Amman
The Association of Banks in Jordan (ABJ) has signed a Memorandum of Understanding (MoU) with the International Growth Centre (IGC), a leading economic research institution affiliated with the London School of Economics and Political Science (LSE) and the University of Oxford, with the aim of strengthening cooperation in developing the banking sector, supporting financial innovation, and empowering small and medium-sized enterprises (SMEs) in Jordan.

The agreement was signed by Dr. Maher Al-Mahrouq, Director General of the Association of Banks in Jordan, and Mr. Jonathan Leape, Executive Director of the International Growth Centre. The signing ceremony was attended by economist Salma Shaheen from the IGC and Mr. Fadi Mashharawi, Director of Studies, Policies, and Planning at the Association of Banks.

The MoU seeks to establish a framework for cooperation between the two parties in promoting financial inclusion in banks, expanding access to banking finance for SMEs operating in Jordan, and producing studies that shed light on the realities and challenges facing these enterprises. It also aims to enhance the use of credit information, digital financial services, and green banking practices, thereby contributing to inclusive economic growth.

Under the agreement, the two parties will collaborate on identifying research priorities, organizing workshops, public dialogues, and knowledge-sharing events, as well as publishing joint policy papers and exploring opportunities for capacity building and exchange of expertise between Jordanian and international researchers. The MoU will also support the development of innovative tools for credit risk assessment and broaden the adoption of financial technology (fintech) in the banking sector.

Dr. Maher Al-Mahrouq, Director General of the Association of Banks in Jordan, emphasized that this partnership represents an important step toward enhancing financial inclusion and innovation in the Jordanian banking sector, adding: “We look forward to working with the International Growth Centre to deliver practical solutions based on research and global experiences, which will strengthen the ability of banks in Jordan to support financial inclusion, SMEs, and contribute to sustainable economic growth.”

For his part, Mr. Jonathan Leape, Executive Director of the International Growth Centre, expressed his strong appreciation for this partnership, stressing the importance of involving the private sector in economic research and evidence-based policymaking. Conveying his message on his behalf, the IGC’s economist and Jordan representative, Ms. Salma Shaheen, stated: “Jordan has a well-developed banking sector and significant potential to support financial innovation. This partnership will enable us to provide the research and analytical support needed to expand financing opportunities for SMEs and advance sustainable practices in the sector.”