In the presence of the Prime Minister and banking personalities ABJ hold a ceremony honoring the former Central Bank Governor.

The Prime Minister: The Central Bank has achieved a historic achievement in the level of reserves and maintaining the stability of monetary policy.

Sharkas: The Central Bank will remain a cornerstone of the national economy.

Fariz: The Central Bank was established on solid rules for many years.

Al-Salem: The tools that have been employed in recent years to deal with the Corona pandemic cannot be denied.

Sheikh: The last ten years have been strenuous, but they are full of achievements and difficult situations.

Today, Monday, ABJ held a ceremony honoring the former Central Bank Governor, Dr. Ziad Fariz, through remote communication technology. The ceremony was attended by Prime Minister Dr. Bishr Al-Khasawneh, Central Bank Governor Dr. Adel Sharkas and Chairman of the Board of Directors of the Association of Banks, Dr. Bassem Al-Salem in addition to more than 59 participants from the heads of councils and CEOs of banks. Dr. Al-Khasawneh said that the former governor, Dr. Fariz, made great efforts during the past years, in which he achieved basic gains to support monetary stability noting that the Central Bank had achieved a historic achievement in the level of reserves and maintaining the stability of monetary policy. He expressed his thanks and gratitude to Dr. Fariz for the great efforts he made during his service, his effective contribution to consolidating the principle of monetary stability and his efficient management of the Central Bank in light of delicate economic conditions and financial and economic reforms that require the highest levels of responsibility. Al-Khasawneh stressed that the efforts made by Fariz integrated with the Jordanian financial and economic reforms and contributed to achieving monetary stability, which is a major requirement for the success of these reforms.

Al-Khasawneh considered that the former governor, Dr. Fariz, was bold and solid in taking a decision that was in the national interest. He pointed to the importance of the role played by the banking sector in the Kingdom stressing that the government is a major supporter of the banking sector.

In turn, the former governor, Dr. Fariz, expressed his gratitude and thanks, revealing his happiness for the Prime Minister’s participation in this ceremony. Dr. Fariz indicated that the presence of the Prime Minister with the association today is in appreciation of the role of this sector stressing that the banking sector played a major role as part of the national system in protecting the Kingdom from the financial challenges it faced over the years. Fariz said that the banking system is sound and capable of supporting development efforts. He pointed out that the Central Bank was established on solid foundations for many years. He said that the achievements made over the past years were attributed to the cooperation of banks with the Central Bank, as this partnership was not only administrative, but also financial. On monetary stability, he stressed that it was based on the central bank, however, the banking sector was the one who protected and supported it.

He pointed out that financing windows played a major role in supporting the national economy since the implementation of those windows was largely sound. Dr. Fariz pointed to the importance of properly implementing the governance process by the banking sector stressing the primary role of the local banking sector in confronting the Corona pandemic. He said that “banks” always play a distinguished role in social responsibility. He praised the achievements of the banking sector, especially in the field of financing funds, the investment company and many other aspects. He called for intensifying efforts in technological transformation and development, especially in the field of cybersecurity. He described the team’s work at the Central Bank as a distinctive “symphony” to achieve the best results praising the former Deputy Governor, Dr. Maher Al-Sheikh, stressing the ability of the new governor to continue to lead the march and preserve the achievement. He also praised the efforts of the Jordanian Company for Loan Guarantee and the efforts of the Jordanian Company for Payment Systems thanking all the participants in this ceremony and expressing his happiness in the honoring ceremony.

For his part, Dr. Sharkas said, “Today we bid farewell to a symbol of the Central Bank and a stature of the local and Arab banking sector, the man who is “wise with his knowledge and experience, and generous in his work.” Dr. Sharkas stressed that the former governor is one of the top economists on whom the Kingdom has relied in leading the national economy and the financial and banking sector through a long career that spanned more than five decades. He pointed out that the former governor was deeply reading matters and leading monetary and banking policy with tact, competence and high professionalism. He said that Dr. Fariz enhanced banks’ credibility with a unique participatory approach strengthening banks’ soundness and enabling them to provide financing to the private sector on appropriate terms. Dr. Sharkas stressed that the Central Bank will remain, as you have entrusted it, a long-standing institution with well-established institutional traditions, a cornerstone of the national economy, and a pioneer in continuing development and modernization on a well-studied scientific basis in line with its vision and long-term strategic goals that transcend any administration. He gave a word of thanks to Dr. Sheikh, in which he said: “Over the past ten years, you have been a dear brother, colleague and helper, during which you have set an example in achievement, excellence and decision-making.

In turn, the Chairman of the Board of Directors of the Association of Banks, Dr. Bassam Al-Salem, said that Dr. Fariz bids farewell to the Central Bank, leaving behind a great legacy, a sound financial sector with positive indicators, a qualified work team, and a distinguished institution that is considered one of the constants of the Jordanian economy. Dr. Al-Salem stressed that the “Central” was looking at matters comprehensively, and the space between self-interest and the public interest was the base for work, and it was the one that should have been managed wisely to create concord between the two interests. He pointed out that the tools employed in recent years to deal with the Corona pandemic cannot be denied, as the efforts of the Central Bank topped what was done at the national level, noting that this was preceded by many measures to provide liquidity at low interest rates to support productive sectors based on the distribution and sharing of risks through some institutions affiliated with the Central Bank. He stressed that the ABJ sees the need to continue and expand programs to support SMEs and services as well as export support programs and others. He referred to the indicators of the safety of the banking system, global strength and all positive indicators of the financial performance. We will find that the summary of the work of the Central Bank has enhanced confidence in the banking system and in the Jordanian dinar, and the institution has maintained its internal and external relations in a distinctive way. He affirmed his confidence in the new management of the bank, led by Dr. Adel Sharkas and his team, and will continue to work on the same approach as well.

In addition, the former Deputy Governor, Dr. Maher Al-Sheikh, thanked him for this honor, stressing that the achievement was a result of the prudence of the banks in partnership with the Central Bank. He stressed that the last ten years have been strenuous, but they are full of achievement and difficult situations and need to think about the long-term interests within bold and wise decisions.

For their part, the Chairman of the Board of Directors of the Housing Bank, Abdulelah Al-Khatib, stressed the efforts of the Central Bank over the past years.

Al-Khatib called for building on the achievement and maintaining the strength of monetary policy wishing the new governor success in his great responsibility. The Director General of ABJ, Dr. Maher Al-Mahrouq, said that this meeting comes to bid farewell to a great banking figure noting that the meeting, via remote communication technology, came at the request of Dr. Fariz, in compliance with health and safety procedures. He congratulated Dr. Sharkas for his responsibility in managing the Central Bank.