Towards Legal Regulations of Data Privacy in regards to Jordanian Banks Sharing Data with Third Parties

Abstract

This research explores the impact of the absence of comprehensive data privacy regulations in Jordan, particularly on banks when sharing customer data with third parties. While developed countries have stringent regulations like the GDPR and CCPA, Jordan lacks such a framework. Interviews with expertise reveal varying perceptions of existing regulations and their enforcement. The study urges Jordanian lawmakers to prioritize and establish robust data privacy laws, akin to the GDPR, prioritizing user rights. Banks are advised to enhance employee competence, adhere to regulatory standards, conduct due diligence, and ensure proper oversight of third-party data sharing.