The Central Bank of Jordan was established by law in 1959 and began operations on October 1, 1964, succeeding the Jordan Currency Board, which had been created in 1950. Headquartered in Amman, its founding law charges it with maintaining monetary stability in the Kingdom, ensuring the convertibility of the Jordanian dinar, and promoting sustained economic growth, carrying out these aims by issuing currency, managing gold and foreign exchange reserves, acting as banker to the government and other financial institutions, supervising the banking system, and regulating credit.
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