On Monday, March 24, 2025, the Association of Banks in Jordan held its Annual General Assembly Meeting via video conferencing. The meeting was chaired by H.E Mr. Bassem Khalil Al-Salem, Chairman of the Board of Directors of the Association, and was attended by all operating banks in the Kingdom.

The General Assembly reviewed the Board of Directors’ report on the Association’s activities for the year 2024, as well as the audited financial statements for the fiscal year ending December 31, 2024. The Assembly approved the final accounts, endorsed the auditors’ report, and approved the Association’s estimated budget for the 2025 fiscal year.

Mr. Al-Salem expressed his appreciation for the efforts made by bank administrations in enabling the Association to achieve its goals in serving the banking sector. He thanked the banks—represented by their boards of directors, executive management, and staff—for their swift responsiveness, continuous engagement, and cooperation with the Association. He also extended his thanks to the Central Bank of Jordan for its prompt response, effective communication, and full, ongoing support for the Association. Additionally, Mr. Al-Salem thanked all employees of the Association for their efforts throughout the year in serving the banking sector and helping the Association meet its objectives.

Mr. Al-Salem stated that the Jordanian economy grew by 2.4% during the first three quarters of 2024, and that the inflation rate reached 1.56% for the year. Meanwhile, the unemployment rate dropped to 21.4% in 2024.

He also pointed out that public finance indicators showed an increase in the budget deficit after grants by 12.8% by the end of 2024, reaching 5.6% of GDP.

Regarding external sector performance, the Chairman of the Association noted that total exports increased by 5.8%, imports rose by 4.5%, and the trade balance deficit widened by 3.2% in 2024 compared to 2023.

As for monetary and banking indicators, Mr. Al-Salem confirmed that there was clear growth across various areas, including a 5.6% increase in total assets, a 4.2% growth in credit facilities, and a 6.8% rise in total deposits in 2024.

During the General Assembly meeting, the Association also presented its 46th Annual Report. The report included an overview of global and local economic developments in 2024, monetary and banking developments in Jordan, including changes in monetary policy interest rates, as well as banking sector trends during 2024. The report also featured a summary of the Association’s key activities and achievements for 2024, in addition to the financial statements and the auditor’s report for the year.