On the 4^th August 1965 the first bank notes bearing the name of the Central Bank of Jordan where issued.

Prior to this , currency issues was controlled by two bodies : the Palestine Currency Board from 1927 to 1950 , and Jordan Currency Board from 1950 to 1964 .

When the new currency notes were issued for circulation on the 4^th of August 1965 , the old notes of the two above - mentioned boards were gradually withdrawn to be replaced by those of the Central Bank . The last Government decree in this connection was that taken by the Cabinet on 5^th June 1971 which nullified the note issued by the Jordan Currency Board as from 1^st November 1971 .

The units of notes issued by the Jordan Currency Board where : 50 Dinars , 10 Dinars , 5 Dinars , 1 Dinar and 1/2 Dinar .

The four notes issued by the Central Bank in 1965 where for the following values : 10 Dinars , 5 Dinars , 1 Dinar and 1/2 Dinar .

When the Bank commenced operations in 1964 , the value of circulated money was JD 25,055,032 which rose to JD 112,468,386 by the end of June 1974 .

In 1974 the Central Bank brought out a new series of designs of the four denominations . The object of this exercise was to gradually phase out the 1965 issue . This operation is still in process .

A new high value 20 Dinar note was put into circulation on 3^rd June 1978 .

Historical background

The Palestine Currency Board issued the Palestinian pound as the official currency in both Palestine and Trans - Jordan Emirate from 1927 to 1950 . After Jordan had been declared an independent Kingdom on 25^th May 1946 , the idea of issuing a national currency arose :thus the Provincial Act No 35 of 1949 covering Jordanian currency was passed . Under this act , the Jordan currency Board was formed , and become the sole authority entitled to issue currency notes and minted coins for the Kingdom . The Board consisted of a President and four members and had its Headquarters in London . The Currency unit become the Jordanian Dinar on 1^st July 1950 and the use of Palestinian pound ceased in the Kingdom as from 30^th September 1950 .

The Central Bank was established in 1959 , and as soon as it commenced operations in October 1964 , preparations where started to issue new currency notes bearing the Banks name : Following suit of other banks ; each note is deemed a payment guarantee by Central Bank .