The ABJ celebrated its 40th anniversary under the patronage of CBJ Governor Dr. Ziad Fareez. The ceremony included honouring a number of leading bankers.

ABJ Chairman Hani Qadhi said Jordanian banking sector has been able to register leaps and great achievements during the past forty years in particular; the numbers of banks in Jordan rose to 24 banks in 2017, up from 13 banks in 1978, the year the ABJ was established. The number of bank branches rose to 818 branches, up from 98 branches in the same period.

Total bank assets rose to JD49.1 billion by the end of 2017, up from JD 637 million in 1978; deposits increased to JD 33.2 billion, up from JD 449 million in the same period of comparison, he added.

Other indicators include credit facilities granted by banks, which Al Qadhi said it increased to JD 24.7 billion, up from JD 333 million in the said period. The consolidated financial statements of banks are “much greater” than figures and indicators, especially in light of the geographic spread of Jordanian banks at the world level, which covers the five continents, he added.

The chairman highlighted Jordanian banking sector’s ability to evade the repercussions of the world financial crisis that affected most world economies as well as the biggest banks whether in developing or developed countries, saying that this is one of “landmarks” in the process of Jordanian banking.

Surpassing those crises and their repercussions confirms the strength and resilience of Jordanian banking sector and its wise leaderships, “which made our banking sector gain increased respect all around the world as it came out of those crises stronger and more resilient,” he said.

Jordanian banking sector held its responsibilities towards the national economy by financing and contributing to projects. It was also proactive in starting individual or group initiatives in social responsibility. Banks in Jordan come first in social responsibility activities compared to other sectors; social responsibility contributions by banks account for 3.3% of their net profits in 2017, “thus reflecting the evident interest of banks in enhancing social responsibility practices,” he said.

Honours were bestowed on a number of leading bankers, including former CBJ governors and banks’ former chairmen who delivered responsibilities to new bankers, for their outstanding efforts to advance Jordanian and Arab banking sectors.

Honoured leading bankers included Dr. Rajai Muasher, Dr. Michel Marto, Dr. Omayyah Touqan, Sharif Faris Sharaf, Abdul Hamid Shoman, Abdel Qader Qadhi, Tawfiq Fakhoury, Bassil Jardaneh, and Saeed Shaheen.

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