Jordan, an Arab nation on the east bank of the Jordan River, is largely known for its ancient monuments, and nature reserves. But beyond its history, and small size, the Middle Eastern nation aims to become a tech and fintech front-runner in the region.
Despite its limited resources compared to neighbouring countries, Jordan boasts a diversified economy. Trade and finance account for nearly a third of its gross domestic product (GDP), while transportation, communications, public utilities, and construction represent one-fifth. Mining and manufacturing also contribute significantly.
Capital and financial hub
Amman
Key economic development strategies
Jordan 2025
Financial Technology & Innovation Vision
Economic, financial services and fintech overview
Jordan’s tech scene has experienced remarkable growth, with startup funding increasing by nearly 500 per cent in 2021 compared to the previous year. Despite its small size, Jordan has a vibrant entrepreneurial ecosystem.
Around 27 per cent of tech entrepreneurs in the Middle East and North Africa (MENA) region are Jordanian, despite the country making up only three per cent of the region’s population. However, many Jordanian entrepreneurs leave the country for better opportunities elsewhere.
Jordanian startups have secured a total of $246million through 220 deals between 2018 and 2022, placing the country fourth in VC funding and rounds in MENA, behind only the UAE, Saudi Arabia, and Egypt. Notably, Jordan accounts for 23 per cent of total MENA technology entrepreneurs.
A significant percentage of Jordanians live abroad, estimated to be around 10 per cent, and remittances play a substantial role in the country’s GDP. Additionally, Jordan hosts millions of refugees, but only 12 per cent were estimated to have a bank account or mobile wallet in 2022. Overall, 43 per cent of adult Jordanians were estimated to have access to banking services or mobile wallets, with over 60 per cent having insurance.
In 2018, the Central Bank of Jordan launched one of the first regulatory sandboxes in the MENA region to foster innovation.
Notable fintech companies in Jordan include MadfooatCom, specialising in real-time payment processing solutions; Liwwa, the first peer-to-peer lending platform in the MENA region; as well as MEPS, a regional payment service provider catering to financial institutions, retailers, and corporations. These fintech ventures showcase Jordan’s growing prominence in the tech and innovation space in the MENA region.
Sector breakdown
Key organisations
- Central Bank of Jordan – The Kingdom’s central bank
- Ministry of Digital Economy and Entrepreneurship – The body responsible for setting policies and legislation to regulate the information technology, communications and postal sector
- Jordan Investment Commission – National investment promotional agency of the Kingdom
Key fintech highlights timeline
Key statistics in Jordan
