ensure that financial market infrastructures, including payment systems, are robust, resilient, and capable of withstanding financial shocks.

As the official operator of the payment systems in Jordan, Jordan Payments and Clearing Company (JoPACC) is required to maintain alignment with international best practices and standards, including the CPMI-IOSCO PFMIs. JoPACC conducts a self-assessment of the PFMI principles every three years to evaluate its level of compliance with the relevant principles and to identify areas for continuous improvement.

Read more on JoPACC's self-assessment against the Principles for Financial Market Infrastructures (PFMI).