Amman – January 2025

In a step aimed at enhancing banking cooperation and knowledge exchange, the Association of Banks in Jordan signed a Memorandum of Understanding (MoU) with the Representative Office of Al-Quds Bank in Jordan. The signing ceremony was attended by Dr. Maher Al-Mahrouq, Director General of the Association of Banks, Mr. Duried Jerab, Vice Chairman of the Board of Al-Quds Bank, and Mr. Mohammad Al-Khazaaleh, Director of the Representative Office of Al-Quds Bank in Amman.

The MoU aims to foster collaboration between the Association and the Representative Office by enabling the latter to benefit from the services provided by the Association to its member banks. It also seeks to increase levels of cooperation and mutual coordination with the Association and the banking sector in Jordan to facilitate the exchange of expertise and best practices in the field of banking operations.

The areas of cooperation outlined in the agreement include the participation of the Representative Office in events, training programs, and workshops organized by the Association. Additionally, the MoU aims to strengthen relations and connections between the Association’s member banks and the Representative Office by exchanging technical and technological expertise, publications, books, journals, and scientific research findings permissible for sharing.

Dr. Maher Al-Mahrouq stated that the signing of this MoU reflects the Association’s commitment to developing banking relations and enhancing competencies through the exchange of expertise and experiences. He added that this step responds to the Representative Office of Al-Quds Bank’s desire to benefit from the services provided by the Association of Banks and aligns with the Association’s interest in expanding its local and international relationships. It also aligns with its strategy to strengthen regional ties and exchange banking expertise.

For his part, Mr. Duried Jerab expressed his appreciation for the Association of Banks’ role in supporting member banks and safeguarding their interests, as well as its efforts to promote international banking cooperation. He emphasized that the MoU comes at a time when there is an increasing need for greater collaboration among Arab financial institutions to address shared economic challenges.

It is worth noting that Al-Quds Bank established its representative office in Jordan in 2019 to strengthen ties and interaction with Jordanian banks and financial entities. The office operates solely as a representative entity and does not engage in any commercial activities in the Kingdom, in accordance with its licensing as a representative office.

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