The Interledger Foundation is a US-based nonprofit corporation and standards organization established in 2019.
143-579: Its mission is to foster global digital financial inclusion and equitable access to the digital economy through the development and promotion of the Interledger Protocol, a payment interchange standard. Stefan Thomas and Evan Schwartz published a whitepaper in October 2015 titled “A Protocol for Interledger Payments” while working at Ripple Labs . The document described a communication protocol to enable interoperable payments by acting as
286-577: A 363 earthquake destroyed many structures it declined further, eventually being abandoned. The Sasanian Empire in the east became the Byzantines' rivals, and frequent confrontations sometimes led to the Sasanids controlling some parts of the region, including Transjordan. In 629, during the Battle of Mu'tah in what is today Karak Governorate , the Byzantines and their Arab Christian clients ,
429-479: A Mediterranean climate , while the eastern and northeastern areas of the country are arid desert. Although the deserts reach high temperatures, the heat is usually moderated by low humidity and a daytime breeze, while the nights are cool. Summers, lasting from May to September, are hot and dry, with temperatures averaging around 32 °C (90 °F) and sometimes exceeding 40 °C (104 °F) between July and August. The winter, lasting from November to March,
572-669: A 26 kilometres (16 mi) shoreline on the Gulf of Aqaba in the Red Sea but is otherwise landlocked. The Yarmuk River , an eastern tributary of the Jordan, forms part of the boundary between Jordan and Syria (including the Israeli-occupied Golan Heights ) to the north. The other boundaries are formed by several international and local agreements and do not follow well-defined natural features. The highest point
715-668: A British protectorate. In 1946, the country gained independence and became officially known as the Hashemite Kingdom of Jordan. The country captured and annexed the West Bank during the 1948 Arab–Israeli War until it was occupied by Israel in 1967 . Jordan renounced its claim to the territory to the Palestinians in 1988 and signed a peace treaty with Israel in 1994. Jordan is a semi-arid country, covering an area of 89,342 km (34,495 sq mi) with
858-640: A checking or savings account with an insured FDIC institution. The remaining unbanked population represents a small percentage, about 7 million people, but most of them represent poor and minority communities(Association, 2021). According to the American Banker Association's 2021 Bank Access Report, some of the reasons unbanked individuals have named for not wanting an account include lack of trust in banks, not having enough money to keep accounts open, or feeling bank fees are high. In an effort to promote financial inclusion and address
1001-520: A cost barrier to banking. Banks are also meant to charge minimal overdraft fees on NFAs. The RBI continues to change and relax policies regarding these accounts in an effort to better serve bank customers. Know-your-customer (KYC) requirements for opening bank accounts were relaxed for small accounts in August 2005, eliminating a documentation barrier to banking. The new procedure only requires an introduction by an account holder who has been subjected to
1144-552: A fairly limited number of entities, including NGO's and certain microfinance institutions were eligible to act as BCs, however in 2010 the list was expanded to include for-profit companies In 2018, operators of Common Service Centers (CSCs) who work with local governing gram panchayats also began working as BCs to further improve penetration of banking services. Expansion financial technology , or fintech, has been proposed as an effective strategy to achieve financial inclusion. While incorporation of technology does pose some risks, it
1287-495: A financial account, but with the advent of digital financial services that number has increased to 60%. The current situation in Tanzania has improved steadily over the past 12 years with the introduction of mobile money by Tanzania's main telecom providers. The quick expansion of financial inclusion in Tanzania is almost entirely due to the proliferation of mobile banking options. While a recent cooling effect has taken place due to
1430-550: A formal financial institution. The lack of enough money was cited as the main reason for not having a bank account. While there has been significant progress, much more must be done. As an emerging country with a sizeable number of people living in poverty, access to financial services is an important challenge. Based on a March 18, 2016, report from the Philippine Statistics Authority , the country's 2015 poverty incidence (the proportion of people below
1573-545: A government crackdown on counterfeit SIM cards, over half of Tanzania's population has access a degree of financial services through mobile banking. The United States began to adopt MFI ( Microfinance ) ideals in the late 1980s and early 1990s. Compared to other countries, the United States was late to implement these changes, but nevertheless, once active the US had the experience of other countries to draw upon. According to
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#17327836732271716-500: A high Human Development Index , ranking 99th, and is considered a lower middle income economy. The Jordanian economy , one of the smallest economies in the region, is attractive to foreign investors based upon a skilled workforce. The country is a major tourist destination, also attracting medical tourism with its well-developed health sector . Nonetheless, a lack of natural resources, large flow of refugees, and regional turmoil have hampered economic growth. Jordan takes its name from
1859-711: A level of autonomy by forming the Decapolis , a ten-city league. Jerash is one of the best preserved Roman cities in the East; it was even visited by Emperor Hadrian during his journey to Palestine. In 324 AD, the Roman Empire split and the Eastern Roman Empire, later known as the Byzantine Empire , continued to control or influence the region until 636. Christianity had become legal within
2002-522: A majority vote of no confidence by the elected House of Representatives. After a bill is proposed by the government, it must be approved by the House of Representatives then the Senate and becomes law after being ratified by the king. A royal veto on legislation can be overridden by a two-thirds vote in a joint session of both houses. The parliament also has the right of interpellation . The 65 members of
2145-541: A national army; and that free trade be maintained between Transjordan and the rest of the region. Abdullah, the second son of Sharif Hussein, arrived from Hejaz by train in Ma'an in southern Transjordan on 21 November 1920 to redeem the Greater Syrian Kingdom his brother had lost. Transjordan then was in disarray, widely considered to be ungovernable with its dysfunctional local governments. Abdullah gained
2288-456: A number of times since, is the legal framework that governs the monarch, government, bicameral legislature and judiciary. The king retains wide executive and legislative powers from the government and parliament . The king exercises his powers through the government that he appoints for a four-year term, which is responsible before the parliament that is made up of two chambers: the Senate and
2431-631: A period of relative prosperity in the 16th century but were later abandoned. Transjordan was of marginal importance to the Ottoman authorities. As a result, Ottoman presence was virtually absent and reduced to annual tax collection visits. More Arab Bedouin tribes moved into Transjordan from Syria and the Hejaz during the first three centuries of Ottoman rule, including the Adwan , the Bani Sakhr and
2574-672: A population of 11.5 million, making it the eleventh-most populous Arab country . The dominant majority, or around 95% of the country's population, is Sunni Muslim , with the rest being mostly Arab Christian . Jordan was mostly unscathed by the violence that swept the region following the Arab Spring in 2010. From as early as 1948, Jordan has accepted refugees from multiple neighbouring countries in conflict. An estimated 2.1 million Palestinian refugees , most of whom hold Jordanian citizenship, as well as 1.4 million Syrian refugees , were residing in Jordan as of 2015. The kingdom
2717-451: A priority for many countries across the globe. In 2021, about 1.4 billion adults lacked a bank account. Among the unbanked, a significant number are women and poor people in rural areas. Often, those excluded from financial institutions face discrimination or belong to vulnerable or marginalized populations. Due to the lack of financial infrastructure and financial services many under-served and low-income communities suffer. Specifically,
2860-601: A reminder of the necessity of appropriate regulatory and educational frameworks and it remains a challenge to separate microcredit from the large and complex field of financial inclusion. A report by Dvara Research also points to the exclusion in the Direct Benefit Transfer scheme of the Government. [1] Archived 2022-07-18 at the Wayback Machine A broad understanding of Sub-Saharan Africa
3003-544: A renewed commitment by many organizations to address racial division in the United States. Many financial institutions like Ally, JP Morgan Chase, Bank of America and Citi provided statements about financial inclusion and racial equity that detailed efforts to drive change. During the COVID-19 pandemic, digital financial exclusion has become more prominent in the US as some businesses no longer accept cash for purchases. Indonesia's national strategy for financial inclusion
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#17327836732273146-428: A result, consumers quickly became over-indebted to the point of committing suicide and lending institutions saw repayment rates collapse after politicians in one of the country's largest states called on borrowers to stop paying back their loans. The crisis threatened the existence of the $ 4 billion Indian microcredit industry, has been compared to the subprime mortgage crisis in the United States. The crisis serves as
3289-505: A tactic to "accelerate development" and to address poverty and unemployment. The Lead Bank Scheme followed nationalization as a way to coordinate banks and credit institutions by districts to more comprehensively ensure that rural areas had their credit needs met. In 1975, the Government of India followed this with efforts to specifically reach rural areas by establishing Regional Rural Banks (RRBs) meant to exclusively meet demand in
3432-745: A universal translator among different financial networks. The Interledger Protocol was modeled after the Transmission Control Protocol/Internet Protocol (TCP/IP) , the foundational technology behind the Internet’s ability to transmit data across diverse networks. In 2015, the World Wide Web Consortium (W3C) hosted the Interledger Payments Community Group. Members included representatives from Ripple Labs,
3575-537: A variety of channels by leveraging on IT. However, illiteracy, low-income savings, and lack of bank branches in rural areas remain a roadblock to financial inclusion in many states, and there is inadequate legal and financial structure. In India, RBI initiated several measures to achieve greater financial inclusion. These rely on the efforts of the financial sector. These initiatives include no frills accounts (NFAs), now known as basic savings bank deposit accounts (BSBDAs) can be opened with zero or minimal balances, removing
3718-558: Is Jabal Umm al Dami , at 1,854 m (6,083 ft) above sea level, while the lowest is the Dead Sea −420 m (−1,378 ft), the lowest land point on Earth . Jordan has a diverse range of habitats, ecosystems and biota because of its varied landscapes and environments. The Royal Society for the Conservation of Nature was set up in 1966 to protect and manage Jordan's natural resources. Nature reserves in Jordan include
3861-614: Is accessible only after a payment is made, but remained largely unused due to the global fragmentation in digital payment methods. On 6 July 2016, the first payment using the Interledger Protocol was transmitted between two different ledgers , the Bitcoin ledger on Bitstamp and the XRP ledger on GateHub. In July 2017, the Bank of England carried out a successful test of the Interledger Protocol. This test transaction synchronized payments between
4004-575: Is also a refuge for thousands of Christian Iraqis fleeing persecution. While Jordan continues to accept refugees, the large Syrian influx during the 2010s has placed substantial strain on national resources and infrastructure. The sovereign state is a constitutional monarchy , but the king holds wide executive and legislative powers. Jordan is a founding member of the Arab League and the Organisation of Islamic Cooperation . The country has
4147-738: Is an important component of Xi Jinping 's concept of the Chinese Dream . In 2015, the China Academy of Financial Inclusion was established at Renmin University . The Academy is a government think tank tasked with developing financial inclusion mechanisms for China. Jordan Jordan , officially the Hashemite Kingdom of Jordan , is a country in the Southern Levant region of West Asia . Jordan
4290-518: Is being used to deliver banking services to those in rural and remote areas who are typically unserved. The United Nation 2030 Agenda for Sustainable Development (UN-2030-ASD) and the G20 High-Level Principles for Digital Financial Inclusion (G20-HLP-DFI) describes the importance of using Fintech to reduce financial exclusion and income inequality which means that the financial inclusion through Fintech may shows significant signs on
4433-426: Is bordered by Saudi Arabia to the south and the east, Iraq to the north-east , Syria to the north , and Israel and Palestine ( West Bank ) to the west. The east is an arid plateau irrigated by oases and seasonal streams. Major cities are overwhelmingly located on the north-western part of the kingdom with its fertile soils and relatively abundant rainfall. These include Irbid , Jerash and Zarqa in
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4576-485: Is bordered by Syria to the north, Iraq to the east, Saudi Arabia to the south, and Israel and the occupied Palestinian territories to the west. The Jordan River , flowing into the Dead Sea , is located along the country's western border. Jordan has a small coastline along the Red Sea in its southwest, separated by the Gulf of Aqaba from Egypt . Amman is the country's capital and largest city , as well as
4719-511: Is classified at the bottom of the economy an easy access to credit once the service is available to the public. Marlo R. Cruz , president and chief executive officer of CIBI Information, Inc. (CIBI) as one of the accredited credit bureaus in the Philippines , highlighted that this is expected to unlock much economic potential in sectors of the economy that are crucial for inclusive growth. As per Cruz, "Many people still do not realize that
4862-575: Is collecting data from 666 districts in India and ranking on a scale from 0 to 100 based on four parameters of financial services. CRISIL publishes semi-frequent reports based on their findings with regional, state-wise, and district-wise assessments of financial inclusion. Some key conclusions from the 2018 report are: Financial inclusion in India is often closely connected to the aggressive micro credit policies that were introduced without appropriate regulations, oversight, or consumer education policies. As
5005-464: Is considered to be a rare event in the country, and Jordan's internal security was dramatically improved afterwards. No major terrorist attacks have occurred since then. Abdullah and Jordan are viewed with contempt by Islamic extremists for the country's peace treaty with Israel, its relationship with the West, and its mostly non-religious laws. The Arab Spring were large-scale protests that erupted in
5148-414: Is meant to provide supplemental employment at a guaranteed minimum wage and facilitate financial inclusion to empower women and rural laborers. While achieving financial inclusion is not its main goal, the program directly deposits wages into bank accounts as a way to limit corruption, speed delivery of benefits, and connect wage laborers to bank accounts. The Pradhan Mantri Jan Dhan Yojana policy scheme
5291-566: Is one platform that produces data driven reports to track progress towards financial inclusion across the globe. According to Dr Tapan Kumar Pradhan none of the currently used indices in India measure financial inclusion as per globally accepted operational definitions of the concept. In 2013, Finance Minister of India, P. Chidambaram launched the CRISIL Inclusix, an index to measure the status of financial inclusion in India. CRISIL , India's leading credit rating and research company
5434-463: Is relatively cool, with temperatures averaging around 11.08 °C (52 °F). Winter also sees frequent showers and occasional snowfall in some western elevated areas. Over 2,000 plant species have been recorded. Many of the flowering plants bloom in the spring after the winter rains and the type of vegetation depends largely on the levels of precipitation. The mountainous regions in the northwest are clothed in forests, while further south and east
5577-615: Is savings, credit or insurance. The great challenge is to address the constraints that exclude people from full participation in the financial sector. Together, we can build inclusive financial sectors that help people improve their lives." In 2009, former United Nations Secretary-General Ban Ki-moon appointed Queen Máxima of the Netherlands as the United Nations Secretary-General's Special Advocate for Inclusive Finance for Development (UNSGSA), housed in
5720-409: Is the availability and equality of opportunities to access financial services . It refers to processes by which individuals and businesses can access appropriate, affordable, and timely financial products and services - which include banking , loan , equity , and insurance products. It provides paths to enhance inclusiveness in economic growth by enabling the unbanked population to access
5863-492: Is well explained by Balele (2019), the analysis of 25 countries. With a population of 55.57 million people and only 19% of its population enrolled into an account with a formal bank, Tanzania remains largely unbanked. Poverty alleviation is often linked with a given population's access to formal banking instruments, and mobile money can serve as a crucial bridge for offering savings, credit, and insurance to Tanzania's rural population. In 2006 just 11% of Tanzanians had access to
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6006-585: The 1948 Arab–Israeli War , Jordan intervened in Palestine together with many other Arab states. Following the war, Jordan controlled the West Bank , and on 24 April 1950 Jordan formally annexed these territories after the Jericho Conference . In response, some Arab countries demanded Jordan's expulsion from the Arab League . On 12 June 1950, the Arab League declared that the annexation
6149-624: The Arab Federation as a response to the formation of the rival United Arab Republic between Nasser's Egypt and Syria. The union lasted only six months, being dissolved after Iraqi King Faisal II (Hussein's cousin) was deposed by a bloody military coup on 14 July 1958 . Jordan signed a military pact with Egypt just before Israel launched a preemptive strike on Egypt to begin the Six-Day War in June 1967, where Jordan and Syria joined
6292-451: The Arab world in 2011, demanding economic and political reforms. Many of these protests tore down regimes in some Arab nations, leading to instability that ended with violent civil wars. In response to domestic unrest , Abdullah replaced his prime minister and introduced reforms including reforming the constitution and laws governing public freedoms and elections. Proportional representation
6435-694: The Battle of Hattin (1187) near Lake Tiberias just north of Transjordan, the Crusaders lost to Saladin , the founder of the Ayyubid dynasty (1187–1260). The Ayyubids built the Ajloun Castle and rebuilt older castles to be used as military outposts against the Crusaders. Villages in Transjordan under the Ayyubids became important stops for Muslim pilgrims going to Mecca who travelled along
6578-852: The Board of Governors of the Federal Reserve System , the expansion opened a new avenue to disadvantaged communities, primarily African Americans to "expand economic opportunities and to foster community economic development ". This action is tailored to the needs of low- to moderate-income entrepreneurs. One criticism of MFI in the US is that its services didn't extend outside of providing credit, where other MFI programs overseas "extended their offerings to deliver education, training, and other relevant services". To address this gap, MFI non-profit organizations emerged, many focused on specific minority populations, such as African Americans, who are excluded from mainstream credit. Racial inequality in
6721-543: The Bronze Age (3600–1200 BC). Wadi Feynan became a regional centre for copper extraction: the metal was exploited on a large scale to produce bronze. Trade and movement of people in the Middle East peaked, spreading cultural innovations and whole civilizations to spread. Villages in Transjordan expanded rapidly in areas with reliable water-resources and arable land. Ancient Egyptian populations expanded towards
6864-893: The Dana Biosphere Reserve , the Azraq Wetland Reserve , the Shaumari Wildlife Reserve and the Mujib Nature Reserve . The climate varies greatly; generally, the further inland from the Mediterranean, there are greater contrasts in temperature and less rainfall. The average elevation is 812 m (2,664 ft) above sea level. The highlands above the Jordan Valley, mountains of the Dead Sea and Wadi Araba and as far south as Ras Al-Naqab are dominated by
7007-679: The Ghassanids , staved off an attack by a Muslim Rashidun force that marched northwards towards the Levant from the Hejaz. The Byzantines however were defeated by the Muslims in 636 at the decisive Battle of the Yarmuk just north of Transjordan. Transjordan was an essential territory for the conquest of Damascus. The Rashidun caliphate was followed by that of the Umayyads (661–750). Under
7150-505: The Hejaz desert, up to as far north as Damascus , which it controlled for a short period (85–71 BC). The Nabataeans massed a fortune from their control of the trade routes, often drawing the envy of their neighbours. Petra, Nabataea's capital, flourished in the 1st century AD, driven by its extensive water irrigation systems and agriculture. The Nabataeans were talented stone carvers , building their most elaborate structure, Al-Khazneh , in
7293-639: The Hejaz Railway in 1908—stretching across the length of Transjordan and linking Damascus with Medina —helped the population economically, as Transjordan became a stopover for pilgrims. Increasing policies of Turkification and centralization adopted by the Ottoman Empire in the wake of the 1908 Young Turk Revolution disenchanted the Arabs of the Levant, which contributed to the development of an Arab nationalist movement. These changes led to
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#17327836732277436-560: The House of Representatives . The judiciary is independent according to the constitution but in practice often lacks independence. The king is the head of state and commander-in-chief of the Armed Forces . He can declare war and peace, ratify laws and treaties, convene and close legislative sessions, call and postpone elections, dismiss the government, and dissolve the parliament. The appointed government can also be dismissed through
7579-558: The Howeitat . These tribes laid claims to different parts of the region, and with the absence of a meaningful Ottoman authority, Transjordan slid into a state of anarchy that continued until the 19th century. This led to a short-lived occupation by the Wahhabi forces (1803–1812), an ultra-orthodox Islamic movement that emerged in Najd (in modern-day Saudi Arabia). Ibrahim Pasha , son of
7722-518: The Jordan River , which forms much of the country's northwestern border. While several theories for the origin of the river's name have been proposed, it is most plausible that it derives from the Hebrew word Yarad ( ירד ), meaning "the descender", reflecting the river's declivity. Much of the area that makes up modern Jordan was historically called Transjordan , meaning "across the Jordan";
7865-417: The Late Pleistocene , which resulted in the formation of numerous remains-preserving wetlands in the region. Past lakeshore environments attracted different groups of hominids, and several remains of tools dating from the Late Pleistocene have been found there. Scientists have found the world's oldest known evidence of bread-making at a 14,500-year-old Natufian site in Jordan's northeastern desert. During
8008-413: The Mozilla Foundation announced Grant for the Web, a $ 100 million fund designed to support the development of technologies, content, and ideas utilizing the Interledger Protocol. Initially managed through a governance structure comprising representatives from those three organizations, the fund’s administration transferring to the Interledger Foundation was announced in July 2021. Briana Marbury joined as
8151-406: The National Association of Convenience Stores , the Federal Reserve Bank of Minneapolis , and American Express . The group discussed using Interledger Protocol to solve the compatibility issues between global payment networks that inhibited a standardized approach to implementing payments in a web browser. The HTTP 402 “Payment Required” status code was reserved in 1997 to indicate digital content
8294-453: The Neolithic period (10,000–4,500 BC), there was a transition there from a hunter-gatherer culture to a culture with established populous agricultural villages. 'Ain Ghazal , one such village located at a site in the eastern part of present-day Amman , is one of the largest known prehistoric settlements in the Near East . Dozens of plaster statues of the human form, dating to 7250 BC or earlier, have been uncovered there; they are one of
8437-429: The Rabat summit conference in 1974, in the aftermath of the Yom-Kippur War, Jordan and the rest of the Arab League agreed that the PLO was the "sole legitimate representative of the Palestinian people". Subsequently, Jordan renounced its claims to the West Bank in 1988. At the 1991 Madrid Conference , Jordan agreed to negotiate a peace treaty sponsored by the US and the Soviet Union. The Israel–Jordan peace treaty
8580-416: The World Bank's Global Findex database or the Gates foundation's Financial Inclusion Tracker Surveys are household surveys attempting to measure usage of financial services from the consumer's perspective. Other data sources like the International Monetary Fund's Financial Access Surveys focus more on the firm side, measuring the supply of financial institutions in a country. Still others focus more on
8723-686: The fiscal year and non-profits can apply for additional funding. Bill AB-423 is an example of the state recognizing the lack of financial inclusion of young adults; the bill encourages pupil instruction and financial literacy lessons to begin as early as grade 9 . While not all individuals need or want financial services, financial inclusion aims to remove all barriers, both supply-side and demand-side. Supply-side barriers stem from financial institutions themselves. They often indicate poor financial infrastructure, and include lack of nearby financial institutions, high costs to opening accounts, or documentation requirements. Demand-side barriers refer to aspects of
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#17327836732278866-416: The governor of the Egypt Eyalet , rooted out the Wahhabis under the request of the Ottoman sultan by 1818. In 1833 Pasha turned on the Ottomans and established his rule over the Levant. His policies led to the unsuccessful peasants' revolt in Palestine in 1834. Transjordanian cities of As-Salt and Al-Karak were destroyed by Pasha's forces for harboring a peasants' revolt leader . Egyptian rule
9009-411: The most populous city in the Levant . Modern-day Jordan has been inhabited by humans since the Paleolithic period. Three kingdoms developed in Transjordan during the Iron Age : Ammon , Moab and Edom , which were conquered by the Assyrian and later Babylonian empires. In the third century BC, the Arab Nabataeans established their kingdom centered in Petra . The Greco-Roman period saw
9152-435: The underbanked , particularly in the Global South . Various initiatives, including Mojaloop and the People’s Clearinghouse in Mexico, are being supported to use the Interledger Protocol to facilitate real-time payments in emerging markets across different financial institutions and payment systems. In November 2023, the Interledger Foundation announced a partnership with the Jordan Payments and Clearing House (JoPACC) to lower
9295-399: The white-spectacled bulbul . Four terrestrial ecoregions lie with Jordan's borders: Syrian xeric grasslands and shrublands , Eastern Mediterranean conifer-sclerophyllous-broadleaf forests , Mesopotamian shrub desert , and Red Sea Nubo-Sindian tropical desert and semi-desert . Jordan is a unitary state under a constitutional monarchy . Its constitution , adopted in 1952 and amended
9438-423: The 1950s. The nationalization of banks, which occurred from the mid-1950s to the late 1960s, culminating in 1969 with the nationalization of 14 commercial banks by Prime Minister Indira Gandhi , brought banking facilities to previously unreached areas of the country. The "branching" of banks into rural areas increased lending for agriculture and other unserved rural populations and Indira Gandhi spoke of it as
9581-439: The 2016 election), Christians (9 seats) and Circassians and Chechens (3 seats). Courts are divided into three categories: civil, religious, and special. The civil courts deal with civil and criminal matters, including cases brought against the government. The civil courts include magistrate courts, courts of first instance, courts of appeal, high administrative courts which hear cases relating to administrative matters, and
9724-401: The Arabist cause, offered support. The revolt started on 5 June 1916 from Medina and pushed northwards until the fighting reached Transjordan in the Battle of Aqaba on 6 July 1917. The revolt reached its climax when Faisal entered Damascus in October 1918 and established an Arab-led military administration in OETA East , later declared as the Arab Kingdom of Syria , both of which Transjordan
9867-443: The Bali Fintech Agenda to provide a framework for domestic policy discussions around deepening access to financial services in a variety of different contexts. Unique credit cards are now offered by banks, the most popular being general purpose credit cards (GCCs), and Kisan credit cards. These unique cards offer credit to those in rural and semi-urban areas, farmers, and others with adjusted collateral and security requirements with
10010-443: The British stated their willingness to recognize the independence of a unified Arab state stretching from Aleppo to Aden under the rule of the Hashemites. British High Commissioner Herbert Samuel travelled to Transjordan on 21 August 1920 to meet with As-Salt's residents. He there declared to a crowd of 600 Transjordanian notables that the British government would aid the establishment of local governments in Transjordan, which
10153-405: The Financial Access Surveys) to measure Sustainable Development Goal 8.10. Studies show that none of the current indicators measure financial inclusion as per globally accepted definitions of the concept, including definitions by UN and World Bank . Four million unbanked Filipinos are seen to benefit from the nascent credit scoring industry, a development that is seen to serve the people that
10296-491: The Government of India instituted a sweeping demonetization policy in an attempt to stop corruption and the flow of black money. This move forced people to deposit their money into banks or see its value evaporate, with the goal of integrating citizens into a cashless and taxable economy and banking system. While India has seen new bank accounts continue to open in the wake of this policy change, and an overall increase in use of digital payment systems and other financial services,
10439-542: The Interledger Protocol to provide interoperability between digital financial services and payment platforms. In 2019, Coil Technologies, Inc. and Ripple Labs established the Interledger Foundation to be a vendor-neutral forum for the continued development of the Interledger Protocol. The first Interledger Summit was held in San Francisco in June. In September 2019, Coil, Creative Commons , and
10582-697: The Levant and came to control both banks of the Jordan River. During the Iron Age (1200–332 BC), after the withdrawal of the Egyptians, Transjordan was home to the kingdoms of Ammon , Edom and Moab . These peoples spoke Semitic languages of the Canaanite group ; archaeologists have concluded that their polities were tribal kingdoms rather than states. Ammon was located in the Amman plateau; Moab in
10725-748: The Levant. As had happened during the Roman era, growth of maritime trade diminished Transjordan's central position, and the area became increasingly impoverished. After the decline of the Abbasids, Transjordan was ruled by the Fatimid Caliphate (969–1070), then by the Crusader Kingdom of Jerusalem (1115–1187). The Crusaders constructed several castles as part of the Lordship of Oultrejordain, including Montreal and Al-Karak. During
10868-576: The Levant. In Transjordan and with Ottoman support, Circassians first settled in the long-abandoned vicinity of Amman in 1867 and later in the surrounding villages. The Ottoman authorities' establishment of its administration, conscription and heavy taxation policies led to revolts in the areas it controlled. Transjordan's tribes in particular revolted during the Shoubak (1905) and the Karak revolts (1910), which were brutally suppressed. The construction of
11011-630: The Palestinians had limited involvement against the Israeli forces, the events at Karameh gained wide recognition and acclaim in the Arab world. As a result, there was an upsurge of support for Palestinian paramilitary elements (the fedayeen ) within Jordan from other Arab countries. The fedayeen activities soon became a threat to Jordan's rule of law. In September 1970, the Jordanian army targeted
11154-588: The President of Indonesia, is established to coordinate and synchronize the implementation of the strategy, to determine plans and policies in solving problems and obstacles within the implementation as well as to support governors and regent/mayors in determining regional financial inclusion policies at provincial and district/city levels. In 2019, 76.19% of adult population in Indonesia were said to have accessed financial services. In China, financial inclusion
11297-647: The Roman culture. Some Edomites survived longer – driven by the Nabataeans, they had migrated to southern Judea , which became known as Idumaea ; they were later converted to Judaism by the Hasmoneans . Alexander the Great 's conquest of the Persian Empire in 332 BC introduced Hellenistic culture to the Middle East. After Alexander's death in 323 BC, the empire split among his generals, and in
11440-680: The Umayyad Caliphate, several desert castles were constructed in Transjordan, including: Qasr Al-Mshatta and Qasr Al-Hallabat . The Abbasid Caliphate 's campaign to take over the Umayyad's began in a village in Transjordan known as Humayma . The powerful 749 earthquake is thought to have contributed to the Umayyads' defeat by the Abbasids , who moved the caliphate's capital from Damascus to Baghdad . During Abbasid rule (750–969), several Arab tribes moved northwards and settled in
11583-568: The United Nations Development Programme (UNDP). As the UN Secretary-General's Special Advocate, Queen Máxima is a leading global voice on advancing universal access to and responsible usage of affordable, effective and safe financial services. Since 2011, more than 1.2 billion people have gained access to financial services—and therefore have a better chance to transform their lives. Leading up to
11726-473: The United States reduces the opportunity for African Americans to receive financial support compared to White Americans. This is due to the preexisting conflicts in the US that continue to remain relevant in the modern world. Organizations such as Main Street Launch, an Oakland, California –based microfinance organization centered on empowering African American entrepreneurs, were able to flourish due to
11869-861: The adoption of the Sustainable Development Goals (SDGs) in 2015, the UNSGSA and UN member-state partners worked to ensure financial inclusion's strong presence within the agenda. As a result, financial inclusion is now referenced in seven of the 17 goals as a key enabler for fulfilling the SDGs, and the General Assembly has passed a resolution stressing its importance. Over the last five years financial inclusion has made strong strides forward: 515 million more people gained access to financial services between 2014 and 2017; 50+ countries have adopted financial inclusion plans and strategies;
12012-474: The beginning of the second millennium, a lordship was established in the area under the name of Oultrejordain . The oldest known evidence of hominid habitation in Jordan dates back at least 200,000 years. Jordan is a rich source of Paleolithic human remains (up to 20,000 years old) due to its location within the Levant , where various migrations out of Africa converged, and its more humid climate during
12155-898: The building projects that he initiated in Moab and commemorates his glory and his victory against the Israelites. The stele constitutes one of the most important archeological parallels to accounts recorded in the Bible . At the same time, Israel and the Kingdom of Aram-Damascus competed for control of the Gilead. Around 740–720 BC, Israel and Aram-Damascus were conquered by the Neo-Assyrian Empire . The kingdoms of Ammon, Edom and Moab were subjugated but were allowed to maintain some degree of independence. Then in 627 BC, following after
12298-606: The central bank’s core Real-Time Gross Settlement system with a similar core system used by another central bank. The test demonstrated that the Interledger Protocol could reduce the time it takes to settle a large cross-border payment from four days to “a few seconds” and be used by non- cryptocurrency ledgers. In October 2017, the Bill & Melinda Gates Foundation released the Mojaloop open-source software for financial service providers in developing countries . Mojaloop implemented
12441-425: The constitutional court which was set up in 2012 in order to hear cases regarding the constitutionality of laws. Although Islam is the state religion , the constitution preserves religious and personal freedoms. Religious law only extends to matters of personal status such as divorce and inheritance in religious courts, and is partially based on Islamic sharia law. The special court deals with cases forwarded by
12584-525: The cost of cross-border transactions in Jordan . The Interledger Foundation oversees the software development activity of both technical standards and open-source software development. It supports other software, financial service, education, and cultural projects through grants. Technical standards: Open-source software: As of April 2021, the Interledger Foundation board of directors has six members: Financial inclusion Financial inclusion
12727-653: The disintegration of the Assyrians' empire, Babylonians took control of the area. Although the kingdoms supported the Babylonians against Judah in the 597 BC sack of Jerusalem , they rebelled against Babylon a decade later. The kingdoms were reduced to vassals , a status they retained under the Persian and Hellenic empires. By the beginning of Roman rule around 63 BC, the kingdoms of Ammon, Edom and Moab had lost their distinct identities and were assimilated into
12870-470: The early 2000s, a result of identifying financial exclusion and it is a direct correlation to poverty according to the World Bank. The United Nations defines the goals of financial inclusion as follows: Former United Nations Secretary-General Kofi Annan , on 29 December 2003, said: "The stark reality is that most poor people in the world still lack access to sustainable financial services, whether it
13013-734: The empire in 313 after co-emperors Constantine and Licinius signed an edict of toleration. In 380, the Edict of Thessalonica made Christianity the official state religion. Transjordan prospered during the Byzantine era, and Christian churches were built throughout the region. The Aqaba Church in Ayla was built during this era; it is considered to be the world's first purpose built Christian church . Umm ar-Rasas in southern Amman contains at least 16 Byzantine churches. Meanwhile, Petra's importance declined as sea trade routes emerged, and after
13156-626: The end much of Transjordan was disputed between the Ptolemies based in Egypt and the Seleucids based in Syria. The Nabataeans , nomadic Arabs based south of Edom, managed to establish an independent kingdom in 169 BC by exploiting the struggle between the two Greek powers. The Nabataean Kingdom controlled much of the trade routes of the region, and it stretched south along the Red Sea coast into
13299-692: The establishment of several cities in Transjordan that comprised the Decapolis . Later, the Islamic era began after end of Byzantine rule that set off Islamic empires of the Rashidun , Umayyad , Abbasid , and the Ottoman . Following the 1916 Great Arab Revolt during World War I , former Ottoman Syria was partitioned , leading to the establishment of the Emirate of Transjordan in 1921, which became
13442-408: The exclusion of millions from the formal financial system and urged banks to better align their existing practices with the objective of financial inclusion in both his annual and midterm policy statements. The RBI has continued in its efforts in conjunction with the Government of India to develop banking products, craft new regulations, and advocate for financial inclusion. Since financial inclusion
13585-514: The fedayeen and the resultant fighting led to the expulsion of Palestinian fighters from various PLO groups into Lebanon, in a conflict that became known as Black September . In 1973, Egypt and Syria waged the Yom Kippur War on Israel, and fighting occurred along the 1967 Jordan River cease-fire line. Jordan sent a brigade to Syria to attack Israeli units on Syrian territory but did not engage Israeli forces from Jordanian territory. At
13728-901: The first century AD. It is believed to be the mausoleum of the Arab Nabataean King Aretas IV . Roman legions under Pompey conquered much of the Levant in 63 BC, inaugurating a period of Roman rule that lasted four centuries. In 106 AD, Emperor Trajan annexed Nabataea unopposed and rebuilt the King's Highway which became known as the Via Traiana Nova road. The Romans gave the Greek cities of Transjordan—Philadelphia (Amman), Gerasa (Jerash), Gedara (Umm Quays), Pella (Tabaqat Fahl) and Arbila (Irbid)—and other Hellenistic cities in Palestine and southern Syria,
13871-637: The former crown prince of Jordan, who was placed under house arrest, after having been accused of working to "destabilize" the kingdom. Jordan sits strategically at the crossroads of the continents of Asia, Africa and Europe, in the Levant area of the Fertile Crescent , a cradle of civilization . Its area is 89,341 square kilometres (34,495 sq mi), and it is 400 kilometres (250 mi) long between its northernmost and southernmost points; Umm Qais and Aqaba respectively. The kingdom lies between 29° and 34° N , and 34° and 40° E . It
14014-679: The foundation for Aqaba 's free-trade zone and Jordan's flourishing information and communication technology sector. He also set up five other special economic zones. However, during the following years Jordan's economy experienced hardship as it dealt with the effects of the Great Recession and spillover from the Arab Spring . Al-Qaeda under Abu Musab al-Zarqawi 's leadership launched coordinated explosions in three hotel lobbies in Amman on 9 November 2005, resulting in 60 deaths and 115 injured. The bombings, which targeted civilians, caused widespread outrage among Jordanians. The attack
14157-566: The full KYC screening. Additionally, banks were permitted to accept more easily produced forms of documentation for proof of identity and address. The business correspondents (BC) model was launched in January 2006, when the RBI permitted banks to engage intermediaries in the banking process. This model enables banks to service neglected areas by allowing intermediaries to facilitate transactions and deliver other banking services directly. Originally,
14300-637: The highlands east of the Dead Sea; and Edom in the area around Wadi Araba in the south. The northwestern region of the Transjordan, known then as Gilead , was settled by the Israelites . The three kingdoms continually clashed with the neighbouring Hebrew kingdoms of Israel and Judah , centered west of the Jordan River. One record of this is the Mesha Stele , erected by the Moabite king Mesha in 840 BC; in an inscription on it, he lauds himself for
14443-753: The hopes that simplified authorization would increase branches in underserved areas. Beginning in 2011 the RBI required 25% of new branches opened in a given year be in unbanked rural areas centers to ensure a more even spread of banking facilities. The self-help group (SHG) linkage model has also been proposed to improve financial inclusion by linking community groups to the formal banking sector through government programs, credit cooperatives , NGOs , or other microfinance institutions. Group-based models in which members pool their savings have also been seen as tools for social and economic empowerment, particularly when women are leaders and participants. The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA)
14586-484: The inaugural Executive Director in 2020. Throughout 2020, 2021, and 2022, the Interledger Foundation primarily focused on supporting the development and adoption of the Web Monetization standard. The standard allows websites to receive payments from visitors with digital wallets connected to their web browser. The primary use case is for micropayments, small transactions that could enable new business models on
14729-582: The individual seeking financial services and include poor financial literacy, lack of financial capability, or cultural or religious beliefs (such as suspicion of loan sharks or rejection of usury ) that impact financial decisions. Some experts express skepticism about the effectiveness of financial-inclusion initiatives. Research on microfinance initiatives indicates that wide availability of credit for micro-entrepreneurs can produce informal inter-mediation , an unintended form of entrepreneurship . The term "financial inclusion" has gained importance since
14872-735: The lack of proper information can harm low-income communities and expose them to financial risks . For instance, payday loans target low-income persons who are not adequately informed about interest rates or compound interest . Such people may become trapped and indebted to predatory institutions. The public sector spearheads outreach and education for adults to receive free financial services such as education, tax preparation , and welfare assistance. Non-profit organizations dedicate themselves to serving underprivileged communities through private resources and state funding. Within California, state legislation allows for grants to be disbursed during
15015-405: The major global regulators—the standard-setting bodies (SSBs)—now regularly meet for the purpose of addressing financial inclusion; and, growing research is showing strong links between financial inclusion and major development goals. Several surveys and datasets have worked to measure various aspects of financial inclusion including access and usage of financial services. Some sources, such as
15158-583: The means for savings , investment , and insurance towards improving household income and reducing income inequality Financial-inclusion efforts typically target those who are unbanked or underbanked , and then direct sustainable financial services to them. Providing financial inclusion entails going beyond merely opening a bank account. Banked individuals can be excluded from other financial services. Having more-inclusive financial systems has been linked to stronger and more sustainable economic growth and development, thus achieving financial inclusion has become
15301-591: The northwest are clothed in natural forests of pine , deciduous oak , evergreen oak , pistachio and wild olive . Mammal and reptile species include, the long-eared hedgehog , Nubian ibex , wild boar , fallow deer , Arabian wolf , desert monitor , honey badger , glass snake , caracal , golden jackal and the roe deer , among others. Bird include the hooded crow , Eurasian jay , lappet-faced vulture , barbary falcon , hoopoe , pharaoh eagle-owl , common cuckoo , Tristram's starling , Palestine sunbird , Sinai rosefinch , lesser kestrel , house crow and
15444-507: The northwest, the capital Amman and As-Salt in the central west, and Madaba , Al-Karak and Aqaba in the southwest. Major towns in the east are the oasis towns of Azraq and Ruwaished . In the west, a highland area of arable land and Mediterranean evergreen forestry drops suddenly into the Jordan Rift Valley . The rift valley contains the Jordan River and the Dead Sea , which separates Jordan from Israel. Jordan has
15587-408: The objective of providing hassle-free credit. Electronic benefit transfer (EBT) is being implemented by banks at the advice of the RBI with the goal of reducing dependence on cash, lowering transaction costs, and address corruption. Increasing the number of rural banks remains a priority for the RBI. In 2009, the RBI relaxed previous policies requiring authorization before opening new branches in
15730-531: The oldest large-scale representations of humans ever found. During the Chalcolithic period (4500–3600 BC), several villages emerged in Transjordan including Tulaylet Ghassul in the Jordan Valley ; a series of circular stone enclosures in the eastern basalt desert from the same period have long baffled archaeologists. Fortified towns and urban centres first emerged in the southern Levant early in
15873-607: The outbreak of the 1916 Arab Revolt during World War I , which ended four centuries of stagnation under Ottoman rule. The revolt was led by Sharif Hussein of Mecca, scion of the Hashemite family of the Hejaz, and his sons Abdullah , Faisal and Ali . Locally, the revolt garnered the support of the Transjordanian tribes, including Bedouins, Circassians and Christians . The Allies of World War I , including Britain and France whose imperial interests converged with
16016-413: The past several decades that MFI organizations have been operating within the United States, they have loaned over several billions over dollars (~15 billion) and have had a ~97% repayment rate. At the individual level, banks work to enhance financial inclusion by offering products and services to all communities across America. In 2019, most Americans were banked, with about 94.6% of the population having
16159-408: The peace treaty. On 7 February 1999, Abdullah II ascended the throne upon the death of his father Hussein, who had ruled for nearly 50 years. Abdullah embarked on economic liberalization when he assumed the throne, and his reforms led to an economic boom which continued until 2008. Abdullah II has been credited with increasing foreign investment, improving public-private partnerships and providing
16302-448: The policy change caused an extreme disruption to the financial system and debate continues on its efficacy. Readily available data outlining gaps in access and contextualizing the situation of financial inclusion is necessary for both service providers and policy makers looking to achieve financial inclusion. Several organizations conduct surveys to measure indicators of financial inclusion and collect both supply and demand side data. MIX
16445-420: The poverty line versus the total population) is at 26.3% while the subsistence incidence (the proportion of Filipinos in extreme or subsistence poverty) is at 12.1%. This means that there are around 26 million Filipinos who are still living below the poverty line. The concept of financial inclusion, extending financial services to those who typically lack access, has been a goal for the Government of India since
16588-566: The provisions of the mandate dealing with Jewish settlement. On 11 April 1921 the Emirate of Transjordan was established with Abdullah as emir. In September 1922, the Council of the League of Nations recognized Transjordan as a state under the terms of the Transjordan memorandum . Transjordan remained a British mandate until 1946, but it had been granted a greater level of autonomy than
16731-551: The reduction of inequality. Banks have been advised to make effective use of information and communications technology (ICT), to provide banking services to people directly through the BC model where the accounts can be operated by even illiterate customers by using biometrics, thus ensuring the security of transactions and enhancing confidence in the banking system. In 2018 the World Bank and International Monetary Fund (IMF) launched
16874-537: The region west of the Jordan River. Multiple difficulties emerged upon the assumption of power in the region by the Hashemite leadership. In Transjordan, small local rebellions at Kura in 1921 and 1923 were suppressed by Abdullah's forces with the help of the British. Wahhabis from Najd regained strength and repeatedly raided the southern parts of his territory, seriously threatening the emir's position. The emir
17017-652: The regulatory environment for financial access, such as the GSMA 's Mobile Money Regulatory Index, or the World Bank's, now defunct, Doing Business Report . These data have been used in a range of ways, from donor organizations, such as the Millennium Challenge Corporation incentivizing country governments to do more to improve financial inclusion, to individual countries better understanding where they need to target interventions. The United Nations uses two of these indicators (from Findex and
17160-818: The route that connected Syria to the Hejaz. Several of the Ayyubid castles were used and expanded by the Mamluks (1260–1516), who divided Transjordan between the provinces of Karak and Damascus. During the next century Transjordan experienced Mongol attacks, but the Mongols were ultimately repelled by the Mamluks at the Battle of Ain Jalut (1260). In 1516 the Ottoman Caliphate 's forces conquered Mamluk territory . Agricultural villages in Transjordan witnessed
17303-603: The rural economy and the number of RRBs has significantly increased over the years. By the early 2000s, the term 'financial inclusion' was being used in the Indian context. In 2004 the Khan Commission, created by the Reserve Bank of India (RBI) , investigated the state of financial inclusion in India and laid out a series of recommendations. In response, RBI Governor Y. Venugopal Reddy , expressed concern regarding
17446-546: The secret 1916 Sykes–Picot Agreement , which divided the region into French and British spheres of influence, and the 1917 Balfour Declaration , in which Britain announced its support for the establishment of a "national home" for Jews in Palestine. This was seen by the Hashemites and the Arabs as a betrayal of their previous agreements with the British, including the 1915 McMahon–Hussein Correspondence , in which
17589-410: The structural and motivational barriers for those without a bank account, the Bank On program was created which offers accounts with no overdraft fees, online bill pay and debit or prepaid cards. On May 25, 2020 George Floyd Jr ., an unarmed Black man was murdered by police officers. The assault was filmed and made available to the world via media outlets and social media. The event sparked
17732-406: The term is used to denote the lands east of the river. The Hebrew Bible uses the term עבר הירדן Ever ha'Yarden ( lit. ' the other side of the Jordan ' ) for the area. Early Arab chronicles call the river Al-Urdunn (a term cognate to the Hebrew Yarden ). Jund Al-Urdunn was a military district around the river in the early Islamic era. Later, during the Crusades in
17875-443: The throne in 1953 at age 17. Jordan witnessed great political uncertainty in the following period. The 1950s was a period of political upheaval, as Nasserism and Pan-Arabism swept the Arab World. On 1 March 1956, King Hussein Arabized the command of the Army by dismissing a number of senior British officers, an act made to remove remaining foreign influence in the country. In 1958, Jordan and neighbouring Hashemite Iraq formed
18018-489: The trust of Transjordan's tribal leaders before scrambling to convince them of the benefits of an organized government. Abdullah's successes drew the envy of the British, even when it was in their interest. The British reluctantly accepted Abdullah as ruler of Transjordan after having given him a six-month trial. In March 1921, the British decided to add Transjordan to their Mandate for Palestine , in which they would implement their " Sharifian Solution " policy without applying
18161-467: The upper Senate are directly appointed by the king, the constitution mandates that they be veteran politicians, judges and generals who previously served in the government or in the House of Representatives. The 130 members of the lower House of Representatives are elected through party-list proportional representation in 23 constituencies for a 4-year term. Minimum quotas exist in the House of Representatives for women (15 seats, though they won 20 seats in
18304-618: The value of having a credit opportunity is synonymous to generating financial power. Creditworthiness is the same as to owning a keycard that can be used in navigating to the society of better possibilities." The Bangko Sentral ng Pilipinas (BSP) reports on Financial Inclusion Initiatives and Financial Inclusion in the Philippines summarizes the country's accomplishments and significant milestones in financial inclusion. These reports show that 4 out of 10 Filipinos saved money in 2015 (up from 2 out of 10 in 2009). Among Filipino adults, 24.5% never saved and only 31.3% (up from 26.6%) have an account at
18447-523: The value they brought to local communities. The big banks viewed microfinance organizations as a " tax incentive ", considering the money they offered these organizations was exempted by the US government. Another beneficial aspect that these MFI organizations brought was economic prosperity to entrepreneurs and most importantly to their local community. Through the empowerment of their local communities, MFI organizations are able to reach larger marginalized communities to support and promote upward mobility. Over
18590-497: The vegetation becomes more scrubby and transitions to steppe-type vegetation. Forests cover 1.5 million dunums (1,500 km ), less than 2% of Jordan, making Jordan among the world's least forested countries, the international average being 15%. Plant species and genera include the Aleppo pine , Sarcopoterium , Salvia dominica , black iris , Tamarix , Anabasis , Artemisia , Acacia , Mediterranean cypress and Phoenecian juniper . The mountainous regions in
18733-406: The war. The Arab states were defeated, and Jordan lost control of the West Bank to Israel. The War of Attrition with Israel followed, which included the 1968 Battle of Karameh where the combined forces of the Jordanian Armed Forces and the Palestine Liberation Organization (PLO) repelled an Israeli attack on the Karameh camp on the Jordanian border with the West Bank. Despite the fact that
18876-505: The web. Web Monetization relies on wallet providers using the Interledger Foundation’s Open Payments API standard as a unified way for facilitating payments. Wallet providers may use the Interledger Protocol for fulfilling cross-border, multi-currency payments. Web Monetization is being proposed as a W3C standard in the Web Platform Incubator Community Group. In 2023, the Interledger Foundation’s work shifted to addressing digital financial inclusion by increasing financial services available to
19019-484: Was forcibly ended in 1841, with Ottoman rule restored. Only after Pasha's campaign did the Ottoman Empire try to solidify its presence in the Syria Vilayet , which Transjordan was part of. A series of tax and land reforms ( Tanzimat ) in 1864 brought some prosperity back to agriculture and to abandoned villages; the end of virtual autonomy led a backlash in other areas of Transjordan. Muslim Circassians and Chechens , fleeing Russian persecution , sought refuge in
19162-459: Was a temporary, practical measure and that Jordan was holding the territory as a "trustee" pending a future settlement. King Abdullah was assassinated at the Al-Aqsa Mosque in 1951 by a Palestinian militant, amid rumors he intended to sign a peace treaty with Israel. Abdullah was succeeded by his son Talal , who established the country's modern constitution in 1952. Illness caused Talal to abdicate to his eldest son Hussein , who ascended to
19305-517: Was announced by Prime Minister Narendra Modi in his 2014 Independence Day Speech and launched in August 2014 in an effort to provide "universal access" to banking through the creation of basic banking accounts that come with other basic financial services. Modi informed all Indian banks of the initiative and declared it a national priority. On the inauguration day of the scheme, 1.5 crore (15 million) bank accounts were opened and since then, more than 18 million bank accounts have been created. In 2016,
19448-448: Was established as a priority for the GOI and RBI, progress has been made. Mangalam, Puducherry became the first village in India where all households were provided banking facilities. States or union territories such as Puducherry , Himachal Pradesh and Kerala announced 100% financial inclusion in all their districts. The Indian Reserve Bank vision for 2020 is to open nearly 600 million new customers' accounts and service them through
19591-414: Was established in 2016. The strategy is a guideline for all government institutions in Indonesia and private stakeholders to improve public access to financial services. Priority segments of Indonesia's financial inclusion programs are: By the end of 2019, 75 percent of adult population in Indonesia is expected to have access to formal financial services. The National Council for Financial Inclusion, led by
19734-489: Was part of. During this period, the southernmost region of the country, including Ma'an and Aqaba , was also claimed by the neighbouring Kingdom of Hejaz . The nascent Hashemite Kingdom over the region of Syria was forced to surrender to French troops on 24 July 1920 during the Battle of Maysalun ; the French occupied only the northern part of Syria, leaving Transjordan in a period of interregnum . Arab aspirations failed to gain international recognition, due mainly to
19877-416: Was raised to the status of a kingdom under the name of the Hashemite Kingdom of Jordan in Arabic, with Abdullah as its first king; although it continued to be referred to as the Hashemite Kingdom of Transjordan in English until 1949. 25 May is now celebrated as the nation's Independence Day , a public holiday . Jordan became a member of the United Nations on 14 December 1955. On 15 May 1948, as part of
20020-481: Was re-introduced to the Jordanian parliament in the 2016 general election , a move which he said would eventually lead to establishing parliamentary governments. Jordan was left largely unscathed from the violence that swept the region despite an influx of 1.4 million Syrian refugees into the natural resources-lacking country and the emergence of the Islamic State of Iraq and the Levant (ISIL). On 4 April 2021, 19 people were arrested , including Prince Hamzeh ,
20163-400: Was signed on 26 October 1994. In 1997, in retribution for a bombing , Israeli agents entered Jordan using Canadian passports and poisoned Khaled Mashal , a senior Hamas leader living in Jordan. Bowing to intense international pressure, Israel provided an antidote to the poison and released dozens of political prisoners, including Sheikh Ahmed Yassin , after King Hussein threatened to annul
20306-415: Was to be kept separate from that of Palestine. The second meeting took place in Umm Qais on 2 September, where the British representative Major Fitzroy Somerset received a petition that demanded: an independent Arab government in Transjordan to be led by an Arab prince (emir); land sale in Transjordan to Jews be stopped as well as the prevention of Jewish immigration there; that Britain establish and fund
20449-426: Was unable to repel those raids without the aid of the local Bedouin tribes and the British, who maintained a military base with a small Royal Air Force detachment close to Amman. The Treaty of London , signed by the British government and the Emir of Transjordan on 22 March 1946, recognised the independence of the state. On 25 May 1946, the day that the treaty was ratified by the Transjordan parliament, Transjordan
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