Advisory areas
MFA’s advisory work is organized around eight connected areas. Each begins with a client problem and draws on first-hand experience of policymaking, macroeconomic surveillance and reform, regulation and supervision, international financial institutions and applied research.
Macroeconomic Policy and Risk
Identify and navigate the macroeconomic risks that matter — including the macro-financial nexus.
MFA helps governments, international and regional financial institutions, and public and private institutions translate complex macroeconomic exposures into prudent policy and investment decisions.
What we advise on
- Macroeconomic surveillance and vulnerability assessment, including public-debt and external sustainability
- Fiscal and structural-reform analysis, including subsidy reform
- The impact of domestic, regional and global shifts on macroeconomic exposures and sectoral risks
- The transmission channels through which macroeconomic shocks become institutional risk
- Macro-financial analysis of how changing economic conditions affect financial-sector stability
- Emerging macro-critical issues, including climate-related risks
Experience behind the offer
IMF country surveillance and program work covering fiscal, external, monetary and financial risks and the policies to mitigate them, including Executive Board country reports for Kuwait, Saudi Arabia, Syria, the UAE and Oman. Member of Jordan’s national committees on the management of general public debt and external public debt. Contributed to subsidy-reform work in Jordan, Syria and Yemen. At the Arab Monetary Fund, responsibility for macroeconomic and financial surveillance and reform programs, technical oversight of the agendas of the Council of Central Bank Governors and the Council of Ministers of Finance, and positioning the institution on global issues including climate change. Delegate to the G20 Finance Track during the Saudi presidency (2019–2020).
Central Banking
When economic conditions change, policy frameworks must adapt with them.
MFA advises central banks on monetary-policy frameworks, central-bank strategy, governance and operations.
What we advise on
- Monetary-policy frameworks and instruments, including open-market operations
- Exchange-rate regimes and policy
- Reserve-management policy and governance
- Central-bank governance, independence, transparency and accountability
- Economic reform programs and engagement with international financial institutions
- Macroeconomic scenario and policy analysis
- CBDC policy readiness, needs assessment and macro-financial implications
Experience behind the offer
Ten years as Deputy Governor of the Central Bank of Jordan, with responsibilities spanning monetary policy, reserve management and payment systems, and service as chair or member of the Open Market Operations, Investment and Financial Stability committees. Member of the IMF Executive Board’s Panel of Independent External Experts on the Safeguards Assessments Policy (2021–2022), which addresses central-bank governance, audit and control frameworks. High-level engagement with the IMF and World Bank on Jordan’s macroeconomic programs; IMF research on exchange-rate regime choice, equilibrium exchange rates and inflation in the GCC; and participation in the CBJ’s assessment of the need for a CBDC and of the potential monetary-policy and financial-stability effects of wider regional or global adoption.
Financial Stability, Regulation & Supervision
Identify vulnerabilities early — and build institutions capable of acting when risk materializes.
MFA supports central banks, supervisors and regulators in assessing financial-system risk and strengthening regulatory and supervisory frameworks.
What we advise on
- Financial-stability frameworks and governance
- Macroprudential policy
- Stress testing, early-warning systems and vulnerability analysis
- FSAP preparation and response
- Banking-supervision frameworks
- Corrective-action and enforcement frameworks
- Prudential and Basel-related reform
- Supervisory institutional development
Experience behind the offer
Led FSAP and technical-assistance missions in Europe and the Middle East as IMF Deputy Division Chief, and co-authored the IMF’s Next Generation Balance Sheet Stress Testing framework. Responsible for financial stability and supervision at the Central Bank of Jordan, and a member of the Financial Stability Board’s Regional Consultative Group for MENA for ten years. Member of the Center for Global Development Task Force on Making Basel III Work for Emerging Markets and Developing Economies (2017–2019). Earlier, in the CBJ’s Banking Supervision Department and Governor’s Office, built an early-warning system, sectoral analysis and stress testing for Jordan’s banking system, and guided adoption of prompt corrective action, civil money penalties, Basel II and universal banking.
Crisis Management, Bank Restructuring & Resolution
When a financial institution becomes vulnerable, speed matters — but so do sequencing, legal judgment and containment.
MFA advises regulators, resolution authorities, deposit-insurance institutions and financial institutions on complex distress, restructuring and resolution situations.
What we advise on
- Assessment of institutional viability and risk
- Resolution, merger and restructuring options
- Financial and administrative restructuring
- Cross-border supervisory and legal coordination
- Economic, financial and regulatory expertise in enforcement matters and cross-border litigation, working alongside legal counsel
- Crisis preparedness, resolution-framework design and institutional readiness
Experience behind the offer
Crisis-management strategy for a systemically important regional bank and for a local bank: assessing risks and formulating mitigation measures, advising on cross-border litigation strategy involving the U.S. Anti-Terrorism Act and Alien Tort Statute, providing deposition testimony in New York court proceedings, and liaising extensively with U.S. counsel and the Federal Reserve Bank of New York. Helped shape the Central Bank of Jordan’s COVID-19 response strategy. Chairman of a U.S.-based bank under liquidation (2012–2021). Earlier CBJ work on problem- and failed-bank resolution, mergers, liquidation, licensing and branching, and later on major banking-law reform.
Financial Regulation, Legislation & AML/CFT
Regulatory frameworks must achieve their policy objectives without creating avoidable institutional or market distortions.
MFA supports central banks, regulators and public authorities on the design and review of central-bank, financial-sector and AML/CFT laws, regulations, governance and remediation frameworks. It also helps regulated entities give constructive, evidence-based feedback on draft legislation and remediation measures.
What we advise on
- Central-bank legislation
- Banking and prudential regulation
- AML/CFT legal and regulatory frameworks
- Insurance-sector regulation
- Electronic-transactions and payments legislation
- Money-exchange regulation
- Regulatory governance, readiness and remediation frameworks
- Policy and institutional responses to external assessments
Experience behind the offer
Dr. Hasan led major legal and regulatory reforms in Jordan covering the Central Bank Law, Banking Law, AML/CFT Law, Insurance Sector Regulation Law, Electronic Transactions Law and Money Exchange Business Law. He served for ten years as Vice-Chairman of Jordan’s National Committee for Anti-Money Laundering and Counter-Terrorist Financing. In Jordan’s grey-list response, he helped design the strategy with relevant stakeholders, led the legislative process for a new AML/CFT law on the central-bank and government side, and coordinated and oversaw key early implementation steps before leaving the Central Bank and the National Committee in early 2022.
Islamic Finance
Regulation that fits the industry — and keeps a level playing field.
Islamic finance is among the fastest-growing segments of the financial industry in the MENA region and beyond. Its healthy growth depends on a regulatory framework that fits the industry while preserving a level playing field with conventional institutions. MFA advises regulators, financial institutions and industry bodies on Islamic-finance regulation, prudential frameworks, market development and related policy questions.
What we advise on
- Islamic-finance legislation
- Prudential regulation for Islamic banks and takaful (Islamic insurance) operators
- Governance of Islamic financial institutions and the role of Shari’ah boards
- Central-bank lender-of-last-resort arrangements for Islamic banks
- Stress testing for Islamic banks
- Islamic guarantee and SME-finance instruments
Experience behind the offer
Ten years as Deputy Governor of the Central Bank of Jordan supervising Islamic banks and Islamic insurance. Led amendments to the banking law to strengthen the loss-absorbency of capital at Islamic banks, and introduced Islamic guarantee instruments as Chairman of the Jordan Loan Guarantee Corporation. Vice-Chairman of the AAOIFI Public Interest Monitoring Consultative Committee (2021–present); member of the IFSB Capital Adequacy Working Group (2003–2005); council member of Jordan’s Ministry of Awqaf and Islamic Affairs (2012–2022). Co-authored IMF research comparing the performance of Islamic and conventional banks during the global financial crisis.
Financial-Sector Development & Innovation
Expanding access and innovation requires a balance between market development, institutional capacity and risk.
MFA advises authorities and public financial institutions on national financial-inclusion strategies, SME finance, guarantee schemes, inclusive payment-system strategy and regulation, electronic-transactions frameworks and digital-currency policy.
What we advise on
- Financial inclusion and financial literacy
- Loan and credit-guarantee frameworks
- SME-finance policy and governance
- Payment-system strategy, governance and regulation
- Electronic-transactions frameworks
- Digital-finance and CBDC policy assessment
Experience behind the offer
Dr. Hasan chaired the Jordan Loan Guarantee Corporation from 2012 to 2022, overseeing a transformation in which its balance sheet grew from JD22 million (2011) to JD799 million (2021), as it became the channel for national guarantee and Central Bank financing programs, while profitability was strengthened and stabilized. He chaired the Technical Committee of Jordan’s National Financial Inclusion Strategy (2018–2020) and serves on the Central Bank of the UAE’s Financial Inclusion and Literacy Advisory Working Group (2025–present). He was Vice-President of Jordan’s National Payment Council, a board member of Jordan Payments and Clearing Company (JoPACC), and a member of the committee managing the Jordan Renewable Energy and Energy Efficiency Fund — complementing his Deputy Governor responsibilities for payment systems, consumer protection and electronic-transactions reform.
Institutional & Strategic Risk
See risks across institutions — and strengthen the governance needed to act.
MFA supports boards, public pension and guarantee institutions, and regional and development financial institutions with macro-financial risk analysis and stronger risk, governance and lending frameworks.
What we advise on
- Pension-system governance and financial-sustainability risk
- Review of economic and actuarial assumptions
- Macro-financial risk and scenario analysis
- Institutional governance, enterprise-risk oversight and business continuity
- Lending frameworks, creditor standing and arrears resolution for regional and development lenders
- Board-level economic and institutional advice
Experience behind the offer
As a board member of the Social Security Corporation (SSC) and chair of its Governance and Risk Management committees, Dr. Hasan provided board-level oversight of institutional risk, governance, investment strategy and long-term financial sustainability; strengthened SSC’s risk-management and governance architecture; and challenged the economic assumptions underpinning actuarial assessments. At the Arab Monetary Fund he led the introduction of Preferred Creditor Status, oversaw the resolution of more than 90% (by value) of member countries’ arrears, chaired the Lending and Research committees and served on the Investment Committee. At the Central Bank of Jordan he chaired or served on the Risk Management and Compliance, Cybersecurity, Business Continuity and Human Resources committees.
What we help clients solve
Senior decision-makers rarely start with a service category. They start with a problem.
- What macroeconomic risks could affect economic stability or our investment decisions?Macroeconomic Policy and Risk
- Is our monetary or exchange-rate framework still right for current conditions?Central Banking
- Where are vulnerabilities building in the financial system — and what should be done before they become systemic?Financial Stability, Regulation & Supervision
- How should we respond to a weak, distressed or systemically important financial institution?Crisis Management, Bank Restructuring & Resolution
- What reforms are needed to strengthen our supervisory, legal, AML/CFT or institutional framework?Financial Regulation, Legislation & AML/CFT
- How should we prepare for an FSAP, an external assessment or a major financial-sector reform?Financial Stability, Regulation & Supervision · Financial Regulation, Legislation & AML/CFT
- How should reforms be sequenced when economic, institutional and implementation constraints interact?Macroeconomic Policy and Risk · Central Banking
- How can Islamic finance grow on a level playing field with conventional finance?Islamic Finance
- How can financial inclusion, guarantee schemes, payment systems or digital-currency policy be developed without creating new risks?Financial-Sector Development & Innovation
- Which macroeconomic, fiscal or regulatory scenarios should our board consider before committing to a major decision?Institutional & Strategic Risk