Amman, July 24, 2025

The Association of Banks in Jordan officially announced on Thursday, July 24, 2025, the commencement of the work of the “Small and Medium-Sized Enterprises (SME) Committee”. The announcement followed the first meeting of the Committee, which was formed by a decision of the Association’s Board of Directors and includes in its membership 15 Islamic and commercial banks.

During its inaugural meeting, the Committee elected Mr. Fadi Amira, representing the Arab Bank, as Chairman. The members also reviewed the agenda, discussed the Committee’s objectives, tasks, framework of operations, and the frequency of its meetings.

In his remarks, Amira expressed his deep appreciation to Committee members for their confidence in him, stressing the importance of the Committee’s role in enhancing the banking sector’s contribution to improving the business environment for SMEs. He referred to national strategies such as the Economic Modernization Vision and the Financial Inclusion Strategy, noting that there are a number of challenges and opportunities the banking sector can address, particularly in fostering financial literacy among SMEs, as well as in advancing green finance and digital finance as modern tools for SME financing.

Committee members emphasized that their work will progress gradually, while opening dialogue with various sectors and stakeholders to unify efforts and address challenges. They noted that discussions are ongoing regarding regulatory requirements affecting SMEs and highlighted the importance of building financial and technical capacities to ensure effective engagement with SMEs and a better understanding of their financing needs. They affirmed that, while the banking sector has made significant strides in this area, there remains a need for continuous capacity building and leveraging technological and digital advances to improve financing tools.

Several members also underscored the importance of engaging with institutions that support the SME business environment, such as the Central Bank of Jordan and the Jordan Loan Guarantee Corporation, and stressed the value of future cooperation with such partners.

For his part, Dr. Maher Al-Mahrouq, Director General of the Association of Banks, highlighted that the establishment of this Committee reflects the exceptional importance of SMEs in the Jordanian economy and the banking sector’s commitment to providing the necessary financing for this vital sector. He acknowledged the challenges that hinder SMEs’ access to finance, noting that overcoming such obstacles must be a top priority for the Committee in order to facilitate bank financing for SMEs.

Dr. Al-Mahrouq added that the SME Committee will serve as the Association’s specialized body for reviewing all matters related to the SME sector and its wider operating environment. This, he said, will help expand SMEs’ access to financial services and enhance their financial inclusion. He emphasized that the Committee will address all SME-related banking issues in Jordan, including reviewing regulations and guidelines, building financial capacities through cooperation with local and international entities, and raising awareness of financial culture in different forums and engagements.

It is worth noting that the SME Committee is the tenth advisory committee established by the Association. The Association’s advisory committees are composed of experts and specialists from member banks, tasked with discussing and reviewing issues within their scope of work, producing actionable recommendations, and submitting reports and proposals to the Association’s management.