Regulatory Alerts2018-03-28
Added · Updated
Guidelines on the Use of Cloud Computing Technology
The Central Bank of Jordan issues guidelines regulating the use of cloud computing technology by banks, financial institutions, exchange companies, microfinance companies, and credit information companies. The document mandates specific governance structures, requiring the Board to adopt cloud policies and Senior Executive Management to oversee risk assessments, provider due diligence, and performance monitoring. It establishes detailed obligations for data security, access management, business continuity, and exit plans, while explicitly classifying cloud services as outsourcing operations subject to existing Central Bank circulars.
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