Al Hussein Technical University (HTU), an initiative of the Crown Prince Foundation (CPF), has recently introduced the "Arab Bank Innovation Space." This initiative stands as a testament to the support extended by Arab Bank, in accordance with its ongoing collaboration agreement with HTU.

This opening stems from the HTU’s "Business Partnership to Support Educational Spaces" program, which seeks strategic and purposeful collaborations with the private and business sectors, to leverage opportunities that improve the students’ readiness for the labor market. The opening ceremony was attended by the President of Al Hussein Technical University, Prof. Ismail Al-Hinti, and Arab Bank CEO, Ms. Randa Sadik.

It is worth noting that the new space was designed in accordance with the latest standards and specifications. It is and equipped with tools and devices essential for offering an innovative and interactive learning experience to students, enabling them to explore distinctive innovation and entrepreneurial potentials. The space also functions as a hub for aspiring entrepreneurs to pitch and present their business ideas to experts, fostering knowledge exchange. It also hosts various activities and events, inviting specialized experts from Arab Bank, the private sector, and academia. These experts contribute to enriching the students’ learning journey through knowledge transfer and exchange.

Ms. Randa Sadik, commenting on the inauguration of the new space, said: "We take pride in our collaboration with Al Hussein Technical University (HTU), an outstanding academic institution that applies an advanced educational model bridging the gap between theoretical knowledge and practical experience. This model fosters creative thinking and entrepreneurship among the students.” Ms. Sadik further added: “The opening of the Arab Bank Innovation Space at HTU aligns with the bank’s constant commitment to support the education sector and promote entrepreneurship in the Kingdom. It contributes to consolidating vital efforts aimed at capacity building among Jordanian youth by creating a distinctive learning environment that endorses creative thinking, startups, innovation, and entrepreneurship.”

For his part, Prof. Ismail Al-Hinti expressed his gratitude for the collaboration with Arab Bank, emphasized, “The new innovation space is a crucial step towards integrating academics with pragmatic skills. He further added that this collaboration truly demonstrates a commitment to providing a dynamic learning environment that inspires innovation and entrepreneurship while bridging the gap between the curriculum and evolving needs of the industry.

It is worth noting that Arab Bank and HTU signed a strategic cooperation agreement, encompassing the establishment of an innovation space, annual internship and career opportunities for students, support for innovation and entrepreneurship courses, and the implementation of various student initiatives. The agreement also entails providing a range of digital banking services to students, including the student ID card designed in line with Arab Bank’s “Reflect” debit card, addressing both the university and the students’ banking needs.

As part of its social responsibility efforts and in collaboration with Tkiyet Um Ali (TUA), Arab Bank has distributed 1,178 winter blankets to 610 TUA beneficiary families from across the Kingdom within the “Lamset Dafa” initiative.

This initiative, supported by Arab Bank for the eleventh consecutive year, was launched at the beginning of winter with an aim to alleviate the financial burdens of underprivileged families supported by TUA throughout the cold season.

For his part, Director General at Tkiyet Um Ali, Mr. Samer Balkar thanked Arab Bank for its continuous support of Tkiyet Um Ali, stating: “We thank Arab Bank for its continuous support of Tkiyet Um Ali’s programs over the years. This unwavering support reflects the bank’s belief in TUA’s vision in reaching a hunger-free Jordan and supporting the families in need.”

Commenting on the initiative in specific, Balkar praised the bank’s efforts in helping underprivileged families during the winter season, reaffirming that this initiative is greatly welcomed and appreciated by TUA’s beneficiary families as it alleviates their burdens and spreads joy among them.

Tkiyet Um Ali provides monthly sustainable food support to 20,000 underprivileged families living in extreme poverty in all provinces and governorates across the Kingdom. The families receive monthly parcels containing food items that include all the basic nutritional elements, which fulfill the needs of a family for the entire month.

It is worth mentioning that Arab Bank’s social responsibility program “Together” has been supporting community initiatives since its launch, through which hundreds of the bank’s employees volunteered their time and effort. The program also allows customers to donate to several NGOs through Arab Bank’s electronic channels that include ATMs, internet banking as well as “Together” Platinum Credit Card.

In recognition of the significant role played by its volunteers as part of the bank’s corporate social responsibility program “Together”, the bank has recently honored its employees who have participated in a range of volunteering activities and initiatives, throughout the past year. The honoring ceremony took place at the bank’s head office building and was attended by Arab Bank Chairman of the Board of Directors, Mr. Sabih Masri and Chief Executive Officer, Ms. Randa Sadik, in addition to several department heads and employees.

This annual ceremony comes in recognition of Arab Bank’s employees who have volunteered their time and efforts during the year in various activities and initiatives aimed at serving the local community in many areas, including health, environmental protection, poverty alleviation, education, orphan support, and women empowerment.

During the ceremony, the employees expressed their deep gratitude and appreciation of the recognition they received from the bank which represents an opportunity for them to reaffirm their continued commitment towards supporting their community and contributing towards achieving sustainable development.

This year, Arab Bank’s volunteers carried out a total of 74 initiatives implemented by 412 employees across various departments, with a total of 972 volunteers’ participation that reached nearly 377,000 beneficiaries across the Kingdom through the bank’s support of various sustainability-related initiatives.

It is worth mentioning that Arab Bank’s social responsibility program “Together” has been supporting community initiatives since its launch, through which hundreds of the bank’s employees volunteered their time and effort. The program also allows customers to donate to several NGOs through Arab Bank’s electronic channels that include ATMs, internet banking as well as “Together” Platinum Credit Card.

Arab Bank has recently sponsored the World Orphans Day program in collaboration with the Charity Clothing Bank, through which clothes, shoes and toys were provided to children at the Clothing Bank’s showrooms in Amman, Al-Mafraq, and Wadi Musa.

This cooperation comes as part of Arab Bank’s corporate social responsibility program “Together” and efforts in providing clothes and toys to over 7,000 orphaned children across the kingdom. This is in addition to the bank’s efforts in providing its employees with opportunities to volunteer in community initiatives that contribute to achieving social solidarity.

The Charity Clothing Bank, since its establishment in 2013, has served over 1,442,552 beneficiaries and distributed more than 6,898,000 clothing pieces to underprivileged families supported by the National Aid Fund and other NGOs, through initiatives held at the Clothing Bank’s showrooms in Amman and Al-Karak.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social, and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

ACABES for Financial Technology has recently launched the "Arabi Shopix", a first of its kind service in the Kingdom in collaboration with Arab Bank. The new service offers ACABES and Arab Bank customers, including merchants, the ability to build and design an e-commerce website as part of the host of integrated digital banking solutions designed to meet the needs of SMEs through the “Arabi SMEs” program. The launch of this service comes as part of ACABES and Arab Bank’s ongoing commitment towards providing flexible and advanced digital banking solutions to their customers.

The “Arabi Shopix” service allows merchants to design and build high-performance and fast integrated e-commerce sites that suits their needs in terms of design, content, and inventory. This allows them to properly showcase their products in an innovative manner and then sell them online easily and securely. The websites designed also offer an easy and simple inventory monitoring feature, and a secure e-payment gateway through Arab Bank, as well as built-in shipping services at reasonable prices.

Euromoney Magazine has evaluated the benefits offered by “Arabi Shopix” and accordingly awarded the service the “Top Innovations in Finance – SME” award.

It is worth mentioning that ACABES for Financial Technology was established in 2021 by Arab Bank as the bank's technological arm, through which it contributes to providing FinTech services to the corporate sector, including SMEs, both locally and regionally. Arab bank has recently received several international awards in recognition of its offering for SMEs. The awards include “Best Bank for SMEs in the Middle East” by Euromoney Magazine, and “Best SME Bank in Jordan” by Global Finance.

Arab Bank was the golden sponsor of the Seventh Quality Health Care Conference, which was organized by the Health Care Accreditation Council (HCAC) under the royal patronage of His Majesty King Abdullah II bin Al Hussein. The conference was held at the Kempinski Hotel - Amman under the theme "Globalization Toward Quality & Patient Safety: A Future Perspective" with the aim of incorporating the principles of quality and safety for patients and healthcare workers, making them a priority and fundamental aspect of all operations and production in the healthcare sector. His Excellency the Minister of Health inaugurated the conference on behalf of His Majesty King Abdullah II.

The two-day conference included six panel discussions and workshops led by a group of healthcare and patient-safety experts from Jordan and abroad. The conference also witnessed the attendance of over 700 participants from various health fields and specialties, including administrators and service providers, to benefit from global, regional, and local experiences and discuss the latest global healthcare innovations, as well as ways to employ them to serve the local healthcare sector. Additionally, the conference addressed the relationship between digital health, artificial intelligence (AI), and quality assurance.

Arab Bank's sponsorship of this conference is part of its constant commitment towards supporting initiatives and events focusing on the development of vital areas of the economy and community, including the medical sector, and supporting the efforts aimed at achieving sustainable development. The bank also aims to support the vital role played by the medical sector in keeping up with the latest healthcare developments that enhance the services provided to patients in Jordan and reinforce the principles of quality, as well as patient and healthcare workers’ safety.

Arab Bank Group delivered strong financial performance in the first nine months of this year, reporting net income after tax of $630.3 million compared to $405.8 million for the same period last year with an increase of 55%.

The Group maintained its strong capital base with a total equity of $10.8 billion. Loans grew to $36.3 billion and deposits reached $49 billion. Excluding the impact of devaluation of several currencies against the US dollar, loans and deposits grew by 4% & 5%, respectively.

Mr. Sabih Masri, Chairman of the Board of Directors, stated that the results underscore the bank’s success in pursuing its growth strategy, despite the challenging environment.

Ms. Randa Sadik, Chief Executive Officer, stated that the bank succeeded in delivering continued growth through its operating entities and across different segments. This is inline with the bank’s objective to achieve sustainable results across all business lines. Ms. Sadik added that the Group continues to benefit from the diversified business model and its prudent risk strategy with key indicators remaining strong where loan-to-deposit ratio stood at 74%, and credit provisions held against non-performing loans continue to exceed 100%, and capital adequacy ratio of 16.9%.

It is worth noting that Arab Bank announced recently the successful issuance of its $250 million in Additional Tier 1 (AT1) Capital Securities with a fixed coupon of 8%. The issuance was through a private placement and was listed on the International Securities Market (ISM) and the Sustainable Bond Market of the London Stock Exchange. The bond’s proceeds will be used to finance a portfolio of qualified sustainable projects.

Arab Bank announced the successful issuance of USD 250 million in Additional Tier 1 (AT1) Capital Securities. The milestone marks the first sustainable perpetual AT1 issue in Jordan.

The bond, which was issued through a private placement, is listed on the International Securities Market (ISM) and the Sustainable Bond Market of the London Stock Exchange. The bond, which offers investors an interest rate of 8%, attracted a diverse group of investors, including large institutional and individual investors from Jordan and several other countries where Arab Bank operates.

The issuance is intended to further strengthen the bank’s capital base and diversify its sources of funding, to support its future plans for regional growth and expansion.

Arab Bank’s Chairman Sabih Masri expressed his gratitude towards investors and stated: "The overwhelming demand for this issuance, which exceeded the issue size, underscores the deep-rooted confidence that local and regional investors bestow upon Arab Bank.” He also extended his sincere thanks to the Central Bank of Jordan and Jordan Securities Commission for their instrumental support.

“We are proud to receive such a strong vote of confidence from investors in response to this significant issuance” commented Ms. Randa Sadik, Arab Bank’s CEO.  The proceeds of the issuance will be used to finance a portfolio of qualified sustainable projects, in line with Arab Bank’s strategy to integrate Environmental, Social and Governance (ESG) principles across the organisation.

"In the upcoming period, we anticipate further initiatives, which will further boost the bank’s performance across the various business sectors” Ms. Sadik added. “Our emphasis will remain on expanding into new markets, diversifying our revenue streams and continuing to provide comprehensive banking services and solutions, supported by integrated digital platforms and channels."

Arab Bank, headquartered in Amman Jordan, was established in 1930 and currently has one of the largest global Arab banking networks with over 600 branches spanning five continents and covering key financial markets and centres. Earlier this year, Arab Bank was named the “Best Bank in the Middle East for 2023” by Global Finance magazine for the eighth consecutive year.

Global Finance, a New York-based international publication, has recently named Arab Bank the “Best SME Bank in Jordan 2023” in recognition of its corporate banking services. The bank was chosen by a world-class panel of judges, which included experts in consulting, technology, and outsourcing, in addition to the magazine’s team of editors and based on independent research.

This global recognition comes as a result of Arab Bank’s constant efforts to deploy the latest digital banking solutions and services that meet the needs of its SME corporate customers, offering a seamless banking experience in line with the latest technologies in the banking industry.

Arab Bank was selected for this award based several factors, including: knowledge of SME markets and needs, breadth of its products and services, market standing, and innovation.

Earlier this year, Arab Bank was also awarded “Best Bank for SMEs in the Middle East” by Euromoney Magazine, and “Top Innovations in Finance – SME” by Global Finance.

Arab Bank employees recently volunteered in several cultural activities held for a group of children from the SOS Children's Villages at the Knowledge Path Library by Abdul Hameed Shoman Foundation, Arab Bank’s cultural and social responsibility arm.

The knowledge path’s team in collaboration with the bank’s volunteers organized a number of activities for 16 children, which included a storytelling segment, where the children enjoyed a collection of stories and cultural tales narrated by the library’s “Hakawati”. Additionally, many arts and crafts activities were organized to nourish the children’s love for reading given the role of art in storytelling through building their favorite story character. A free reading session was also conducted, where the children were able to search for a book or story to read.

The initiative witnessed great participation from the children and provided a safe space to explore through a variety of interactive and reading activities that stimulate their creative skills and abilities.

Over the past years, the Knowledge Path library welcomed a number of Arab Bank employees who volunteered to host reading and cultural activities for underprivileged children. This comes as part of Arab Bank’s commitment towards its social responsibility, and its constant efforts to enhance the learning environment for children.

It is worth mentioning that the Knowledge Path Library, part of Abdul Hameed Shoman Foundation, is a children’s library that opened its doors in 2013 for children and teens of diverse backgrounds as a creative and interactive knowledge space that is trusted by parents. 

As part of its ongoing campaigns to support children and education every year, Arab Bank donated more than 900 school bags as part of the "Back to School" campaign in collaboration with the Crown Prince Foundation, which targets various governorates in the Kingdom. A group of the bank’s employees participated in distributing school bags containing the essential stationery such as pens, notebooks, pencil cases, and more.

The campaign aims to alleviate the financial burdens that families face when purchasing school supplies and comes as part of Arab Bank's commitment to provide support for less fortunate students, motivate them and increase their enthusiasm for education and school.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve economic, social and environmental sustainable development. “Together”, Arab Bank’s corporate social responsibility program, is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

Arab Bank, in collaboration with INJAZ, has launched a specialized training program aimed at enhancing and raising financial awareness among women in several governorates across the Kingdom. This initiative comes as part of Arab Bank’s sustainability and social responsibility strategy, as well as its efforts in promoting and spreading financial literacy among various segments of the local community. 


The new training program, which is part of Arab Bank’s women empowerment initiatives, aims to introduce the women to fundamental financial terms and skills. This includes proper financial planning, responsible consumption, key financial and digital products and services, types of accounts and loans, and ways to manage them. The program also explains the concept of cybersecurity and offers ways to mitigate associated risks. 

Arab Bank has collaborated with several NGOs to reach 250 women across the different age groups in the northern, central and southern parts of the Kingdom. The program is implemented in cooperation with Tkiyet Um Ali, Dar Abu Abdallah, the Jordan River Foundation, the RSCN, and the Jordan Hashemite Charity Organization.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve economic, social and environmental sustainable development. “Together”, Arab Bank’s corporate social responsibility program, is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

Arab Bank has recently renewed its cooperation agreement with the SOS Children’s Villages – Jordan. Through this agreement, the bank will continue to sponsor a family home in which 5-7 children live, by covering a significant portion of its current expenses as part of Arab Bank’s CSR program “Together”.

This agreement comes as part of Arab Bank’s constant efforts to support community initiatives aimed at providing a decent living for orphans and children deprived of familial support. It also seeks to support the SOS Villages’ vital efforts in assisting the children and providing a family atmosphere for them to become active and independent members of the society once they depart the villages.

Ms. Rana AlZoubi expressed her pride in the ongoing strategic collaboration with Arab Bank since 2015, which enables the SOS Children’s Villages to continue providing holistic care that covers various needs including food security, housing, education, health and psychological care, empowerment, economic security, protection, and community integration. AlZoubi also praised Arab Bank’s support of the organization and reaffirmed the importance of these partnerships in fulfilling the organization’s vital role of providing familial support to children and youth who lack it.

The SOS Children's Villages - Jordan is a national non-profit organization that was established in 1983. The Association cares for orphaned and foster children who lack parental care in Amman, Aqaba and Irbid, and across youth houses affiliated with the organization.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve economic, social and environmental sustainable development. “Together”, Arab Bank’s corporate social responsibility program, is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

Global Finance, a New York-based international publication, has recently named Arab Bank the “Best Consumer Digital Bank in Jordan 2023”. The bank also received 17 awards in recognition of its corporate and consumer digital banking services across Middle East markets.    

Arab Bank was chosen by a world-class panel of judges, which included experts in consulting, technology, and outsourcing, in addition to the magazine’s team of editors. The criteria of selection included: strength of strategy for attracting and servicing digital customers, success in getting clients to use digital offerings, growth of digital customers, breadth of product offerings, evidence of tangible benefits gained from digital initiatives, web/mobile site design and functionality, and the breadth of its product and service offering.

This global recognition complements Arab Bank’s significant success record and comes as a result of its constant efforts to deploy the latest digital banking solutions and services that meet the needs of its customers across the different sectors in line with the latest technologies in the banking industry.

In Jordan, Arab Bank’s list of awards included Best Innovation and Transformation, Best Bill Payment & Presentment, Best in Lending, Best in Social Media Marketing and Services, Best Mobile Banking Adaptive Site, Best Integrated Consumer Banking Site, Best Online Product Offerings, Best Mobile Banking App, Best Open Banking APIs, and Best User Experience (UX) Design. On the corporate level, the bank also received the Best Trade Finance Services and Best Mobile Banking App awards.

Additionally, the bank received the “Best Consumer Digital Bank” award in both Palestine and Egypt, as well as the “Best Corporate Digital Bank” award in Palestine.

On the regional level, Arab Bank received a total of two recognitions for its consumer services, which included “Best Lending Bank in the Middle East” and “Best Bill Payment and Presentment in the Middle East”.

It is worth mentioning that Arab Bank was recently named “Best Bank in the Middle East 2023” by Global Finance for the eighth consecutive year.

Arab Bank was the platinum sponsor of the 7^th Jordan Science and Art Festival, which was held for three days at the Children’s Museum. The event targeted children between the ages of 4 to 12 years and was attended by over 4,000 parents and their children.

Arab Bank’s support of this festival comes as part of its CSR program “Together”, which addresses a range of different aspects that align with the values of citizenship and social responsibility. The bank seeks to continuously collaborate with the Children’s Museum in line with its efforts to support targeted educational and awareness-raising programs and initiatives.

The festival, which is organized annually by the museum with the support of Arab Bank, included a wide variety of activities and entertaining theatrical performances in science, art and literature, and over 35 interactive workshops. These activities aimed to instill a love of learning in children, nurture their curiosity and imagination based on interaction, exploration in addition to analytical thinking and innovation. The content and activities were presented in collaboration with more than 10 educational institutions and education experts who provided the workshops’ content, activities, and shows for children.

The Children’s Museum Jordan is a non-profit educational organization established by Her Majesty Queen Rania Al Abdullah in 2007. Located in Al Hussein Public Park, the Museum has over 190 interactive indoor and outdoor exhibits and learning facilities that include a library, an art studio, a laboratory, and a secret garden. It offers educational programs and celebrations around the year.

As part of its ongoing commitment to support impactful children's activities, Arab Bank has recently sponsored an educational event on water scarcity and its importance for its "Arabi Junior" customers in collaboration with “The Orenda Tribe”. The event aimed to increase the children's awareness of this vital local and global issue and enhance their understanding of their role in their community and the world.  

The event featured a range of educational activities including drawing, storytelling, educational materials, and other interactive elements focused on the issue of water scarcity in Jordan. These activities aimed to instill a sense of responsibility in the children towards conserving water consumption and contributing to a water-secure future in Jordan.

Arab Bank’s support of this initiative comes in line with its CSR program “Together”, which addresses different aspects that align with the values of citizenship and social responsibility. This includes initiatives and activities that cater to the children’s interests, resonating with the bank’s commitment to this age group by supporting educational and awareness-raising programs.

In line with the strategic collaboration between Arab Bank and Tkiyet Um Ali, the bank donated 1,250 school bags within the "Back to School" campaign launched by Tkiyet Um Ali to support children and their education. A group of the bank’s employees participated in distributing school bags containing essential stationary to children from TUA’s beneficiary families across Amman, Irbid, and Zarqa.

The campaign aims to alleviate the financial burdens that families face when purchasing school supplies, and comes as part of Arab Bank's commitment to supporting TUA’s beneficiary families.

Director General at Tkiyet Um Ali, Mr. Samer Balkar, praised the bank’s support, stating: "We thank Arab Bank for sharing our responsibility toward underprivileged families by supporting the bank to school campaign, conducted for the second year in a row.” He added: “Each year, the campaign aims to alleviate the burdens of families who are unable to provide the necessary school supplies to their children. Last year, our survey demonstrated that the initiative successfully contributed to improving the students’ academic performance and significantly enhanced their enthusiasm levels.”

Tkiyet Um Ali provides monthly sustainable food support to 20,000 underprivileged families living in extreme poverty in all provinces and governorates across the Kingdom. The families receive monthly parcels containing 19 food items that include all the basic nutritional elements, which fulfill the needs of a family for the entire month.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve economic, social and environmental sustainable development. “Together”, Arab Bank’s corporate social responsibility program, is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

Arab Bank has signed a joint collaboration agreement with the Royal Society for the Conservation of Nature (RSCN) to establish a production line for liquid soap as part of Soap House project in Ajloun Forest Reserve.

This collaboration reflects Arab Bank's commitment to supporting vital efforts aimed at achieving sustainable community and environmental development through implementing initiatives that have a positive economic, social, and environmental impact. This is in addition to supporting environmental protection projects that contribute to economic development and enhance the living standards of local communities.

Through the agreement, the RSCN will initiate a liquid soap production line in response to increasing demand, guided by research and studies conducted by the society to enhance the visitor experience and meet their evolving needs. Additionally, the RSCN will introduce a new product to the current lineup, made with virgin olive oil, thus facilitating the integration of production between the soap workshop in Ajloun and the pottery and ceramics workshop in Dibeen Forest Reserve, to create pottery packaging for the liquid soap, further contributing to the conservation of nature around the region.

Mr. Fadi Naser, Director-General at the Royal Society for the Conservation of Nature, said: "This agreement represents an important step towards enhancing sustainability and the conservation of nature. It will also help create additional job opportunities and improve the income of the local community surrounding the reserve.”

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social, and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

Arab Bank continued its collaboration with Queen Rania Teacher Training Academy and its programs, aimed at developing the teachers' skills and providing them with the necessary support and knowledge, thus improving the quality of education and the effectiveness of teachers in the classroom as a main pillar in community building. Through its support, the bank has contributed to the training of over 1,000 teachers from across the Kingdom.

This seven-year collaboration is part of the bank's support for the "Teach Like a Champion" program, which covers multiple areas such as students’ understanding, academic rhythm, participation, and critical thinking, along with the five principles of class culture and virtual class management. Over the years, the program has successfully achieved its objectives in building the trainees' knowledge and skills and influencing the teachers’ classroom culture by enhancing their ability to manage classes more, both academically and behaviorally. In terms of sustainable impact, the achieved results indicate that the program significantly enhances the teachers’ classroom management skills in a sustainable manner, with over 6,000 teachers trained since its launch.

Established in 2009, QRTA is a non-profit organization committed to the vision of Her Majesty Queen Rania Al Abdullah of advancing the quality of education by empowering educators with relevant skills. The academy offers innovative and evidence-based professional development programs in Jordan and the region based on international best practices and the latest research in the field. The Academy has provided over 100,000 professional development opportunities for teachers and educational leaders.

Arab Bank’s support of this program is part of its social responsibility program “Together”, a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

Arab Bank has recently launched the "Visa Arabi Switch" digital card, the first of its kind in Jordan and the region, in collaboration with Visa, the global leader in digital payments. The new card combines both Arab Bank credit and debit cards into a single card, enabling customers to link their Arab Bank accounts in Jordan and abroad through the "Arabi Cross Border" program, which spans the UAE, Bahrain, Qatar, Egypt, Palestine, and Lebanon.

The launch of this new card comes as part of Arab Bank’s strategy to develop its digital payment offering and provide its customers with flexible and advanced banking solutions that meet their evolving needs and expectations.

The “Visa Arabi Switch” digital card is a new and innovative payment solution that is both seamless and secure, offering a digital screen and interactive arrows to switch between cards, including debit and credit, with the card details shown on the screen. The new card also offers a dedicated button that displays customer care numbers on the screens, in addition to the contactless feature that can be used across ATMs and points of sale.

Commenting on the launch of this card, Mr. Yacoub Matouk, Head of Consumer Banking at Arab Bank – Jordan, said: “The launch of the Visa Arabi Switch digital card for the first time in Jordan reflects Arab Bank’s commitment to adopting the latest advancements in the banking industry to serve its customers.” He added: “The new Visa Arabi Switch digital card is an added value addition to the host of digital banking solutions provided by Arab Bank, making it easier for customers to carry a single card while travelling and offering an advanced banking experience that saves their time and effort.”

In turn, Mr. Mario Makary, Visa's Country Manager for Levant, said: “We continuously seek to offer the latest digital payment solutions to our customers in Jordan through our partners, who share our vision for customer service excellence. The new card is a first of its kind in the region, and we look forward to creating more innovative opportunities to launch safe and secure digital payment methods.”

Arab Bank’s card products provide a wide range of benefits to their cardholders, including worldwide acceptance and easy and secure access to credit card accounts anytime through both “Arabi Mobile” and the bank’s internet banking service “Arabi Online”. Arab Bank cardholders can also benefit from the “Easy Payment Plan” service at a wide list of merchants. This is in addition to the bank’s innovative payment solutions using smartphones, such as the “Arabi MobiCash” app and the “Apple Pay” service.

Arab Bank has recently sponsored the World Orphans Day program in collaboration with the Charity Clothing Bank, through which clothes, shoes and school bags were provided to children at the clothing bank’s showroom in Al-Karak.

This cooperation comes as part of Arab Bank’s corporate social responsibility program “Together”, which has enabled the Charity Clothing Bank to provide clothing and gifts to over 7,000 orphaned children from across the Kingdom. This is in addition to the bank’s efforts in providing its employees with opportunities to volunteer in community initiatives that contribute to achieving social solidarity. 

The Charity Clothing Bank, since its establishment in 2013, has served over 1,442,552 beneficiaries and distributed more than 6,898,000 clothing pieces to underprivileged families supported by the National Aid Fund and other NGOs, through initiatives held at the Clothing Bank’s showrooms in Amman and Al-Karak.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social, and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

 Arab Bank has recently launched a special promotional campaign for housing loans, which offers its customers who wish to own a property, including Jordanian expatriates, the ability to receive a mortgage loan with competitive benefits and preferential terms during the summer.

The campaign offers six winners the chance to enter a monthly draw and receive 0% interest rate for one year. This includes existing and new customers, who use the “Baeti” service to search for properties online, conduct proper financial planning, calculate the loan based on their financial capabilities and their choice of filters including property size, location and more. The campaign, which will run until November 28^th, 2023, also provides preferential interest rate, exemption from loan processing fee, alongside the bank covering the appraisal and mortgage fees.

Commenting on the launch of the campaign, Mr. Yacoub Matouk, Head of Consumer Banking at Arab Bank – Jordan, said: “We continuously seek to provide our customers with a unique banking experience and value-added offers that meet their needs and fit their lifestyle." He added: "This campaign comes as part of Arab Bank’s constant efforts to provide flexible financing solutions that reward its existing and new customers and enable them to own the property of their choice with competitive advantages that reduce the financial burdens.”

It is worth mentioning that Arab Bank provides a host of comprehensive financing solutions to its customers, which entail housing, personal and auto loans with competitive benefits that include loan amounts in line with the customer’s needs, flexible installment periods and competitive interest rates all within easy and efficient processes in addition to a dedicated customer service team.

Arab Bank has recently launched “Arabi SMEs”, a host of integrated banking solutions designed to meet the needs of SMEs. The launch comes as part of the bank’s constant commitment towards supporting SMEs and enabling the evolving needs of this vital sector.

“Arabi SMEs” provides various digital solutions that include “Arabi Next”, a first of its kind app in Jordan designed specifically to meet the needs of SMEs and offer them an advanced digital banking experience that allows them to conduct their transactions around the clock. This is in addition to eCommerce digital solutions tailored to allow businesses to market their products online via “Arabi E-Mart”, as well as design their websites using “Arabi Shopix”. The solutions also entail e-payment getaway, POS machines, and a dedicated Arab Bank relationship manager for support on business needs. In addition to the “Arabi SMEs” host of advanced digital banking solutions and channels, the program also offers SMEs lending solutions that include quick business loans, medical equipment financing for doctors, and auto loans. The bank offers this vital sector a wide range of comprehensive banking services through its vast network of branches and business centers across the Kingdom.

Commenting on the program launch, Mr. Yacoub Matouk, Head of Consumer Banking at Arab Bank – Jordan, said: “The launch of Arabi SMEs is part of Arab Bank’s strategy and commitment to keeping pace with the latest advancements in the business sector, and its belief in the vital role undertaken by SMEs in contributing to economic development.” He added: “We continue to support our corporate customers by providing them with a host of benefits and services that enable them to grow their business and expand locally, as well as increase their profitability in a way that ensures their success and continuity, and meets their growth objectives.”

It is worth mentioning that Arab Bank is one of the leading banking institutions that support the SMEs sector, both locally and regionally. The bank has also recently received several awards from globally recognized entities, most notably “Best Bank for SMEs in the Middle East” by Euromoney Magazine, “Top Innovations in Finance – SME” and “Best SME Bank in Jordan” by Global Finance Magazine.

Arab Bank Group reported solid results for the first half of 2023, The Group’s strong performance was driven by robust growth in its core banking business across different markets, as net profit after tax increased by 59% reaching $401 million as compared to $252 million for the same period last year.

The Group maintained its strong capital base with a total equity of $10.6 billion. Loans grew to $36.1 billion and deposits reached $48.3 billion. Excluding the impact of devaluation of several currencies against the US dollar, loans and deposits grew by 2% & 5%, respectively.

Mr. Sabih Masri, Chairman of the Board of Directors, stated that the solid financial performance during the first six months underscores the resilience of the bank’s diversified business model that is based on prudent risk management practices and focused on achieving sustainable growth. Mr. Masri emphasized on the bank’s commitment towards the execution of its innovation and digital transformation strategy to deliver the best banking experience to our clients.

Ms. Randa Sadik, Chief Executive Officer, stated that the strong financial results despite the volatility in the operating environment is a testament to the bank’s robust assets base and strong capitalization. Ms. Sadik highlighted that the bank’s net operating income grew by 50% driven by diversified core banking activities coupled with controlled operating expenses. Provisions held during the period reflect the bank’s prudent risk management strategy against the increased economic uncertainty witnessed globally and regionally.

Ms. Sadik added that the bank is well positioned for sustained earnings growth with the support of its solid financial position, strong capitalization, and high liquidity levels. The Group’s loan-to-deposit ratio stood at 74.7% and credit provisions held against non-performing loans continue to exceed 100%. Arab Bank Group maintains a strong capital base that is predominantly composed of common equity with a capital adequacy ratio of 16.8%.

In line with the bank’s commitment towards sustainability, Arab Bank recently released its 13^th annual sustainability report featuring its achievements during 2022 on the environmental, social, and governance (ESG) fronts.

Arab Bank was named the “Best Bank in the Middle East for 2023” by Global Finance magazine for the eighth consecutive year. The bank also received the “Best ESG Integration in Jordan” award from The Arab Federation of Capital Markets in collaboration with the Global Economics Magazine.

As part of the ongoing collaboration between Arab Bank and Tkiyet Um Ali, the bank continued its support to Tkiyet Um Ali’s programs that aim to alleviate the burdens of underprivileged families. A group of Arab Bank employees participated in various initiatives in Amman, Irbid, and Zaqra as part of TUA’s programs for supporting families that live below the poverty line in Jordan.

Tkiyet Um Ali provided the opportunity for the bank’s employees to participate in field visits assessment and help the social research team during their visits to families, evaluating their living conditions and circumstances. This helped in selecting eligible families to benefit from TUA’s programs. The bank’s employees were also involved in the process of distributing monthly food parcels to TUA’s beneficiaries, including registration and delivery.

Tkiyet Um Ali provides monthly sustainable food support to 20,000 underprivileged families living in extreme poverty in all provinces and governorates across the Kingdom. The families receive monthly parcels containing 19 food items that include all the basic nutritional elements, which fulfill the needs of a family for the entire month.

It is worth mentioning that Arab Bank’s social responsibility program “Together” has been supporting community initiatives since its launch. The program also allows customers to donate to several NGOs through Arab Bank’s electronic channels that include ATMs, internet banking as well as “Together” Platinum Credit Card.

Arab Bank was recently the golden sponsor for the second edition of the women’s race, which was held at Hada'eq Al Hussein and organized by the Jordanian Marathon Association “Run Jordan” under the slogan “Run for you”. The marathon aimed to highlight women and their achievements, while encouraging females of all ages and fitness levels to engage in various sports activities, especially running.

The marathon, which consisted of two categories (2.6 km and 5.2 km), witnessed great competition with the participation of around 1,000 females from different age groups, in addition to a special category for visually impaired participants. The event also supported several charity organizations by hosting a bazaar for women-led projects at the finish line. This provided the opportunity for women to showcase their handicrafts, homemade food, and promote and sell their products.

Ms. Lina Kurd, General Manager at Run Jordan, expressed her gratitude for Arab Bank’s support of this race and the ongoing cooperation between Arab Bank and Run Jordan over the past years, reflecting the bank’s trust in the association’s efforts and initiatives.

Arab Bank’s support of this initiative is part of its strategic approach to sustainability and social responsibility, as well as its commitment to contribute to initiatives that support and empower women in various fields, including those related to women's health and their participation in sports activities and various community events. The women's race serves as an effective platform for women in sports, which aims at raising awareness on the importance of sports and following a healthy lifestyle.

Arab Bank and Al-Aman Fund for the Future of Orphans have recently renewed their cooperation agreement for the thirteenth consecutive year. The agreement aims at empowering the orphans and helping them to become self-dependent and productive members of society through various care programs.

Arab Bank’s long-term support of the Fund included funding a total of 86 university students of various specialties across the Kingdom's governorates and offering its customers the ability to donate through the bank’s digital channels or cash deposit in the fund’s account, thus contributing to the successful completion of their university education.

Through the renewal of the cooperation agreement, 30 beneficiaries will continue their education, including those who will be newly enrolled in school along with other current students.  This is in addition to offering training and career opportunities for graduates. 

Commenting on the renewal of the agreement, Ms. Noor Homoud, the General Manager of Al-Aman Fund, reaffirmed the long-term cooperation between both parties, and the impact it has on the students, their extended families, and their community. It also reflects the great importance Arab Bank places on supporting the youth’s education as part of its social responsibility and substantial contributions to national development.

In turn, a student beneficiary of the bank’s support, said: “After four years of training and volunteering in various civil society organizations and with the Fund, I can now offer the skills, experience and knowledge I have gained to other young men and women in society following my graduation.”

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

The Arab Federation of Capital Markets in collaboration with the Global Economics Magazine has awarded Arab Bank “Best ESG Integration” in Jordan for 2022. The award was presented during the annual conference of the Arab Federation of Capital Markets hosted recently by the Sultanate of Oman, represented by the Muscat Stock Exchange.

Arab Bank was selected by the magazine’s a specialized judging panel, which collected and analyzed the data, then evaluated the results. The criteria for selection included: ESG framework and standards, key performances towards best ESG practices, Initiatives undertaken, and demonstration of importance given to achieve the required standard for sustainability.

This recognition complements Arab Bank’s significant success record and comes as a result of its constant efforts on the ESG front, reflecting the bank’s commitment to adopting sustainable practices that contribute to making a positive impact on the different communities in which the bank operates in.

It is worth mentioning that Arab Bank was the first bank in Jordan to establish a Sustainable Finance Framework, which aims to support the bank’s sustainability commitments and environmental, social and governance (“ESG”) priorities. Arab Bank was also one of the first financial institutions, locally and regionally, to issue sustainability reports annually based on international standards and in line with the best practices in this respect.

Arab Bank concluded its "World Elite" Mastercard promotional campaign, granting winners all-expense-covered trips to attend the 76^th edition of the Cannes Film Festival in 2023.

Commenting on this campaign, Mr. Yacoub Matouk, Head of Consumer Banking at Arab Bank – Jordan, said: “We congratulate the winners of our 76^th edition Festival de Cannes campaign, which was launched in collaboration with Mastercard as part of Arab Bank’s efforts to continuously reward its customers and provide them with unique offers and campaigns.” He added: “We continue to reward our customers for their loyalty by providing exclusive services and campaigns that offer added value, leisure and privacy to our customers in line with their lifestyle and seasonal needs.”   

For her part, Cynthia El Khoury, Country Manager Levant and Iraq at Mastercard, stated: “For more than 25 years, Mastercard has been connecting people to their passions through our priceless platform. Building on our strong legacy and our partnership with Festival de Cannes, we are proud to partner with Arab Bank, one of Jordan’s leading banks, to bring this once-in-a-lifetime experience to our cardholders.”

The Mastercard” World Elite” by Arab Bank has set new standards in the world of luxury credit cards through its unique offering, services and exceptional offers, to guarantee ultimate levels of luxury. These services include a 24/7 Global Concierge to provide travel assistance, access to over 1,200 airport lounges worldwide, exclusive memberships across global loyalty programs, in addition to the highest levels of security and safety while shopping and traveling, and many more discounts and offers.

Arab Bank was recently the strategic sponsor of the “Governance, Risk, and Compliance” (GRC) forum, which was held at the InterContinental Hotel in Amman under the patronage of the H.E. Governor of the Central Bank of Jordan, Dr. Adel Sharkas, who delivered a speech at the opening ceremony . The forum was organized by the Union of Arab Banks (UAB) in cooperation with the Central Bank of Jordan and the Association of Banks in Jordan. Attended by a large number of bankers, economists, business representatives and experts from Jordan and the region, the forum aimed to shed light on key topics in this field and promote a culture of sound governance across the banking sector.

The two-day forum included a series of in-depth panel discussions led by central and commercial banks. The sessions covered topics related to the principles of governance in accordance with OECD/G20 standards, enhancing the link between governance, risk, and compliance (GRC), trends in financial risk management, the realities of regulatory compliance and reporting, global economic sanction programs, and the future of the banking industry post the financial crisis era. Additionally, a session was hosted on the Central Bank of Jordan’s governance support program. The forum’s speaker list included leaders in compliance, risk management, and experts and analysts in this field. 

Arab Bank's strategic sponsorship of this forum comes as part of its constant commitment to supporting banking conferences and events, as well as keeping abreast of the latest policies, laws and legislations related to risk management and compliance, following the best practices and recommendations in this field. 

Arab Bank has recently released its annual Environmental, Social, and Governance (ESG) Report for the year 2022. The Report comes as part of the bank’s commitment to issuing annual sustainability reports in compliance with the regulations and reporting guidelines set by the Amman Stock Exchange.

Arab Bank’s 13th Annual Sustainability Report, featuring its achievements during 2022 on the environmental, social, and governance (ESG) fronts, comes in alignment with the bank’s sustainability strategy and follows global best practices in the field. The Report also highlights the bank’s ongoing efforts and contributions towards realizing the United Nations Sustainable Development Goals (SDGs).

The Report covers the sustainable financing framework launched by Arab Bank and its environmental and social risk policy, which are part of the bank’s approach to integrating environmental, social, and governance standards into its operations. It also highlights the bank’s efforts in promoting responsible financing and investment towards the transition to a low-carbon economy through financing green infrastructure projects and providing financing solutions that contribute to a more sustainable future.  

The Report additionally presents the bank’s efforts to reduce the environmental impact of its internal operations by adopting sustainable practices within the institution. This includes digital transformation, human capital development, and gender equality as demonstrated in the bank’s Women Empowerment Strategic Framework, which was launched in 2022.

The Report also illustrates the bank’s CSR initiatives aimed at supporting the local community while achieving sustainable development through various community investments, employee volunteering contributions, and customer donations enabled through several channels. This comes in line with the bank’s commitment to its social responsibility and embodies the values of responsible citizenship and community participation.

The ESG Report has been prepared in accordance with the Global Reporting Initiative (GRI) Standards, which were used to review the content index - an essential service to ensure the index is in alignment with the global standards.

Arab Bank’s 2022 ESG Report can be viewed here

Arab Bank and INJAZ have recently signed a joint cooperation agreement to implement a first of its kind CSR and sustainability training program launched by INJAZ for school students.

The program, which will be implemented during the academic year 2023-2024 in twenty schools across various governorates in the kingdom, comes as part of a strategic partnership with the Ministry of Education. It aims to enable the students to adopt thinking methods and methodologies that will help them develop innovative solutions for challenges faced by society, provide support to different segments of the local community and deal with social issues in a way that contributes to enhancing the national belonging among the members of the community.

Through the program, the students will be introduced to the concepts of social and environmental development and directed toward contributing to these efforts. It will also enhance their understanding of social responsibility as a fundamental pillar of sustainable development in society, utilizing computer apps, the Internet, and other available technologies. The program will also address the concept of community initiatives through partnerships with government and private sector institutions, and coordination with relevant parties. Additionally, the program will provide tools to enhance the students' awareness and engagement in initiatives and activities related to environmental protection and preservation and encourage them to adopt practices aimed at positively impacting individuals and groups.

Commenting on this initiative, Executive Director at INJAZ, Ms. Deema Bibi expressed the importance of the collaboration between Arab Bank and INJAZ, which comes within the need to adapt to the different advancements that the world is witnessing in the field of community service, and sustainability. She also stressed the importance of the youth, their role, and their capabilities development in this area as an essential part of their future paths.

Bibi also stated that the program will contribute to enhancing the youth’s national belonging by investing in their capabilities and encouraging them to engage with existing social issues. She concluded by reaffirming INJAZ’s commitment to enabling the youth and preparing them for the labor market, which is considered a shared responsibility between all active sectors of society.

Arab Bank’s support of this program comes as part of its constant commitment to empower the youth and build their capacity by providing them with the knowledge and skills required to contribute to sustainable development in light of the accelerated developments that the world is currently witnessing.

Arab Bank has recently received the “Best Bank in the Middle East 2023” award by New York-based international publication “Global Finance”, for the eighth consecutive year.

This global recognition was made by the editors of Global Finance after extensive consultations with corporate financial executives, banking consultants, and analysts throughout the world. In selecting top banks, Global Finance considered several factors that included: growth in assets, profitability, geographic reach, strategic relationships, new business development, and innovation in products.

Global Finance Awards cover more than 150 countries and jurisdictions across Africa, Asia-Pacific, the Caribbean, Central America, Central and Eastern Europe, Latin America, the Middle East, North America, and Western Europe. 

Commenting on this recognition, Ms. Randa Sadik, Arab Bank’s Chief Executive Officer, said: "We are proud to receive this global recognition for the eighth consecutive year. It is a true testament to the sustainable growth of our operations and the solid performance of our regional network across the MENA region." Ms. Sadik added: “We are committed to providing comprehensive banking solutions that cater to the diverse needs of our customers across various sectors, locally, regionally, and globally. Aligned with our vision to maintain a leading position and to enrich our customers' banking experience, we will continue to embrace the latest technological advancements and contribute to driving sustainable economic, social, and environmental development in line with our strategy and ambitious future vision."

It is worth mentioning that Arab Bank, headquartered in Amman - Jordan, was established in 1930 and has one of the largest global Arab banking networks with over 600 branches spanning over five continents. Arab Bank’s extensive network covers key financial markets and centers such as London, Singapore, Shanghai, Geneva, Paris, Frankfurt, Sydney, Dubai, and Bahrain.

In collaboration with Visa, a world leader in digital payments, Arab Bank launched its new money transfer service, Visa Direct. The new service is a cross-border money transfer service that allows Arab Bank customers to transfer money from their bank accounts to eligible Visa debit, credit or prepaid card abroad via their Arabi Mobile, thus becoming the first bank to launch Visa Direct service in Jordan and third in the Middle East.  

The Visa Direct service leverages Arab Bank's successful digital banking platform and Visa's extensive global reach to provide an innovative approach to global payments convenience.
This service will be offered to select countries initially listed on the Arab Bank website with more countries included on a regular basis.

Mr. Yacoub Matouk, Head of Consumer Banking at Arab Bank - Jordan, said: “The Visa Direct service is a great addition to Arab Bank's money transfer offerings, allowing Arab Bank customers to send money instantly at any time via our mobile banking platform”. He added: “This service will not only revolutionize money transfers for senders, but also improve convenience for recipients.
Visa Direct is a simple, fast, secure way for individuals to transfer funds directly to eligible Visa debit, credit, and prepaid accounts. We are very excited to launch Visa Direct to consumers in Jordan as part of our constant efforts to meet our customers' expectations. This new product reflects our commitment to replacing cash by providing innovative payment solutions”.

Mr. Mario Makary, Country Manager for the Levant cluster at Visa added: “Visa is excited to have Arab Bank as one of our first partners in the North Africa, Levant and Pakistan (NALP) region to roll out a best-in-class international money movement solution. With Visa Direct’s cross border capabilities, Arab Bank customers will be able to access, move and use their money and connect with over three billion cards globally, without compromising on accessibility and security. We strongly believe that this collaboration will create better user experiences by making it easier for Arab Bank customers to access, move and use their money within a secure digital banking platform”.

Arab Bank was the diamond sponsor of the 4^th International Conference for French-Speaking Business Owners entitled “Jordan: The Land of Promising Opportunities for International Investors". The conference was held at the Dead Sea under the patronage of His Majesty King Abdullah II and was organized by the Jordanian Businessmen Association (JBA) in collaboration with a group of French-speaking businessmen.

The conference witnessed the participation of 200 businessmen, investors, economic analysts and experts within the different fields from Jordan and abroad, in addition to a number of local, regional and global companies.

The conference, which was held over two days, offered a unique opportunity to enhance trade and investment cooperation between French-speaking companies and institutions, as well as countries in the MENA region. It highlighted a wide range of topics related to various economic sectors, including agriculture, tourism, food industries, textiles, chemicals, construction, education, technology, and more. The conference also provided the opportunity for participants to connect and exchange ideas with prominent businesspeople and investors from different industries and foster mutual partnerships that benefit all parties involved.

Arab Bank’s sponsorship of this conference comes as part of its constant commitment towards supporting economic conferences and initiatives aimed at enhancing the Kingdom’s position as a key investment destination in the region and focusing on the development of vital business sectors, which contribute to sustainable economic development.

LinkedIn has recently awarded Arab Bank the "Best Talent Acquisition Team” award in the Middle East and North Africa. This recognition is presented to companies that lead the future of business by demonstrating notable adaptability, innovation and creativity through data related to their utilization of LinkedIn Talent Solutions, which assist recruiting teams in searching for and engaging with qualified talent.

Arab Bank was selected for this award based on a comprehensive methodology that involved data analysis conducted by LinkedIn's insights team. The analysis examined each company's utilization and engagement data to assess their ability to leverage the platform's solutions and make a significant impact on their organization. The selection process also included a set of criteria to evaluate the effectiveness of talent acquisition teams on the platform.

Ali Matar, Head of LinkedIn MENA and EMEA Growth Markets, said: "The business sector continues to evolve and witness new trends. Recruitment experts, in particular, recognize the need to adapt to these recent trends and their impact on the development of business operations. To celebrate these achievements, we have awarded the “Best Talent Acquisition Team” award to business leaders who have proven their ability to adapt to all developments and embrace new ways of working."

Arab Bank headquartered in Amman, Jordan has one of the largest global Arab banking networks with over 600 branches spanning five continents. The bank’s extensive network covers key financial markets and centers such as London, Singapore, Shanghai, Geneva, Paris, Frankfurt, Sydney, Dubai and Bahrain.

For the sixth consecutive year, the Royal Health Awareness Society (RHAS) continues its collaboration with Arab Bank in implementing its Healthy Schools Program. Through several health standards that the participating schools are trained to implement, the initiative included 28 schools supported by Arab Bank throughout the 2022 – 2023 school year, including six new schools to the program. This collaboration comes as part of Arab Bank’s community initiatives and within its social responsibility program “Together”, as well as its belief in the vital role undertaken by the RHAS in raising health awareness and contributing to the reduction in disease rates and complications, especially non-communicable diseases, towards a health-conscious and educated future society.

The Healthy Schools Program is implemented through a number of health standards that participating schools are trained to implement, under the supervision of the Ministry of Health and the Ministry of Education to ensure the program’s long-term sustainability. These health standards aim to promote health awareness and education around healthy practices, improve infrastructure, and empower students, employees, parents, and the surrounding community to make more health-conscious choices and maintain their health. The standards have been developed and defined by the RHAS in partnership with the World Health Organization (WHO), UNICEF, Johns Hopkins University, family health communication partners, the Ministry of Education, and the Ministry of Health.

Arab Bank, in collaboration with the RHAS, has also supported the School Mental Health Program established by the World Health Organization in 12 schools during the academic years 2021-2022 and 2022-2023. The program provides a unique opportunity to equip non-specialized teaching staff with sufficient training, information, and the necessary tools to identify and deal with mental health issues within their schools. The Healthy Schools Program prioritizes mental health and dedicates a whole section within the program to ensure the activation of counseling and mental health services within the school.

The Royal Health Awareness Society (RHAS) was established under the direction of Her Majesty Queen Rania Al-Abdullah to promote health and empower Jordanians to adopt healthy lifestyles and behaviors. RHAS’ community-based projects are implemented in accordance with the needs of the communities and revolve around national health priorities.

Arab Bank’s support of this program is part of its strategic approach to sustainability and role in collaborating with several NGOs to achieve economic, social and environmental sustainable development. “Together”, Arab Bank’s corporate social responsibility program, is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in health, poverty alleviation, environmental protection, education and orphan support. 

Arab Bank renewed its sponsorship agreement with Jordan Football Association (JFA) for the 12^th consecutive year, thus becoming the official bank of JFA, “Al-Nashama” team, and the 2023/2024 season pro leagues.

The sponsorship comes as part of Arab Bank’s constant commitment towards supporting the youth and the football sport, considering its popularity in Jordan and internationally. The bank’s financial support will be directed to pro leagues while sponsoring “Al-Nashama” team as it prepares for the AFC Asian Cup finals at the beginning of the coming year, coinciding with the start of the FIFA World Cup 2026 qualifiers.

The Secretary General of JFA, Samar Nassar, expressed the gratitude of His Royal Highness Prince Ali Bin Al-Hussein, Head of the JFA Executive body, to Arab Bank for its continuous support and contribution to the sport since 2011. She added: “We take pride in Arab Bank for its commitment to the local sports community, setting a true example for the private sector and a source of pride for the Jordanian football family.”

Over the years, Arab Bank has been an active supporter of JFA through its sponsorship of pro league tournaments and “Al Nashama” team, thus reaffirming the continued cooperation between both parties that has a positive impact on the local teams and football clubs.

Coinciding with World Traffic Day and Arab Traffic Week, Arab Bank continued its support to the “My School is My Joy” campaign as part of its constant commitment towards supporting and serving the local communities. The campaign, which was launched in coordination with the Central Traffic Department, aimed to enhance the roads’ safety and raise the students ’ awareness and knowledge of important traffic rules such as proper ways to cross the street and avoid dangerous situations on the roads.

The "My School is My Joy" campaign targets 60,000 students from various schools across the Kingdom and aims to reduce pedestrian accidents by constantly and effectively guiding the students. The initiative is carried out by hosting several educational workshops and interactive sessions, along with distributing a booklet under the same campaign tagline. 30,000 copies of the booklet were offered to the students along with awareness material that provided them with a range of road instructions, which are easy to understand and follow through dialogue stories that attract the students’ attention.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, and orphan support.

Arab Bank was recently awarded “Middle East’s Best Corporate Social Responsibility program 2022” by EMEA Finance Magazine. The award was presented in recognition of the Bank’s achievements in the implementation of its sustainability strategy. 

This global recognition comes as a result of the bank’s comprehensive strategic approach to sustainability and corporate social responsibility, as well as its community programs that contribute to making a positive and sustainable impact on the different communities in which the bank operates in. Arab Bank works closely with several stakeholders to achieve sustainable economic, social and environmental development.  

It is worth mentioning that Arab Bank was the first bank in Jordan to establish a Sustainable Finance Framework, which aims to support the bank’s sustainability commitments and environmental, social and governance (“ESG”) priorities. Arab Bank was also one of the first financial institutions, locally and regionally, to issue sustainability reports annually based on the international standards and in line with the best practices in this respect.

As part of its ongoing support for the Community Outreach program at the Children's Museum Jordan, Arab Bank has supported the “Water Month” event recently held by the museum for children. The Community Outreach program, launched by the Children’s Museum Jordan in 2012, aims to increase children's awareness on important global and local issues, and enhance their understanding of their role in the community and the world.

The "Water Month" activities were held under the slogan "Drop by Drop" as part of a diverse program that focused on the issue of water scarcity in Jordan. The program aimed to instill a sense of responsibility in the children for their role in conserving water consumption and contributing to creating a water secure future in Jordan.

This year, more than 18,000 visitors, including children and their families, benefited from “Water Month” program at the Children's Museum Jordan, and participated in the various activities that helped increase their awareness levels on the issue of water scarcity and ways to combat its effects.

Arab Bank’s support comes within the framework of its Social Responsibility Program, which focuses on several areas related to citizenship and social responsibility. Arab Bank continuously seeks to collaborate with the Children’s Museum as part of its vision in achieving social solidarity and supporting children through various initiatives and awareness programs related to them.

In collaboration with the Charity Clothing Bank; one of Jordan Hashemite Charity Organizations (JHCO), Arab Bank has recently sponsored the Eid Program, through which clothes, toys and gifts were provided to the children along with Iftar meals in a joyful atmosphere and with participation of Arab Bank employees.

The program comes as part of Arab Bank’s continued cooperation of over seven years with the Charity Clothing Bank, and in line with the bank’s future vision and corporate social responsibility that sustained the Clothing Bank’s efforts in hosting over 1,200 orphaned children from around the Kingdom each year.

Secretary General of JHCO, H.E. Dr. Hussein Al-Shebli expressed his gratitude for this cooperation and appreciation for Arab Bank’s continuous support of the Charity Clothing Bank, particularly the programs that benefit orphaned children and leave a positive impact on them and their mothers.

The Charity Clothing Bank, since its establishment in 2013, has provided aid to underprivileged families through different initiatives held at the Clothing Bank’s showrooms in Amman and Al-Karak. This is in addition to its mobile showrooms’ activity, held regularly across other governorates, with over 1,800,000 beneficiaries and more than 7,000,000 distributed clothing pieces to date.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, and orphan support.

Arab Bank Group reported solid results for the first quarter 2023, with 30% increase in net income after tax reaching $216 million as compared to $166 million for the same period last year.

The Group maintained its strong capital base with a total equity of $10.4 billion. Loans grew to $35.4 billion and deposits reached $47.7 billion. Excluding the impact of devaluation of several currencies against the US dollar, loans and deposits grew by 3% & 4%, respectively.

Mr. Sabih Masri, Chairman of the Board of Directors, stated that Arab Bank’s first quarter 2023 performance was strong despite the challenging environment for banks globally and regionally. He also added that the results reflect the bank’s resilience and ability to deliver sustainable growth. Mr. Masri commented that the bank remains committed towards serving customers’ evolving needs, and continuing to invest in innovation and digital transformation.

Ms. Randa Sadik, Chief Executive Officer, stated that Arab Bank continued to deliver sustainable growth rates during 2023 despite the continued elevated inflation & interest rates. Ms. Sadik commented that the bank’s net operating profit grew by 50% driven by the growth in revenues from its core banking business as well as disciplined control of operating costs, where provisions held during the period reflect the bank’s prudent strategy against the increased economic uncertainty witnessed globally and regionally.

Ms. Sadik added that the Group’s liquidity and asset quality remains solid where loan-to-deposit ratio stood at 74.1% and credit provisions held against non-performing loans continue to exceed 100%. Arab Bank Group maintains a strong capital base that is predominantly composed of common equity with a capital adequacy ratio of 16.8%.

Ms. Sadik also highlighted Arab Bank’s commitment towards innovation and digital transformation through expanding digital banking services and solutions inline with the latest trends and developments. She also noted that the bank is offering initiatives for FinTech entrepreneurs to present their ideas to develop them into innovative FinTech solutions and products.

Arab Bank, in collaboration with the Jordan River Foundation (JRF), hosted Ramadan iftars for 100 children at  Queen Rania Family and Child Center in Jabal Al Naser. The iftars were held as part of the JRF’s initiatives for family and child protection, which aim to reach the largest number of beneficiaries.

A group of Arab Bank employees volunteered in the initiatives, which included several interactive artistic and sports activities with the children to increase their awareness and knowledge around key concepts related to child protection. The activities included the “Small House” program, the “Salhouf” puppet show, and other interactive programs.

The Queen Rania Center for Family and Child was established by the Jordan River Foundation in 2005 with the aim of enhancing social, economic, educational, and environmental areas related to child wellbeing. The center adopts a holistic model of services that aims to integrate cultural, societal and familial aspects to secure financial support for children and their protection in partnership with the local communities and JRF partners.  

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, and orphan support.

Arab Bank has recently launched its remote cheque deposit service through the bank’s e-platform for corporate clients “Arabi Connect”, thus becoming the first bank in the Kingdom to introduce this service to corporates. The launch of the new service comes as part of Arab Bank’s constant efforts to enhance its banking services and keep pace with the requirements of the business sector within the highest levels of efficiency.

Through the new service, Arab Bank offers its corporate clients the ability to submit and deposit cheques remotely using the scanning technology on specialized optical devices. The cheques can then be submitted electronically using the “Arabi Connect” platform to be audited and sent for collection through the ECC service.  The service includes both cheques drawn on Arab Bank customers in Jordan, as well as cheques drawn on other local banks, noting that the original cheque must be physically submitted to Arab Bank on the next business day through the bank’s approved carrier partner.

The new service saves time and effort, guarantees speed in cheque collection, and facilitates the follow-up and verification processes for customers. The service also provides an integrated digital process that enables customers to track the status of their cheques, verify due dates, generate necessary reports and statements, in addition to extracting copies of the cheques without the need to visit the bank.

Commenting on the launch of this service, Mr. Walid Samhouri, Country Manager at Arab Bank – Jordan, said: “Launching this new service, the first of its kind in Jordan, reflects Arab Bank’s leading role in adopting the latest technologies in the banking industry to enhance its corporate customers’ experience in line with the needs of this vital sector.” He added: “The remote cheque deposit service with its simple and fast steps is a value-added addition to the host of digital services provided by Arab Bank through its “Arabi Connect” platform. It offers customers an advanced banking experience that saves time and effort and allows them to deposit cheques without the need to visit the branch.”

It is worth mentioning that the “Arabi Connect” platform offers a host of privileges designed specifically to provide Arab Bank’s corporate customers with flexibility and ease to carry out their banking transactions around the clock from anywhere. The platform offers many benefits including direct access to accounts, local and cross-border account management and reporting, cash and liquidity management, and much more. “Arabi Connect” platform is a leading digital solution offered to corporate customers in line with the latest advancements in the banking industry. 

Arab Bank has recently offered its support to charity iftars held at the Children’s Museum Jordan for a group of children in coordination with a number of charity organizations and orphan homes.

Arab Bank’s support comes within the framework of its Social Responsibility Program, which focuses on several areas related to citizenship and social responsibility. Arab Bank continuously seeks to collaborate with the Children’s Museum as part of its vision in achieving social solidarity and supporting children through various initiatives and awareness programs related to them.

A team of Arab Bank volunteers participated in organizing the iftars, where the activities included an integrated experience for children amid Ramadan decorations and an entertaining and interactive atmosphere allowing them to explore and learn inside the spacious exhibition hall that entails over 190 interactive exhibits and models. The charity iftar program sponsored by Arab Bank also included a special “Hakawati” show presenting engaging tales and stories to children in an interesting manner, followed by breakfast that brought together both children and the bank employees, who in turn gave beautiful and memorable gifts to each child at the end of the event.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, and orphan support.

As part of its social responsibility and commitment towards supporting underprivileged families, Arab Bank has recently renewed its cooperation agreement with Tkiyet Um Ali (TUA) for the 16^th consecutive year, with the aim of supporting TUA’s families living below the food poverty line across all governorates in the Kingdom.

Through this agreement, Arab Bank will support 102 of TUA’s underprivileged beneficiary families over the course of a year, providing monthly food parcels including all the basic nutritional elements, which fulfill the needs of a family and are sufficient to prepare three meals per day throughout the entire month.

Tkiyet Um Ali will also provide the opportunity for Arab Bank employees to volunteer in its different programs across the Kingdom. This is in addition to sponsoring a full day of TUA’s “Mawa’ed Al Rahman” initiative, held during Ramadan at its headquarters in Amman.

Expressing his gratitude for Arab Bank’s continuous support, Director General at Tkiyet Um Ali, Mr. Samer Balkar, stated: “We take pride in our strategic cooperation with Arab Bank for the 15^th year in a row, which reflects the bank’s commitment towards the underprivileged  families in Jordan and its strategic role in combating hunger.”

Balkar added: “By working closely with private and public sector institutions, Tkiyet Um Ali will be able to provide sustainable food aid to those in need.” 

Tkiyet Um Ali is a non-governmental and non-profit organization established in 2003 with the aim of eradicating hunger. The organization currently provides sustainable food and health aid to 20,000 underprivileged families living below the food poverty line across all governorates of the kingdom through distributing monthly food parcels around the year, containing 19 food items that suffice a family’s nutritional needs for an entire month.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve economic, social and environmental sustainable development. “Together”, Arab Bank’s corporate social responsibility program, is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in health, poverty alleviation, environmental protection, education and orphan support.

Arab Bank continued its support to the lighting initiative launched by Amman Chamber of Commerce in cooperation with the Greater Amman Municipality to light up and decorate the streets of downtown Amman and a number of commercial, touristic and heritage sites throughout the holy month of Ramadan, and Eid Al-Fitr.

Arab Bank’s support of this activity, for the ninth consecutive year, comes as part of its continued efforts to sponsor initiatives aimed at encouraging domestic tourism and increasing the footfall of downtown Amman, given that its one of the main economic and commercial centers in Amman. The initiative also aims to highlight the beauty of the capital to attract families and tourists to visit and enjoy the holy month and Eid spirit.

The President of Amman Chamber of Commerce, Khalil ElHaj Tawfiq, said: “Our annual collaboration with Arab Bank to light the streets aims to encourage domestic tourism in Amman and promote commercial footfall in celebration of the holy month.”

ElHaj Tawfiq added that the streets in Amman were decorated to create an atmosphere of joy and pleasure in preparation for the holy month and the summer season. He also highlighted that the past lightening initiatives in commercial and vital areas had the greatest impact on the hearts of citizens and guests of Jordan, which reflected positively on the commercial activity. He said that the chamber seeks to stimulate commercial markets, facilitate commercial movement and enable citizens to shop in an atmosphere of joy and pleasure.

The initiative, which will last until Eid Al-Fitr, entails the lighting of several vital areas, including the Grand Husseini Mosque square, one of Amman’s most popular heritage sites, giving it an aesthetic feel in line with the vibes of the month. This is in addition to areas around downtown Amman and Jabal Al-Hussein, including King Faisal Street, Basman Street, Sukainah Circle, Firas Circle, among other locations.

Arab Bank extended its support to the “Ramadan Bil Khair Ghair 2023” initiative, conducted by the Jordan Hashemite Charity Organization (JHCO), with the aim of distributing iftar meals to 2,000 underprivileged beneficiaries in Amman.

Arab Bank’s support of this initiative comes as part of its social responsibility program. A team of the bank’s employees volunteered to prepare and package meals, as well as deliver them to the families’ homes, where they can gather together for iftar.

Secretary General of JHCO, Dr. Hussein Shibli, said: “Arab Bank is one of our strategic supporters and contributes to supporting many of the programs we implement. The bank was one of the first parties that contributed to “Ramadan Bil Khair Ghair 2023” initiative and we value its supporting role throughout the year.”

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, and orphan support.

Arab Bank held its general assembly meeting online on March 30^th, 2023. The meeting was headed by Mr. Sabih Masri, Arab Bank’s Chairman in the presence of the board of directors, the Chief Executive Officer, and shareholders (in attendance and by proxy), which make up 77.97% of the bank’s capital. Dr. Wael Armouti, the Companies’ Controller had also attended the meeting along with representatives from the Central Bank of Jordan.

During the meeting, the recommendation by the Board of Directors to distribute a cash dividend of 25% for the year 2022 and all articles on the agenda were endorsed.

Mr. Masri, Chairman of the Board of Directors, highlighted that the global economy faced several challenges in 2022. Global growth slowed down noticeably. At the same time, inflationary momentum built up, spreading globally and reaching high levels in advanced and other countries that were unprecedented in four decades. To slow demand and contain inflation, major central banks embarked on raising interest rates at a rapid pace and started tightening their monetary policies. Further, global geopolitical tensions increased in 2022 with the prolonged conflict in Ukraine, and its ramifications including higher energy and food prices and increased risk-off sentiment toward investment particularly in emerging markets, which was another factor for slowing down the global economy. Toward the end of 2022, the global economy had some promising signs of improvement, including the re-opening of the Chinese economy, moderation in the energy prices, and a slowdown in the inflation rates, prompting central banks to reduce the pace of increases in interest rates.

Mr. Masri noted that the growth of the Arab economies improved. This was driven by the full re-opening of economic activities after the retreat of the COVID-19 pandemic, along with a significant increase in the demand for many sectors including services, especially tourism, and mining activities such as oil, gas, and fertilizers. In addition, ongoing structural reforms in several countries contributed to this growth, albeit to varying degrees.

Mr. Masri noted that Arab central banks raised interest rates to contain inflation and support the attractiveness of their currencies. In light of global and regional economic volatility, and with the support of central banks, the Arab banking sector implemented strategies to mitigate the impact of higher interest rates locally, while adopting prudent policies and measures to ensure the quality of the credit portfolio. Broadly speaking, the Arab banking sector has maintained high levels of capital adequacy and enhanced its profitability and liquidity, while relying on a broad and stable funding base.

Mr. Masri also reaffirmed that despite the challenges that the world and the region witnessed in 2022, Arab Bank continued to achieve positive results through its strategic and institutional focus on utilizing its wide geographical presence and competent business diversity, as well as its own digital transformation strategy to reach strong and sustainable levels of revenue and profits growth. The Group’s operating profits increased by 23% to reach $1.35 billion, and the bank continued to support its capital base and enhance its key performance indicators.

He also noted that Arab Bank continued its pivotal role in supporting the efforts aimed at developing the economies and societies which it operates in and contributing to achieving sustainable development at the economic, social, and environmental levels, locally and regionally. This role is primarily reflected in the bank’s contribution to supporting and financing strategic projects across various vital sectors, financing international trade, supporting start-ups and SMEs, and promoting financial inclusion by providing advanced banking services that meet the needs of various sectors and segments. 

In the period ahead, Mr. Masri confirmed that Arab Bank will continue to build on its achievements based on an ambitious future vision and an integrated institutional strategy. Mr. Masri also reaffirmed the Group’s confidence in its ability to consolidate its position as a leading financial institution both locally and regionally, providing the most advanced and innovative banking services and solutions to customers as a trusted banking partner to both the customers and shareholders.

Mr. Masri concluded by thanking the Central Bank of Jordan for its pivotal role in sustaining the resilience and stability of the Jordanian banking system under all circumstances.

Ms. Randa Sadik, CEO of Arab Bank, stated that Arab Bank Group closed 2022 reporting net income after tax of $544.3 million as compared to $314.5 million in 2021. The Group also maintained its solid financial stance with Group equity of $10.4 billion.

Excluding the impact of the devaluation of several currencies against the US dollar, the Group’s loans and deposits grew by 5% to reach $35.4 billion and $ 47.7 billion, respectively, at the end of 2022.

She highlighted that Arab Bank Group continued to deliver sustainable growth rates during 2022 through its branch network and footprint in local and international markets, despite the economic challenges stemming from high inflation, increased interest rates and the devaluation in exchange rates of several currencies against the US dollar. The bank’s net operating profit grew by 23% to reach $1.35 billion, driven by the growth in revenues from its core banking business, its diversified sources of income, with focus on non-interest income, as well as controlling operating expenses in line with the bank’s prudent strategy.

Ms. Sadik also noted that the bank achieved strong performance indicators in line with its business model. The Group’s liquidity and asset quality remains solid where loan-to-deposit ratio stood at 74.2% and credit provisions held against non-performing loans continue to exceed 100%. Arab Bank Group maintains a strong capital base that is predominantly composed of common equity with a capital adequacy ratio of 16.6%, higher than the minimum required by the Central Bank of Jordan according to Basel III regulations.

Ms. Sadik concluded by affirming the bank's digital transformation efforts through its ambitious strategy on this front, noting that during the year the bank launched several digital banking services and solutions across various markets to meet the evolving needs and expectations of the different customer segments, including future generations, in line with the latest trends and developments.

Arab Bank has recently signed a cooperation agreement with Al-Zaytoonah University to issue a smart university card instead of the traditional ID. The card allows students to access various banking services both on and off-campus, in addition to facilitating their entry through the university's electronic gates. The agreement was signed by Dr. Mohammed Al-Majali, President of Al-Zaytoonah University, and Mr. Walid Samhouri, Arab Bank - Jordan Country Head.

The smart university card provides many other services and benefits, including tuition fees payment and point of sale transactions within and outside the university campus, as well as ATM cash withdrawal and deposit services. Additionally, the students can also benefit from exclusive discounts when using their cards to shop at a wide network of merchants that cater to their needs.

Commenting on this cooperation, Dr. Al-Majali stated that the agreement comes as part of renewing confidence in Arab Bank and strengthening bilateral cooperation between the two parties, represented by the presence of an on-campus branch of the bank, which provides many banking services to students and faculty members. He also noted that the cooperation is in line with the university’s vision and strategy, which encourage sustainable partnerships among the public and private sectors.

For his part, Mr. Al-Samhouri expressed his pride in the collaboration with Al-Zaytoonah University through this agreement, which reflects the bank's keenness to meet the needs of various segments in the society, particularly the youth. Arab Bank continuously seeks to provide the best banking services and products in line with the expectations and lifestyle of this segment.

It is worth mentioning that “Shabab” program provides a host of comprehensive banking and non-banking privileges designed especially for youth between the ages of 18-25 years. The program also provides them with a host of comprehensive digital banking services, which enables them to conduct transactions easily from anywhere around the clock. These services include: the bank’s online banking service “Arabi Online”, “Arabi Mobile” app, ATM and ITM services, in addition to credit cards, the “Buy Now, Pay Later” feature, and innovative payment solutions such as “Apple Pay” and “Arabi MobiCash”.

Arab Bank has recently provided its support to the Women’s Economic Empowerment project in collaboration with “Dar Abu Abdullah”. The support comes as part of the bank’s constant efforts in enabling underprivileged families and empowering women to sustain their families’ livelihoods, thus contributing to achieving sustainable development.

Through its support, Arab Bank will empower 10 women beneficiaries from “Dar Abu Abdullah” through financing five greenhouses that operate on hydroponic technology, after enrolling them in theoretical and practical training programs providing them with the necessary skills to maintain a stable source of income and improve their standard of living.  

Commenting on this support, Mr. Samer Balkar, Dar Abu Abdullah General Manager, said: “We believe in the active collaboration with the private sector and take pride in our strategic collaboration with Arab Bank, which will contribute to changing the lives of these women and their families, in addition to achieving progress on the women economic empowerment front.”  Balkar added: “Dar Abu Abdullah works to support and empower the less fortunate by enrolling them in theoretical and practical trainings that prepare them for the labour market. This is in addition to financing small projects, so our beneficiaries become financially independent and build a better life for themselves and their families.”

Dar Abu Abdullah is a non-governmental and non-profit organization that seeks to empower individuals, enhance their capabilities, and sustain their livelihoods through projects that address the underlying causes of food poverty in Jordan. Named after His Majesty the late King Hussein Bin Talal and chaired by Her Royal Highness Princess Haya Bint Al Hussein, Dar Abu Abdullah was established in an effort to honor His Majesty’s legacy and his belief that the individual represents a nation’s greatest asset.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, and orphan support.

The Royal Society for the Conservation of Nature (RSCN), in collaboration with Arab Bank, has implemented a tree-planting initiative at the Azraq Wetland Reserve, with the participation of Arab Bank employees and their families. The initiative comes as part of Arab Bank’s social responsibility program "Together."

The employees’ participation in the initiative aims at contributing to the different efforts to increase green areas in Jordan, and address the impacts of climate change on biodiversity and its sustainability at the reserve. The initiative included digging and transporting agricultural soil, planting seedlings, irrigation, and land coordination.

Director General of the RSCN, Mr. Fadi Al Naser, stated that the association, in cooperation with Arab Bank, launched this campaign to promote environmental awareness and spread a culture of eco-responsibility in Jordan, which contributes to maintaining a clean and sustainable green environment.

Al Naser also praised Arab Bank’s efforts in supporting this initiative to preserve and protect the environment. He stated that the initiatives carried out by RSCN throughout the year also contribute to the protection of forest wealth through effective and positive community participation. He also emphasized the importance of raising awareness, through such initiatives, on preserving nature and forest wealth from all forms of pollution, depletion, and encroachment.

Azraq wetland Reserve is considered one of the leading reserves in the region and has received several awards, the latest of which was the reserve's win for the "Best Success Story in the World" award announced by the Green Sites Organization program. The reserve was also selected for the award among 100 sustainable sites worldwide at the end of 2022 based on achieving high sustainability standards. In addition, a delegation from the World Institute for Peace announced this month that Azraq Wetland Reserve is a "Peace Park" site for from visitors around the world, in recognition of the efforts of the RSCN and its role in preserving Azraq Wetland Reserve, its natural resources, and developing the local community, as well as many other international awards.

Arab Bank’s support of this initiative is part of its active role in the community through adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection and education.

Arab Bank was the official sponsor of the Tenth International Conference of The Royal Medical Services titled “Global Challenges and Sustainable Development in Health”, which is held at the King Hussein Bin Talal Convention Centre - Dead Sea. Deputizing for His Majesty King Abdullah II, The Supreme Commander of the Armed Forces – Arab Army, His Royal Highness Crown Prince Al Hussein bin Abdullah II inaugurated the conference. Nearly 50 Arab and foreign countries participated in the event with over 200 speakers including scientists, experts, officials and specialists in the medical field.

The conference features specialized seminars on cancer diseases and their advanced treatment, neurological diseases as well as the latest scientific findings in various medical specialties such as general surgery, internal medicine, gynecology and more. This edition of the conference also hosted 50 medical and surgical and medical workshops at the King Hussein Medical Center, which address and treat 200 chronic medical conditions.

Arab Bank's strategic sponsorship of this conference is part of its constant commitment towards supporting initiatives and events aimed at the development of vital areas in the economy and community including those related to the medical sector, which is a main contributor to achieving sustainable development. Additionally, the bank’s support comes in recognition of the instrumental role of the Royal Medical Services adopting the latest developments and trends in the health sector to help improve the health services provided in the Kingdom and reinforce its leading position in this field locally and regionally.

In line with its social responsibility program “Together”, a group of Arab Bank employees and their families recently volunteered to plant 250 forest trees at Al-Faisaliah station in Madaba. The initiative is part of the Madaba forest tree planting project, which was launched by “Himmeh w Lammeh” in collaboration with the Directorate of Agriculture to increase the green space in Madaba with the support of civil society organizations and the private sector.

“Himmeh w Lammeh” initiative, launched in 2019 by a group of women, operates under the umbrella of Jordan Inbound Tour Operators Association (JITOA) - a voluntary non-profit organization that links all the various players in the tourism value chain, with the goal of supporting the growth, sustainability, and adaptability of the Kingdom’s inbound tourism sector.“Himmeh w Lammeh” initiatives focus on raising community awareness on the importance of maintaining cleanliness in Jordan’s tourist and archeological sites, as well as parks, street sides and roads leading to governorates.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, and orphan support.

Arab Bank has recently renewed its support for the “Sunbulah” initiative, implemented by “Al Jude Foundation for Scientific Care” at public schools in collaboration with the Ministry of Education. The initiative aims to instill a culture of creativity among teachers and students, enhance the school environment and address its challenges using innovative solutions, thus achieving a culture of partnership among teachers, students, the school and society.

Arab Bank’s sponsorship of the initiative’s third phase comes as part of its constant efforts in supporting vital initiatives aimed at enhancing the school environment and enabling teachers to spread the culture of social entrepreneurship in collaboration with the local community. 

Managing Partner of Al Jude Foundation, a non-profit organization, Maher Kaddoura, said: “Since its inception, the initiative contributed in enhancing the students and teachers’ self-confidence and developing their skills, which are no longer limited to ideas creation only  but also to on-ground implementation as part of their daily life". Kaddoura affirmed that the initiative has achieved positive results during its first and second phases through the implementation of several educational, environmental, and recreational projects, which reflected the positive knowledge exchange between teachers and students to enhance their school environment. 

Kaddoura highlighted that the initiative aims to reach 1,000 public schools this year, noting that 3,000 teachers across the different public schools in Jordan have been trained since the launch of the third phase, while registration through the website sonbola.org. is still open for public schools.

Kaddoura also expressed his pride in collaborating with Arab Bank as the main sponsor of the initiative throughout its three phases, praising its active role and contribution to achieving the foundation's objectives.

For his part, Dr. Nawwaf Al-Ajarmeh, His Excellency the Secretary General for Educational and Technical Affairs, praised the active partnership between the private and public sectors and its important role in positively impacting the educational environment. He also stressed the importance of such initiatives carried out by teachers and students to bring their project ideas to life.

Arab Bank’s support of this initiative is part of its social responsibility program “Together”, a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, and orphan support.

Arab Bank recently provided its support to Edraak, a massive open online course (MOOC) platform in Arabic established by the Queen Rania Foundation (QRF). The bank’s support will contribute to development of the preparatory content for the Certified Management Accountant (CMA) certification, a globally recognized credential in accounting issued by the Institute of Management Accountants in New Jersey, USA.

The collaboration with Edraak platform comes as part of Arab Bank’s constant efforts to support the education sector, particularly e-learning, and contribute to enabling those who wish to develop their knowledge and professional paths, especially in the field of accounting. The platform provides tools, solutions and specialized educational content that enhances the knowledge around accounting, finance, administrative and analytical concepts using digital means available online.

The new course offers comprehensive knowledge of the CMA exam requirements, which applicants must cover in order to pass the exam. This is in addition to covering topics around cost accounting, preparation of budget estimates, performance measurement, internal control systems, regulatory procedures, corporate governance, financial statements analysis, cost management, supply chain management, budgeting, costing systems and strategic planning.

The course entails six free courses covering accounting and finance related topics over two stages, allowing learners to advance their career paths in accounting.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, and orphan support.

Arab Bank has recently renewed its collaboration agreement with the Charity Clothing Bank, which is part of the Jordan Hashemite Charity Organization (JHCO), for the eighth consecutive year. The agreement aims to provide decent clothing for 1200 orphaned children from across the Kingdom throughout the year.

This cooperation comes as part of Arab Bank’s corporate social responsibility program “Together”, which aims to serve the community in areas related to citizenship and social responsibility. Through its continued collaboration with the Charity Clothing Bank and its vision in achieving social solidarity, Arab Bank seeks to support the community by offering moral and material support to underprivileged segments in the society, including orphaned children through the Charity’s Orphan Day program that provides them with clothing, shoes and toys throughout a special recreation day.

Secretary General of the Jordan Hashemite Charity Organization, Dr. Hussein Al-Shibli, praised Arab Bank’s contribution in achieving the JHCO’s objectives and providing necessary support for orphans, stating: “Our ongoing collaboration with Arab Bank over the past eight years has contributed in implementing many charity initiatives for children, most notably providing over 8400 clothing pieces to orphaned children across the Kingdom, thus alleviating some financial burdens on their families.”

The Charity Clothing Bank, since its establishment in 2013, has served over 1,300,000 beneficiaries and distributed more than 6,000,000 clothing pieces to underprivileged families supported by the National Aid Fund and other NGOs, through initiatives held at the Clothing Bank’s showrooms in Amman and Al-Karak.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, and orphan support.

Arab Bank today brings its customers Apple Pay, a safer, more secure and private way to pay that helps customers avoid handing their payment card to someone else, touching physical buttons or exchanging cash — and uses the power of iPhone to protect every transaction. Bringing the service to Arab Bank’s customers is part of the bank's strategy to continually provide the latest payment solutions and providing a seamless banking experience.

Customers simply hold their iPhone or Apple Watch near a payment terminal to make a contactless payment. Every Apple Pay purchase is secure because it is authenticated with Face ID, Touch ID, or device passcode, as well as a one-time unique dynamic security code. Apple Pay is accepted in grocery stores, pharmacies, restaurants, coffee shops, retail stores, and many more places.

Customers can also use Apple Pay on iPhone, iPad, and Mac to make faster and more convenient purchases in apps or on the web in Safari without having to create accounts or repeatedly type in shipping and billing information.

Security and privacy are at the core of Apple Pay. When customers use a credit or debit card with Apple Pay, the actual card numbers are not stored on the device, nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted, and securely stored in the Secure Element, an industry-standard, certified chip designed to store the payment information safely on the device.

Mr. Yacoub Matouk, Head of Consumer Banking at Arab Bank – Jordan, said: “We always strive to provide our customers with advanced payment solutions that meet their ever-evolving needs.” He added: “Bringing Apple Pay to our customers is yet another value-added benefit to Arabi Mobile app’s digital services, and provides our customers with an easy and secure banking experience that is in line with the latest digital payment technologies.”

Apple Pay is easy to set up. On iPhone, simply open the Wallet app, tap +, and follow the steps to add Arab Bank credit or debit cards. Once a customer adds a card to iPhone, Apple Watch, iPad, and Mac, they can start using Apple Pay on that device right away. Customers will continue to receive all of the rewards and benefits offered by Arab Bank cards.

For more information on Apple Pay, visit (Here) and for more information on activating the service via “Arabi Mobile”, please visit (Link)

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Arab Bank has recently renewed its support to Endeavor’s fellowship program the leap! which aims to empower entrepreneur executives with experience in the labor market, and help them make the transition from employees to entrepreneurs or business owners.  Endeavor announced opening the application doors for the 3^rd cohort of its fellowship encouraging executives with industry knowledge and specialization, and those who have identified a product/service/business model with a viable standalone business potential, to apply to the leap! through the Endeavor Jordan website https://www.endeavorjordan.org/the-leap. Deadline for receiving applications is February 5^th.

The leap! trains program fellows in the art and science of forming a new business through 10 modules that are delivered by credible industry experts, ecosystem players, and successful entrepreneurs and founders. To accommodate working professionals, sessions are held on Wednesday evenings and Saturdays, and preparatory material is shared in advance to enhance discussion, while collateral material is handed out after each session to enrich knowledge.

The pragmatic and practical modules cover product management, business model, the team and corporate culture, marketing and branding, accounting, investor readiness, legal aspects of setting up a business (contractual obligations and taxes), and finally wrapping up the fellowship with a mock pitching session to investors.

It is worth mentioning that the leap! program welcomes qualified employees from all sectors, and encourages women to apply, as they constitute a major pillar of the entrepreneurial ecosystem in the Kingdom. The selection criteria require applicants to have 10+ years of industry experience with executive leadership roles. Applicants must have identified a product/service/business model that has a standalone business potential and are committed to attending 90% of fellowship modules & assigned work.

Arab Bank Group achieved solid results for the period ending December 31, 2022, with net income after tax of $544.3 million as compared to $314.5 million in 2021. The Group’s performance was driven by robust growth in its core banking business across different markets, as net profit before provisions and tax increased by 23% to reach 1.35 billion US dollars.

Excluding the impact of devaluation of several currencies against the US dollar, loans and deposits grew by 5% to reach $35.4 billion and $ 47.7 billion, respectively, despite the volatile operating environment.

In view of these results, the Board of Directors has recommended to the shareholders, the distribution of 25% cash dividends for the financial year 2022.

Mr. Sabih Masri, Chairman of the Board of Directors, commented that Arab Bank was able to achieve several key strategic objectives in 2022 despite the challenges that emerged during the year. He also added that the results reflect the bank’s unique footprint as well as its diversified franchise and rooted presence in several markets. Mr. Masri stated that the bank remains committed to its strategic sustainable growth direction centered on serving customers’ evolving needs, and continuing to invest in innovation and digital transformation.

Ms. Randa Sadik, Chief Executive Officer, stated that Arab Bank continued to deliver sustainable growth rates during 2022 despite the economic challenges stemming from high inflation, increased interest rates and the devaluation in exchange rates of several currencies against the US dollar. The bank’s net operating profit grew by 23% driven by the growth in revenues from its core banking business, its diversified sources of income, with focus on non-interest income, as well as controlling operating expenses in line with the bank's prudent strategy.

Ms. Sadik added that the Group’s liquidity and asset quality remains solid where loan-to-deposit ratio stood at 74.2% and credit provisions held against non-performing loans continue to exceed 100%. Arab Bank Group maintains a strong capital base that is predominantly composed of common equity with a capital adequacy ratio of 16.6%

Ms. Sadik also highlighted that as part of Arab Bank’s commitment towards Sustainability and its Environmental, Social and Governance (“ESG”) priorities, the bank has launched its inaugural Sustainable Finance Framework, in line with international principles, guidelines and best practices. Arab Bank is the first bank in Jordan to adopt such a Framework and the bank has obtained a Second Party Opinion from S&P Global Ratings, which has affirmed the Framework’s alignment with the related international principles. 

With regard to the bank's digital transformation efforts, Ms. Sadik stated that the bank continues to implement its ambitious strategy on this front, noting that during the year the bank launched several digital banking services and solutions across various markets to meet the evolving needs and expectations of the different customer segments, including youth, inline with the latest trends and developments.  

Arab Bank was named “Best Bank in the Middle East 2022” for the seventh consecutive year by New York-based international publication “Global Finance”. The bank also received several awards in recognition of its corporate and consumer digital banking services in Jordan and across the MENA region.

The 2022 financial statements are subject to the approval of the Central Bank of Jordan.

Arab Bank renewed its support for the Digitization and Cybersecurity program implemented by INJAZ at different universities for the fourth consecutive year.

The program, in light of the rapid developments that the technology sector is witnessing, aims to enable students to identify the techniques and methods related to digitization and cybersecurity to ensure the protection of data against theft or damage when transferred, saved, or shared. The program also aspires to educate the students on topics related to cybercrime, identity theft, Artificial Intelligence (AI), the Internet of Things (IoT), as well as smartphones and applications, through interactive sessions that employ e-learning tools.

Through its strategic collaboration with Arab Bank over the past three years, INJAZ has been implementing the Digitization and Cybersecurity program across different universities and colleges in the Kingdom to keep pace with the rapid developments in cybersecurity and contribute to reducing the knowledge gap among students in this field. To date, over 3000 participating students have benefited from the program.

Arab Bank’s support of this program comes as part of its constant commitment to empower the youth and build their capacity by providing them with the knowledge and skills required to enter the labor market and contribute to sustainable development in light of the acceleration in technology and digital transformation that the world is currently witnessing.

Arab Bank recently concluded the second edition of its FinTech Bootcamp for entrepreneurs, which aims to drive emerging FinTech solutions in Jordan.  

Through this initiative, Arab Bank offered an ideal opportunity for promising FinTech entrepreneurs to present their ideas for a chance to develop them into innovative FinTech solutions and products. The bootcamp received a total of 74 applicants, of which, 13 were selected based on eligibility. The selected participants were then enrolled in an intensive workshop at AB iHub located at the bank’s headquarters, where they received specialized training by leaders in FinTech and entrepreneurship as well as Arab Bank’s team of experts.

The bootcamp concluded with a demo day where startups pitched their solutions to a panel of judges comprised of Arab Bank senior management and independent investors. “DESAISIV” received the first-place prize while “askPepper” received the second-place prize and “IPass” came in third. All three winners received cash rewards to continue developing their ideas and building their solutions.

Commenting on this initiative, Ms. Hala Zahran, Head of AB Accelerator at Arab Bank, Said: “We are proud of the remarkable success achieved by our FinTech Bootcamp every year, which is not only manifested through the number of ideas we have received, but also in the quality of these ideas and the engagement of the entrepreneurs across the different stages of the program, which provided them with a chance to develop their emerging ideas and solutions.” Zahran added: “This initiative provides young entrepreneurs with a unique opportunity to grow their skills and innovate through transforming their ideas into actual FinTech products and solutions based on best practices and market strategies.”

It is worth noting that Arab Bank is considered one of the leading regional financial institutions in deploying advanced digital solutions for financial and banking services. Arab Bank also gives significant importance to supporting innovation in the financial technology sector towards evolving the banking services and solutions in a manner that dovetails with the latest trends and developments associated with the fourth industrial revolution and the constantly evolving needs and expectations of customers across the different segments and sectors.  Arab Bank has adopted an integrated strategic approach in this respect, creating a center for innovation “AB iHub” and an accelerator hub. This strategic approach is in line with the bank's constant endeavor to support entrepreneurial startups and projects thus contributing to youth capacity building, innovation and sustainable economic development.

Arab Bank has recently opened Souq Bab Al Madinah branch in its new location in Al-Zarqa. The opening comes as part of the bank’s strategy to reinforce its branch network in the Kingdom and provide its customers across different segments with banking solutions that are in line with their needs and expectations.

The new branch offers alongside the usual banking services, a dedicated area for “Elite” program customers, a wide range of services to “Premium” program customers and SMEs through dedicated relationship managers, and an “ITM” for communicating in real-time with a bank representative via a video call to assist customers in conducting their banking transactions easily and instantly. The new branch also comprises an “ATM Plus”, which enables customers to withdraw double the daily limit amount in JOD and USD, instant and post-dated cheques deposit in JOD around the clock, and instant cash deposit in JOD and USD, in addition to the usual ATM services anytime.

Commenting on the branch opening, Head of Consumer Banking at Arab Bank – Jordan, Mr. Yacoub Matouk, stated: “The opening of the new branch in Al-Zarqa comes as part of Arab Bank’s constant efforts to connect with its customers across the different areas in the Kingdom and meet their needs and expectations within the highest banking standards.” He added: “The new branch offers a host of comprehensive banking services and systems to ensure a seamless and secure customer experience.” 

In addition to its branch network across the Kingdom, Arab Bank also offers a host of digital banking solutions and services through its “Arabi Mobile” app, and through its “Arabi Online” internet banking service. Additionally, customers who are interested in opening accounts with Arab Bank can download the "Arabi Mobile" app through App Store, Google Play or Huawei AppGallery then use the option "Open New Account" available through the application to enter the required information without the need to visit a branch. Through its “Arabi Next” app, the first of its kind in the Kingdom, Arab Bank also offers SMEs a host of banking privileges and digital services that meet the needs of this vital sector.

Arab Bank signed a cooperation agreement with HyperPay, the leading electronic payment gateway in the Middle East and North Africa region, to provide the bank’s merchants and customers with the latest e-payment solutions. The agreement comes as part of the bank’s constant efforts to provide its customers with seamless banking services in line with their needs and expectations.

Through the agreement, the bank’s merchant and service provider customers will have access to a comprehensive host of advanced e-payment services including payment acceptance, risk and fraud management.

Head of consumer banking at Arab Bank – Jordan, Mr. Yacoub Matouk, said: “We continuously seek to provide the latest banking services and e-payment solutions to our merchant and service provider customers. This collaboration with HyperPay is an added value to our offering that provides advanced and secure solutions to our customers, as well as the ability to track results and to access data easily.”

For his part, Mr. Mohannad Abwini, CEO of HyperPay, said: “HyperPay is linked to a wide network of banks across the region and acts as a mediator between banks, merchants and users by providing merchants and service providers with comprehensive e-payment solutions within high levels of security and ease.”

Abwini added: “HyperPay aims to further expand across the region through its offices in KSA, UAE and Egypt, while also providing advanced technologies and e-payment solutions, as well as enhancing our smart e-payment processing solutions using the latest and most effective technology platforms to serve the different companies and financial institutions. Today, HyperPay is able to merge with any commerce platform and offer payment acceptance with utmost ease and speed.”

It is worth mentioning that Arab Bank offers a host of digital banking solutions including the e-payment acceptance service for a wide range of merchants in Jordan through POS machines, the “Arabi E-Mart” online shopping platform, websites for merchants to increase their online sales, and the “Arabi MobiCash” app, which allows card payments using smartphones.

Arab Bank has recently received several international recognitions from prestigious organizations, most notably “Best Consumer Digital Bank in Jordan 2022” by New York-based Global Finance Magazine.