Arab Bank has recently released its first Sustainable Finance Allocation and Impact Report for 2024, underscoring its commitment to transparency, impact measurement, and the transition to a low-carbon economy. The report represents a significant milestone in Arab Bank's journey to expand its sustainable finance portfolio, promoting a more sustainable future for the region.

The Sustainable Finance Allocation and Impact report follows the successful issuance of USD 250 million in Sustainable Additional Tier 1 (AT1) Capital Securities in October 2023, and offers detailed insights into the allocation and impact of the proceeds from these securities. The report provides a comprehensive overview of Arab Bank's approach to sustainable finance, aligning with global best practices and frameworks. It underscores the bank's commitment to supporting the UN Sustainable Development Goals (SDGs), focusing on green categories that address climate change, and social categories such as Employment Generation aimed at alleviating unemployment.

The report also highlights the bank's commitment to allocating budgets for sustainable finance projects across diverse sectors such as renewable energy, green buildings, and clean transportation. Arab Bank’s sustainable finance portfolio has been allocated in line with its Sustainable Finance Framework, which was published in October 2023. Since then, the Bank has actively financed a range of green projects and social projects across different markets in the region. These investments have generated substantial impact, such as financing 487 MW of renewable energy capacity, avoiding 155,528 tons of greenhouse gas emissions, and the allocation of USD 47 million in support of small businesses.

An independent third-party limited assurance report on the allocation of proceeds from the Sustainable Additional Tier 1 (AT1) Capital Securities has been provided by Deloitte & Touche (M.E.).

Arab Bank’s 2024 Sustainable Finance Report and the independent third-party limited assurance are published on Arab Bank’s website and can be viewed through the following link

Arab Bank was recently the platinum sponsor of the 57^th Annual General Meeting (AGM) of the Arab Air Carriers Organization (AACO), which was held at the Kempinski Hotel Ishtar Dead Sea, under the Royal Patronage of His Majesty King Abdullah II Ibn Al Hussein. The event which was hosted by Royal Jordanian Airlines, the national carrier of the Hashemite Kingdom of Jordan, witnessed significant participation from the Chief Executives of AACO member airlines, partner airlines and industry stakeholders including aircraft, and engine manufacturers, information technology companies, and other professionals with interests in the aviation sector on both regional and international levels. 

The three-day meeting featured a series of working sessions addressing key topics in the aviation industry, including sustainable aviation policies. Additionally, panel discussions were held, most notably the "Arab Aviation Summit," which featured a roundtable dialogue among CEOs on the current state and latest developments within the aviation sector.

Arab Bank's sponsorship of this event comes as part of its constant commitment to supporting economic conferences and events, as well as fostering the growth and development of vital business sectors, contributing to sustainable economic development.

Arab Bank and Al-Aman Fund for the Future of Orphans have recently renewed their cooperation agreement for the fifteenth consecutive year. The agreement aims at empowering the orphans and helping them become self-dependent and productive members of society through various care programs.

Arab Bank's long-term support of the Fund has funded a total of 86 students pursuing university degrees, vocational training, and community college programs across the Kingdom's governorates.

Through the renewal of the cooperation agreement, 30 beneficiaries will continue their education, including those who will be newly enrolled in school along with other current students. This is in addition to offering training and career opportunities for graduates. 

This collaboration reflects Arab Bank's commitment to social responsibility and enhancing its economic and social impact by actively empowering youth and collaborating with relevant sectors to foster sustainable community development.

Commenting on the agreement's renewal, Ms. Noor Homoud, General Manager of Al-Aman Fund, praised the ongoing collaboration between the Fund and Arab Bank, highlighting their shared commitment to sustainable development and to providing equal opportunities for orphaned youth by delivering quality education that fosters a positive impact on the lives of these youths and their communities. Ms. Homoud also emphasized that Arab Bank has consistently been a pioneering supporter and firm believer in the organization and its mission, recognizing the importance of investing in the lives of orphaned youth”.

Praised the ongoing collaboration between the Fund and Arab Bank, highlighting their shared commitment to sustainable development and to offering equal opportunities for young male and female orphans. This partnership aims to provide quality education that fosters a positive impact on the lives of these youths and their communities. Al-Hamoud also emphasized that Arab Bank has consistently been a pioneering supporter and firm believer in the organization and its mission, recognizing the importance of investing in the lives of young orphans. 

It is worth noting that Arab Bank offers its customers the ability to donate through the bank’s digital channels or cash deposit in the Fund’s account.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

Al-Aman Fund for the Future of Orphans is a charitable organization established in 2006 under the initiative of Her Majesty Queen Rania Al Abdullah. It aims to empower orphans over the age of 18, who are graduates of care homes or from poverty areas, through educational programs, livelihood support, capacity building, and self-development. Since its inception, the Fund has benefited more than 4,872 orphans- 66% of whom are female, and has enabled 3,473 young men and women to graduate and embark on their professional lives.

The President of the University of Jordan (UJ), H.E. Prof. Dr. Nathir Obeidat met with Arab Bank Chief Executive Officer, Ms. Randa Sadik, to explore avenues for enhancing collaboration between both parties on the academic and technical fronts.

During the meeting, Dr. Obeidat expressed his appreciation for Arab Bank’s contributions to the university's educational mission and skills development, highlighting the bank’s leading role within the community and its contributions to the advancement of higher education and the development of students’ technical skills. 

Dr. Obeidat noted the university's recent climb in global rankings, rising 130 places to 368^th in the QS World University Rankings for 2025, achieving 197^th place in employer reputation and 110^th in graduate employability. These achievements reflect university's commitment to developing students' language and digital skills, effectively equipping them for the job market.

For her part, Ms. Sadik praised the academic progress the university has achieved across various academic fields and its ongoing efforts to stay at the forefront of developments. She further expressed Arab Bank's pride in this distinguished institution, and reaffirmed the bank’s commitment to providing the necessary support to further enhance its educational mission.  

Ms. Sadik emphasized the importance of adapting to the rapid changes of modern era and addressing the evolving needs of future generations. She highlighted the impact of emerging fields such as artificial intelligence, digital services, and cybersecurity, which are considered vital in today's job market. She also discussed potential training opportunities for the university students in these areas.

The meeting was attended by the Vice President for Humanities Faculties, Dr. Nahed Emaish; the Vice President for Scientific Faculties, Dr. Ashraf Abu Karaky; the Vice President for Administrative Affairs, Dr. Ziad Hawamdeh; the Director of the Information Technology Center, Dr. Luay Al-Nimr; and the Director of the Media and Public Relations Unit, Dr. Rakan Abu Orabi.

The visit featured the inauguration of the Arab Bank Cybersecurity Lab in the King Abdullah II School of Information Technology, attended by the Dean of the School, Dr. Basel Mahafzah, and several faculty members from the Cybersecurity Department. The lab, established with support from Arab Bank, will serve as a specialized center for practical training on the latest cybersecurity technologies.

Cybersecurity faculty and lab staff highlighted the importance of this new facility and its curriculum, which includes digital forensics, network security, security principles, information security and privacy, and a problem-solving lab.

The delegation also toured two classrooms at the School of Business, currently being renovated through the support of Arab Bank, with the presence of Dean Dr. Samer Dahiyat. This initiative aims at creating a state-of-the-art learning environment that will help prepare qualified graduates to meet the evolving demands of the job market.

Arab Bank Group continues to deliver strong financial performance, reporting net income after tax of $748.6 million in the first nine months of this year compared to $630.3 million for the same period last year, with an increase of 19%.

The Group’s assets grew by 6% reaching $70.5 billion. At constant currency loans grew by 8% to reach $38.3 billion, while deposits grew by 7% to reach $51.9 billion. The Group maintained its solid capital base with a total equity of $11.9 billion.

Mr. Sabih Masri, Chairman of the Board of Directors, stated that the results reflect the successful and consistent execution of the Group’s growth strategy and its prudent approach towards managing risks, liquidity and capital to ensure achieving growth objectives despite challenging market environment.

Ms. Randa Sadik, Chief Executive Officer, stated that the Group continues to achieve growth milestones across different segments. Ms. Sadik highlighted that the bank’s net operating income grew by 12% driven by diversified core banking activities, and improvement of operating efficiency.

Ms. Sadik added that the Group’s performance in the first nine months of this year reflect its business model resilience to challenging market conditions with loan-to-deposit ratio at 73.9%, and credit provisions against non-performing loans above 100%, and capital adequacy ratio of 17.7%.

Ms. Sadik emphasized the Group’s focus on digital transformation as a fundamental pillar of its innovation-based strategy; providing digital financial solutions across all channels to enrich customers’ experience.

Arab Bank was named “Best Bank in the Middle East 2024” by Global Finance for the ninth consecutive year.

Arab Bank has recently renewed its strategic partnership with the Queen Rania Foundation for Education and Development (QRF), further supporting the foundation’s role in advancing education and development projects across Jordan. The collaboration will fund QRF’s leading programs and initiatives across a range of areas, including enhancing the education sector, providing care for orphans, protecting children, empowering youth and women, and strengthening their roles in society.

The renewed agreement solidifies Arab Bank's continued commitment to enhancing education quality through Queen Rania Foundation’s (QRF) "My Child’s Early Years" and "Read!" programs, focusing on early childhood education. The support extends to improving schools’ infrastructure and creating better learning environments through the "Madrasati" initiative. The collaboration also includes providing university scholarships through the "Al-Aman Fund for the Future of Orphans," fostering their path towards a successful future. Furthermore, the bank promotes the financial independence of families through its support to the “Family and Child Protection” program through the ongoing partnership with the Jordan River Foundation. This commitment also encompasses promoting health awareness, both educationally and psychologically, through the Royal Health Awareness Society's Healthy Schools Program. In addition, Arab Bank will continue its support for the "Teach Like a Champion" program with the Queen Rania Teacher Academy, focusing on teacher development and improving education quality. Continued support is also extended to the "Beeati Al Ajmal" project in collaboration with the Queen Rania Al Abdullah Award for Excellence in Education. Moreover, the bank is committed to raising awareness among children on key social and national issues through the "Community Connections" program in partnership with the Children’s Museum Jordan. Finally, the bank equips students with essential job market skills by providing free courses and workshops through the “Edraak” platform.

Arab Bank has been a key supporter of QRF since 2014, playing a pivotal role in supporting the foundation's leading education and development initiatives. These include Jordan River Foundation, Al-Aman Fund for the Future of Orphans, Queen Rania Teacher Academy. This collaboration has contributed to improving the lives of thousands of students and families across the Kingdom.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social, and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

With the support of Arab Bank, Al Joud Foundation recently concluded the “Sunbulah” initiative implemented in public schools with a ceremony honoring the winning schools for the year 2023-2024. This initiative presented by Al Joud Foundation in partnership with the Ministry of Education, aimed to enhance the school environment and empower teachers to promote a culture of social entrepreneurship in collaboration with the local community. 

The initiative witnessed the participation of over 12,000 teachers from all levels across 1,500 public schools, who received Sunbulah training in methodology and life skills to benefit 350,000 students. A specialized committee then evaluated the resulting projects, selecting 105 winners from across the Kingdom.

Commenting on the importance of community initiatives at public schools, Managing Partner of Al Jude Foundation, Maher Kaddoura stated that the “Sunbulah” initiative seeks to empower school staff to overcome work challenges and cooperate in enhancing the school environment by promoting knowledge exchange among the teachers and the students”. He also expressed his pride incollaborating with Arab Bank as the exclusive sponsor of this initiative, reaffirming its active role in achieving the foundation’s goals.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social, and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

Arab Bank has recently launched a special promotional campaign for its digital savings account, "e-Tawfeer Plus," the first of its kind in Jordan that offers daily interest. Through this campaign, Arab Bank offers its customers the chance to win valuable weekly prizes, as part of the it's ongoing commitment to providing exceptional offers and programs that cater to its customers' evolving needs and expectations. 

The campaign offers eligible customers who have "e-Tawfeer Plus" digital savings accounts, the opportunity to win valuable weekly prizes by doubling the winners' balances up to 10,000 JDs as a maximum limit. A draw will be held over a period of 13 weeks to select 13 winners of these prizes. The campaign will run until December 31, 2024.

Commenting on the launch of this campaign, Mr. Yacoub Matouk, Head of Consumer Banking at Arab Bank – Jordan, said: “We continuously seek to provide our customers with competitive banking solutions through value-added offers and campaigns that are in line with their expectations and financial needs. He added: “Through this campaign, the bank is committed to helping its customers manage and grow their savings effectively. The “e-Tawfeer Plus” account offers many unique benefits designed to meet the customers’ evolving financial needs, including daily interest on available balances and rewarding them with “Arabi Points” for the amounts deposited into their “e-Tawfeer Plus” accounts."

It is worth mentioning that customers, who wish to open an “e-Tawfeer Plus” account, can download the app from “Arabi Mobile” available on AppStore, Google Play and Huawei AppGallery, and select the “Open a New Account” option to enter the needed data and open an account digitally without the need to visit a branch, as well as earning welcome points based on the available account balance at the end of each month.

Arab Bank recently concluded the "Recycled Art” Initiative, which was held over the course of three months in collaboration with the Children’s Museum Jordan. The initiative aimed at raising awareness among children on the importance of environmental conservation, and reinforcing recycling habits to reduce negative impact on the environment, through recycled art. The initiative targeted children up to the age of 12 years old, with over 3,655 children participating in various activities.

Arab Bank’s support for this initiative comes as part of its CSR program “Together”, which addresses a range of subjects that align with the values of citizenship and social responsibility. The bank’s ongoing collaboration with the Children’s Museum reflects its constant commitment to supporting educational and awareness-focused programs and initiatives designed for children.

The initiative, which was held at the museum, included a wide variety of activities focused on using recycled plastic and paper materials to create and showcase artistic pieces. The museum placed two containers at its entrance to encourage visitors to collect used plastic and paper for this recycled art initiative, and to promote waste sorting and recycling practices at their homes. Through these activities, children were able to express their creative skills in using recycled materials to craft artistic and innovative artworks. This is in addition to repurposing paper by molding paper dough into sculptures of Arabian Oryx, and reusing plastic bottle caps to create expressive structures and art creations.

Commenting on this initiative, Ms. Sawsan Dalaq, Director of the Children's Museum Jordan, thanked Arab Bank for developing this initiative and for choosing the Children’s Museum as the strategic location for its launch, being an ideal attraction for children aging between 1 to 12 years old.  She added: “This initiative comes in line with the bank's commitment to support all society segments and its responsibility in fostering generations that are socially conscious and aware of important causes. We are proud to have played an effective role in raising environmental awareness and inspiring actions to safeguard the well-being of our community and future generations”.

The Children’s Museum Jordan is a non-profit educational organization established by Her Majesty Queen Rania Al Abdullah in 2007. Located in Al Hussein Public Park, the Museum has over 190 interactive indoor and outdoor exhibits and learning facilities that include a library, an art studio, a laboratory, and a secret garden. It offers educational programs and celebrations around the year.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social, and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

Arab Bank has recently launched the digital flight booking service via its "Arabi Mobile" app in collaboration with Royal Jordanian. This service allows customers to instantly book Royal Jordanian flights to and from any destination directly through the bank's app, offering a smooth and convenient experience.

The launch of this new service comes in line with the bank’s strategy aiming at providing the latest digital banking services and solutions offering customers a seamless banking experience that saves their time and effort within the highest levels of flexibility.

The service enables customers to plan their trips, search for available flights, and complete the booking process securely through "Arabi Mobile" app in a few simple steps, and enjoy a 5% discount on Royal Jordanian tickets when booking through the app. Additionally, this new service offers flexible payment options, allowing customers to pay directly using any of their Arab Bank accounts or credit cards.

Commenting on the activation of this service, Mr. Yacoub Matouk, Head of Consumer Banking at Arab Bank - Jordan, said: "The launch of this new service in collaboration with Royal Jordanian reflects Arab Bank’s commitment in adopting the latest technologies in the banking industry in line with its customers’ evolving needs.” He added: “The digital flight booking service with a preferential rate on Royal Jordanian tickets provides a value-added addition to the host of digital services offered through the bank’s “Arabi Mobile” app, granting its customers with a user-friendly banking experience through streamlined travel planning and effortless booking.

Mr. Karim Makhlouf, Chief Commercial Officer of Royal Jordanian, highlighted the importance of collaboration between leading Jordanian institutions to deliver innovative and exceptional customer service. He expressed his gratitude for this partnership that allows customers to book flights on Royal Jordanian through a secure and user-friendly option via "Arabi Mobile" application. Mr. Makhlouf emphasized that this collaboration contributes to direct all efforts to digitalization in Jordan, and perfectly aligns with Royal Jordanian's commitment to providing travelers with the most convenient and optimized booking experience, especially in light of continuous technological advancements.

It is worth mentioning that the “Arabi Mobile” app offers a host of digital banking solutions that enable customers to conduct their transactions digitally around the clock from anywhere using smartphones and tablets within the highest levels of flexibility and security. Additionally, customers who are interested in opening accounts with Arab Bank can now download "Arabi Mobile" app through App Store or Google Play and Huawei AppGallery then use the option "Open New Account" available through the application to enter the required information without the need to visit a branch.

Arab Bank was recently the golden sponsor of Amman International Marathon in its 14^th edition, organized by the Jordanian Marathon Association “Run Jordan” during October 2024. The marathon aimed to encourage all segments of society to engage in various sports activities, especially running.

The marathon witnessed great competition with the participation of over 5,000 professional and amateur runners from different age groups in an atmosphere filled with positive competition, enthusiasm, and energy. A special race day was also dedicated for children to promote physical activity and emphasize its importance from a young age.

Ms. Lina Kurd, General Manager at Run Jordan, expressed her gratitude for the ongoing cooperation between Arab Bank and Run Jordan over the past years and thanked the bank for its trust in the association’s efforts. Kurd also added: “We take pride in our cooperation with Arab Bank since 2009 and its annual support of Amman Marathon, driven by its commitment to promote healthy lifestyle through supporting sports and social initiatives.

Arab Bank’s continuous support of the event is in line with its strategy to support national initiatives and activities as part of its social responsibility and community development. Amman Marathon is an effective platform, which aims at raising awareness among the society on the importance of sports and following a healthy lifestyle, in addition to its cultural and tourism role, being held annually in Amman.

Arab Bank was recently the main sponsor of the 62^nd ACI World Congress & 47^th ICA Conference & Exhibition, which was held at the Hyatt Regency Ayla in Aqaba under the patronage of the H.E. Governor of the Central Bank of Jordan, Dr. Adel Sharkas. The conference, organized by the Financial Markets Association (ACI) - Jordan attracted a large number of key analysts and experts from Jordan, the region, and globally, specializing in financial trading.

The two-day conference included a series of in-depth panel discussions that covered topics related to the inflation, high interest rates, climate change risk and sustainable banking, bank risk management and many other topics of interest to the participants. The conference served as a unique platform for sharing expertise between a group of elite Arab and international bankers and financial experts from various countries.

Arab Bank's sponsorship of this conference comes as part of its constant commitment to supporting banking and financial conferences and events, as well as keeping abreast of the latest economic policies, international laws and legislations related to the financial trading, following the best practices and recommendations in this field. 

ACABES for Financial Technology has recently launched “Omnify”, its first API “Application Programming Interfaces” platform, which is a software technology that is designed for banking-as-a-service and more for selected markets in MENA region.  Omnify platform allows partner companies to offer embedded financial products for their own customers by consuming banking APIs from Arab Bank and beyond. Omnify provides a seamless and secure access to banking services and financial solutions to expand partner companies’ value proposition to their customers and increase customer loyalty.  

“Omnify” is part of Arab Bank’s fully integrated portfolio of innovative digital banking solutions designed to meet the corporate sector’s needs- whether for large, medium or Fintech companies. The platform supports business expansion in line with the latest advancements in digital banking, communications, and technology.

Omnify enables companies to offer “Banking-as-a-Service”, providing them with the necessary tools to develop integrated and advanced financial solutions across banking and financial institutions in the MENA region. “Omnify” currently offers different APIs across categories such as digital onboarding and ID verification, banking services including wallets and virtual Iban, debit and prepaid card services, virtual cards “Cards as a Service”, payments services and solutions “Payments as a Service”, and soon lending APIs. Additionally, the platform allows partner companies to benefit from sub-applications that utilize Arab Bank’s operating systems, data, and APIs.

The platform’s key benefits include easy and efficient customized products reflecting the client’s brand identity, equipping companies with the necessary infrastructure to provide this service through continuous technical support and tools for building propositions ranging from accounts opening, to providing loyalty programs, payment options, card issuance, and more. “Omnify” also handles all financial regulatory and compliance requirements, allowing companies to focus on product development and global expansion with higher profit returns and reduced costs.

Commenting on the launch of the platform, Deputy CEO/Chief Operating and Operations Officer, Mr. Eric Modave, said: “The launch of “Omnify” embodies the bank’s leading position at the digital banking front, providing the latest banking services and solutions that support the business operations of all sectors. It is a manifestation of the bank’s ambitious vision towards embracing digital transformation as an integral part of its strategy.” Modave added: “The newly launched platform provides an integrated banking experience that is both seamless and secure for companies and non-banking entities. “Omnify” will enable them to expand their business digitally, thus dovetailing with our commitment to supporting financial inclusion through serving all segments and sectors of society.”

It is worth mentioning that ACABES for Financial Technology was established in 2021 by Arab Bank as the bank's technological arm, through which it contributes to providing FinTech services to customers from different sectors. The bank gives significant importance to supporting innovation in the financial technology sector towards evolving the banking services and solutions in line with the latest trends and developments associated with the fourth industrial revolution and the constantly evolving needs and expectations of customers across the different segments and sectors. 

Arab Bank has recently renewed its support to the Women and Youth’s Economic Empowerment project in collaboration with “Dar Abu Abdullah”, for the second consecutive year. The support comes as part of the bank’s constant efforts in enabling underprivileged families and empowering women and youth to sustain their families’ livelihoods, thus contributing to achieving sustainable development.

Through its support, Arab Bank will empower 14 women and 7 youth beneficiaries from “Dar Abu Abdullah” through financing 21 greenhouses and one agricultural cycle in Al Dar’s farm, located in in Rabba, Karak Governorate, and that operates on hydroponic technology. The bank will also cover the costs of purchasing seeds and planting them, enabling beneficiaries to generate financial income and recover the project investment and allocate it for more agricultural cycles. As a result, this will provide them with the necessary skills to maintain a stable source of income and improve their standard of living.  

Dar Abu Abdullah is a non-governmental and non-profit organization that seeks to empower individuals, enhance their capabilities, and sustain their livelihoods through projects that address the underlying causes of food poverty in Jordan, by enrolling them in economic empowerment programs in line with “wage-employment” or “self-employment” paths. Named after His Majesty the late King Hussein Bin Talal and chaired by Her Royal Highness Princess Haya Bint Al Hussein, Dar Abu Abdullah was established in an effort to honor His Majesty’s legacy and his belief that the individual represents a nation’s greatest asset.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social, and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

Reflect by Arab Bank has recently introduced a new payment method (Tap to Pay) in the app’s latest update marking the fifth addition to its diverse range of payment methods. This service comes as part of the bank’s keenness to keep pace with the aspirations and financial needs of individuals across various segments, offering them innovative services and seamless benefits that enhance their digital banking experience.

The app was updated automatically on users’ phones to include “Tap to Pay” service, which allows Android users to conduct contactless transactions using Near Field Communication (NFC) through Reflect app eliminating the need to swipe or insert cards into a POS machine, where all Reflect cards can be connected to this new service.

Each of the five payment methods available through Reflect comes with its own set of unique benefits. First, Reflect card for direct payment can be issued with the utmost ease and for free through the app, as it provides exclusive banking benefits and services, and it can be used for transactions in six different currencies both inside and outside of Jordan, online and in-stores. As for Reflect credit card, customers can request it within 24 hours immediately upon opening an account after verifying the availability of specific, simple conditions in a quick manner, with a minimum amount of JOD 100 and a maximum limit of JOD 3,000. It is not necessary to transfer the salary to the Reflect account to obtain it, but customers who have transferred their salaries are granted a higher credit limit. The credit card gives its holders a 3% cashback on all transactions capped at 35 JDs on a monthly basis, in addition to benefiting from the convenient payment program with a repayment period of up to 24 months without interest at selected stores and shops. 

Other payment methods also include “Reflect Visa Virtual Card” that customers can automatically acquire once they open and activate their Reflect accounts, so they can use it in their online transactions and subscriptions. As for the fourth method, customers can use Reflect QR within the app in selected merchants, where they can benefit from exclusive offers and discounts in addition to accessing “Pay Later” service to facilitate customers’ payments in 4 equal installments to be paid later without interest. It is worth noting that Reflect is preparing to launch the sixth payment method that will be announced in due manner.

Reflect also provides customers with daily updates that include exclusive offers and discounts, in addition to many banking services which include: bill payments, sending and receiving money between pre-identified customers, enabling the customer to manage his personal financial goals and coordinate the appropriate savings plan, in addition to the distinctive loyalty program that enables the user to earn points in different ways and keep them or use them within the application for free and without commissions after converting them into cash in his main wallet, and many other benefits.

Reflect updated version is available for download through AppStore, Google Play, and Huawei AppGallery.

Coinciding with World Traffic Day and Arab Traffic Week, Arab Bank continued its support for “My School is My Joy” campaign as part of its constant commitment towards supporting and serving the local communities. The campaign, which was launched in coordination with the Central Traffic Department, aimed to enhance the roads’ safety and raise the students’ awareness and knowledge of important traffic rules such as the proper ways to cross the street and avoid dangerous situations on the road, and adhere to other traffic regulations.

The "My School is My Joy" campaign targets 60,000 students aged 6 to 12 from various schools across the Kingdom. It aims to reduce pedestrian accidents by consistently and effectively guiding the students. The initiative is carried out by hosting several educational workshops and interactive sessions, in addition to the distribution of 60,000 educational puzzle, coloring books and crayons, pencil cases, backpacks, and a dedicated booklet under the same campaign tagline . This booklet provided students with a range of road instructions, which are easy to understand and follow through dialogue stories that attract the students’ attention. Arab Bank employees participated in the traffic awareness campaign by distributing awareness and educational materials along with backpacks to students at several public schools in Amman on the first day of the academic year.

The bank's support for this initiative comes in line with its CSR program, which addresses different aspects that align with the values of citizenship and social responsibility. This includes initiatives and activities that cater to the children’s interests, reflecting the bank's commitment to this age group through by supporting educational and awareness-raising programs.

Global Finance, a New York-based international publication, has recently named Arab Bank the “Best Consumer and Corporate Digital Bank in Jordan 2024” on both consumer and corporate levels. The bank also received 20 awards in recognition of its corporate and consumer digital banking services across Middle East and Africa markets.   

Arab Bank was chosen by a world-class panel of judges, which included experts in consulting, technology, and outsourcing, in addition to the magazine’s team of editors. The criteria of selection included: strength of strategy for attracting and servicing digital customers, success in getting clients to use digital offerings, growth of digital customers, breadth of product offerings, evidence of tangible benefits gained from digital initiatives, web/mobile site design and functionality, and the breadth of its product and service offering.

This global recognition complements Arab Bank’s significant success record and comes as a result of its constant efforts to deploy the latest digital banking solutions and services that meet the needs of its customers across the different sectors in line with the latest technologies in the banking industry.

In Jordan, Arab Bank’s list of awards included Best in Innovation, Best Bill Payment and Presentment, Best in Lending, Best Social Media Marketing and Services, Best Mobile Banking Adaptive Site, Best Integrated Consumer Banking Site, Best Online Product Offerings, Best Mobile Banking App, Best Open Banking APIs, Best User Experience (UX) Design.

Additionally, the bank received the “Best Consumer and Corporate Digital Bank” award in Egypt, as well as the “Best Corporate Digital Bank” award in UAE, Morocco, Bahrain, and Algeria.

On the regional level, Arab Bank received a total of two recognitions for its consumer services, which included “Best Bill Payment and Presentment in the Middle East” and “Best Integrated Consumer Banking Site in the Middle East”. The bank also received a total of two recognitions for its corporate services, which included “Best Online Cash Management Services in the Middle East” and “Best Mobile Banking App in the Middle East”.

It is worth mentioning that Arab Bank was recently named “Best Bank in the Middle East 2024” by Global Finance for the ninth consecutive year.

A group of Arab Bank employees volunteered in various programs in collaboration with the Queen Rania Family and Child Center (QRFCC), a division of the Jordan River Foundation. These programs aim to protect underprivileged children by providing them with the necessary knowledge and skills, addressing their mental health, and raising awareness about the latest technological developments and trends. This collaboration aligns with JRF's initiatives for family and child protection that aim to reach the largest number of beneficiaries.

Arab Bank’s support of this initiative comes in line with its CSR program, which addresses different aspects that align with the values of citizenship and social responsibility. This includes initiatives and activities that cater to the children’s interests, resonating with the bank’s commitment to this age group by supporting educational and awareness-raising programs. 

As part of JRF’s Child Safety Program, Arab Bank employees volunteered in the "Safe Environment" activity aiming to introduce important topics such as bullying and abuse. Additionally, the employees also participated in the "My Little Home" initiative that aims to increase children’s self-awareness levels and enhance their abilities and skills. The initiative is implemented through a simulated home environment that is designed in a modern and simple manner to include five rooms that are linked to the concepts of family life.

Furthermore, volunteers participated in activities within the "Technology and Virtual Reality Space” that adopts a modern and entrepreneurial approach to introduce youth to the latest technological trends and tools, as well as various topics providing technical knowledge and enabling them to make decisions related to their academic and professional paths. Among these activities is the "Salhouf” puppet show, a preventive program that aims to raise awareness of important topics among children through theatrical shows, empowering them and developing their personalities.

The Queen Rania Center for Family and Child was established by the Jordan River Foundation in 2005 with the aim of enhancing social, economic, educational, and environmental areas related to child wellbeing. The center adopts a holistic model of services that aims to integrate cultural, societal and familial aspects to secure financial support for children and their protection in partnership with the local communities and JRF partners. 

Arab Bank renewed its cooperation agreement with King Hussein Cancer Foundation for the seventh consecutive year, to support the “Back to School” Program launched by the King Hussein Cancer Foundation & Center for the academic year of 2024 – 2025. The program aims at supporting over 400 children and young adults undergoing treatment at the King Hussein Cancer Center.

Arab Bank's continuous support aligns with its commitment to sustainability and social responsibility, demonstrated through its dedication to advancing educational opportunities and fostering inclusive learning environments within the communities it serves.

Launched in 2017 in partnership with the Ministry of Education, the "Back to School" program has made a significant impact helping over 2,300 students across various educational levels. Arab Bank provides multifaceted support, including employee volunteers who offer weekly classes, private tutoring, and educational sessions for KHCC patients. This ensures that students being treated at KHCC can continue their education uninterrupted throughout their treatment. Arab Bank also provides essential learning tools such as stationery, books, and laptops, and covers additional needs like field trips, specialized courses, and school fees for children with special needs.

Ms. Nisreen Qatamish, Director General of the King Hussein Cancer Foundation, expressed her gratitude for Arab Bank's continuous support of the "Back to School" program over the past seven years. She emphasized the bank's vital role in the program's success, enabling young cancer patients to continue their education despite the challenges they face. Ms. Qatamish highlighted that this initiative aligns with the King Hussein Cancer Center and Foundation's commitment to providing comprehensive care that encompasses medical, psychological, and academic well-being.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social, and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

Arab Bank has recently launched a special promotional campaign on credit cards, which promotes environmentally friendly practices, in collaboration with merchants that are specialized in eco-friendly products and appliances. This comes as part of the bank’s constant efforts to provide its customers with exclusive services and campaigns in line with their aspirations and diverse needs that reinforce their social responsibility towards the surrounding environment. 

The campaign offers Arab Bank credit cardholders a range of benefits when purchasing any environmentally friendly products and appliances using their cards. The benefits include installment plans with 0% interest rate at selected merchants, that offer green products such as solar systems, electric car charging units, energy-saving air conditioners, and renewable energy systems. Additionally, the campaign includes a cashback reward for three winners, capped at JD 500 per customer, with one winner selected at the end of each month.

Commenting on the launch of the campaign, Mr. Yacoub Matouk, Head of Consumer Banking at Arab Bank – Jordan, said: “This campaign comes as part of Arab Bank’s constant efforts to provide our credit cardholders with the best offers especially those that promote environment sustainability. We strive to help our customers to make environmentally-driven choices that meet their needs and match with their lifestyle.”
The Campaign comes in line with Arab Bank's ESG strategy to reinforce the bank’s commitment to providing green financing solutions while raising environmental awareness and promoting eco-friendly practices in parallel.

It is worth mentioning that Arab Bank credit cards provide a wide range of benefits to its holders, including worldwide acceptance, easy secure access to credit card accounts anytime through both “Arabi Mobile” and the bank’s internet banking service, “Arabi Online”, in addition to a range of ongoing marketing offers that the Bank launches and announces throughout the year.

Arab Bank was the platinum sponsor of the 8^th Jordan “Science and Art Days” festival, which was held for three days at the Children’s Museum. The event targeted children between the ages of 4 to 12 years and was attended by over 5,000 parents and their children.

Arab Bank’s support of this festival comes as part of its CSR program “Together”, which addresses a range of different aspects that align with the values of citizenship and social responsibility. The bank seeks to continuously collaborate with the Children’s Museum in line with its efforts to support targeted educational and awareness-raising programs and initiatives.

The festival, which is organized annually by the museum with the support of Arab Bank, included a wide variety of activities and entertaining theatrical performances in science, art and literature, and over 40 interactive workshops. These activities aimed to instill a love of learning in children, nurture their curiosity and imagination based on interaction, exploration in addition to analytical thinking and innovation, including teaching children to create their own toys and crafts, various workshops on robotics and technology, carpet-making techniques and graphic printing, and watching short films about planets and stars in the planetarium. The activities range from games and challenges to reading stories, learning about plants, planets, the marine world, and other interesting and enjoyable topics. The content and activities were presented in collaboration with multiple educational institutions and education experts who provided the workshops’ content, activities, and shows for children.

The Children’s Museum Jordan is a non-profit educational organization established by Her Majesty Queen Rania Al Abdullah in 2007. Located in Al Hussein Public Park, the Museum has over 190 interactive indoor and outdoor exhibits and learning facilities that include a library, an art studio, a laboratory, and a secret garden. It offers educational programs and celebrations around the year.

Arab Bank recently expanded its strategic partnership with the Jordan Football Association (JFA), to be the main sponsor of all national teams for the duration of three years.

His Royal Highness Prince Ali Bin Al Hussein, President of JFA, recognized the expanded partnership with Arab Bank, signifying his respect for this long-lasting and enduring relationship with one of the most important and widely spread banking institutions regionally and globally. An institution that provided unwavering support for Jordanian football since 2011, aiming at supporting youth talents and reinforcing sports development.

The Secretary General of JFA, Samar Nassar, explained that the expanded partnership with Arab Bank will span the next three years, becoming the main sponsor of all national football teams including the men's and women's teams, "Al Nashama" and "Al Nashmeyat," respectively. The sponsorship also encompasses national teams across all age groups, Football for Schools, , and local professional competitions.

Ms. Nassar emphasized that the strengthened partnership with Arab Bank stems from JFA's commitment to excellence and strategic collaboration. By forging robust and enduring partnerships, JFA provides sponsors with unique marketing and branding opportunities, expanding their reach to football enthusiasts and nurturing the financial stability of the entire football ecosystem.

She added: "Over the past 13 years, we have shared incredible milestones with Arab Bank witnessing remarkable moments in Jordanian football together, such as being qualified to the finals of the AFC Asia Cup 2023 and reaching the World Cup 2014 qualifying playoffs. And today, we embark on an even stronger partnership with the best bank in the Middle East in 2024, as it becomes the main sponsor of our national teams. Hand in hand, we move towards our shared dream; reaching the World Cup 2026."

From her side, Ms. Randa Sadik, Arab Bank’s CEO expressed her pride in expanding this long-standing partnership with the Jordan Football Association, which reflects the deep-rooted relationship between Arab Bank and JFA as well as the national teams who have proved remarkable performance in various Asian and international tournaments.

Ms. Sadik added: “This step reflects our unwavering support for Jordanian football. We are eager to continue our partnership with JFA, an organization that consistently fosters investment in this sector and exemplifies successful collaboration. Together, we are confident in achieving even greater accomplishments.”

Arab Bank, headquartered in Amman - Jordan, was established in 1930 and has one of the largest global Arab banking networks with over 600 branches. Arab Bank’s extensive network covers key financial markets and centers such as London, Singapore, Shanghai, Geneva, Paris, Sydney, Dubai, and Bahrain.

As part of the ongoing collaboration between Arab Bank and Tkiyet Um Ali (TUA), the bank renewed its cooperation agreement with Tkiyet Um Ali for the year 2024 to support TUA’s families living below the food poverty line across all governorates in the Kingdom.

Through this agreement, Arab Bank will continue to support 102 families of TUA’s underprivileged beneficiary families over the course of a year, providing monthly food parcels that contain essential food items carefully selected to ensure a balanced and healthy nutrition for the beneficiary families. Each parcel contains 20 food items that include all the basic nutritional elements to fulfill the needs of a family and are sufficient to prepare three meals per day throughout the entire month. The agreement will also provide Arab Bank’s employees with the opportunity to volunteer in various programs and activities organized by Tkiyet Um Ali across the Kingdom.

This initiative reflects Arab Bank's ongoing commitment to helping underprivileged segments and families in need across all governorates. This comes in line with the bank’s social responsibility strategy through supporting various programs and initiatives that aim to achieve sustainable development and enhance the social and economic well-being of local communities.

Expressing his gratitude for Arab Bank’s continuous support, Director General at Tkiyet Um Ali, Mr. Samer Balkar, stated: “We take pride in our cooperation with Arab Bank for the 16^th consecutive year, which comes in line with the bank’s commitment to support our efforts in combating food poverty”. Mr. Balkar added: “Tkiyet Um Ali works diligently to provide sustainable food aid to those in need across the kingdom. We believe in working closely with big corporations and entities such as Arab Bank, which will help Tkiyet Um Ali to achieve these goals, and we look forward to collaborating with more partners in our programs”.

Tkiyet Um Ali provides monthly sustainable food support to underprivileged families living in extreme poverty in all provinces and governorates across the Kingdom. The families receive monthly parcels containing food items that include all the basic nutritional elements, which fulfill the needs of a family for the entire month.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social, and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

Arab Bank was recently the strategic sponsor of the “Environmental, Social and Governance (ESG) Standards in the Financial Sector” forum, which was held at the InterContinental Hotel in Amman under the patronage of the H.E. Governor of the Central Bank of Jordan, Dr. Adel Sharkas. The forum was organized by the Union of Arab Banks (UAB) in cooperation with the Central Bank of Jordan and the Association of Banks in Jordan. Attended by a large number of bankers, economists, business representatives and experts from Jordan and the region, the forum aimed to shed light on key topics in this field and reinforce the foundations of ESG Standards across the banking sector, and its integration into the financial services.

The two-day forum included a series of in-depth panel discussions led by central and commercial banks. The sessions covered topics related to the foundations of ESG standards in financial services, ESG banking challenges, assessing impacts of climate risks with advanced analytics and managing them by banks & financial institutions, integrating environmental standards into financial practices, and discussing technology solutions for ESG scoring and their opportunities and challenges. Additionally, a session was hosted to discuss the Jordanian experience in green finance, whereas the closing session tackled the future of ESG and climate risk management. The forum’s speaker list included leaders in sustainability and ESG divisions of banks, as well as experts and analysts in this field. 

Arab Bank's strategic sponsorship of this forum comes as part of its constant commitment to supporting banking conferences and events, as well as keeping abreast of the latest policies, laws and legislations related to the environmental, social, & governance (ESG) standards in the financial sector, following the best practices and recommendations in this field. 

For the third consecutive year, New York-based international publication “Global Finance” has ranked Arab Bank Innovation Hub (AB iHub) among the “World’s Best Financial Innovation Labs” as part of the magazine’s “Innovators 2024” Awards.

AB iHub was chosen by a global panel of judges, which included experts in consulting and outsourcing, in addition to the magazine’s team of editors, who selected the winners based on specific criteria which included the entrepreneurial efforts of financial institutions, their commitment to supporting and developing innovation in the financial technology sector, and their concrete actions to develop banking services and solutions that align with the increasing demand in digital services.

Commenting on this award, Eric Modave, Deputy CEO/ Chief Operating Officer, said: "This global recognition underscores our bank's commitment to continuously innovate, internally and with partners, by leveraging latest technologies." Modave added: “We are dedicated to fostering a culture of innovation within the bank by collaborating with our FinTech partners to develop cutting-edge banking solutions that meet the evolving needs of our diverse customer base."

It's worth mentioning that Arab Bank’s Innovation Hub (AB iHub), established in 2018, is a multi- purpose co-creation space that encourages open innovation and collaboration in fostering new ideas, prototyping, and experimentation related to the FinTech industry. AB iHub pushes the boundaries of collaboration by redefining the traditional concept of workspace, bringing together Arab Bank employees and startups to transform raw ideas into rapid prototypes.

Arab Bank has also received several international recognitions during the year, most notably the “Best Bank in the Middle East 2024” award for the ninth consecutive year by New York-based Global Finance Magazine.

Arab Bank has recently launched a special promotional campaign for housing loans, offering its customers who wish to own a property, including Jordanian expats, the ability to receive a mortgage loan with competitive benefits and preferential terms during the summer.

Through this campaign, Arab Bank will cover the value of the first two installments of the housing loan up to a JOD 5,000 and financing up to 100% of the property value at a preferential interest rate, with the bank covering mortgage and appraisal fees without loan granting commission.

Customers can use the "Bayti” service, first of its kind in Jordan, which allows them to apply for a housing loan and obtain pre-approval within minutes through the "Arabi Mobile" app. Through this service, customers can also search for properties online, conduct proper financial planning, and calculate loan amounts based on their financial capabilities according to pre-defined criteria, including property size, location, and other filters.

Commenting on the campaign, Mr. Yacoub Matouk, Head of Consumer Banking at Arab Bank – Jordan, said: "We continuously seek to provide our customers with a distinctive digital banking experience and value-added offers that meet their needs and suit their lifestyle." He added: “This campaign comes as part of Arab Bank’s constant effort to provide flexible financing solutions that reward its existing and new customers and enable them to own the property of their choice with competitive advantages that reduce the financial burdens.”

It is worth mentioning that Arab Bank provides a host of comprehensive financing solutions to its customers, which entail housing, personal and auto loans with competitive benefits that include loan amounts in line with the customer’s needs, flexible installment periods and competitive interest rates all within easy and efficient processes in addition to a dedicated customer service team.

Arab Bank has recently launched a special promotional auto loan campaign on electric cars as part of its constant efforts to provide its customers with value-added banking services and promotions in line with their expectations and diverse needs.

The Campaign comes in line with Arab Bank's ESG strategy to reinforce the bank’s commitment to providing green financing solutions while raising environmental awareness and promoting eco-friendly practices in parallel.

The campaign, which will run until 31 December 2024, allows customers who desire to purchase any electric car, new or used, to benefit from many exclusive privileges. This includes the bank covering the first installment up to JOD 300, financing of up to 100% of the car’s value and preferential interest rate.

Commenting on this offer, Mr. Yacoub Matouk, Head of Consumer Banking at Arab Bank – Jordan, said: “We continuously seek to provide our customers with competitive financing solutions through value-added offers and campaigns that are in line with their expectations and financial needs.” He added: “The new campaign offers a unique opportunity for our customers to own an electric car of their choice while benefiting from an array of exclusive privileges and flexible features in line with the bank’s efforts to promote environmentally friendly solutions.”

 It is worth mentioning that Arab Bank’s auto loans offer a wide range of benefits in addition to a dedicated customer service team around the clock, the ability to finance multiple cars, including new and used cars according to the bank’s terms and conditions. The bank also offers customers the ability to easily apply for a loan online through the bank’s digital banking channels that include Arab Bank’s website, the “Arabi Mobile” app and its internet banking service “Arabi Online”.

Arab Bank Group reported solid results for the first half of 2024, with 25% increase in net income after tax reaching $503 million as compared to $401 million for the same period last year. The Group maintained its strong capital base with a total equity of $11.5 billion.

Assets grew by 5% reaching $68.7 billion and at constant currency, the Group’s loans grew by 8% to reach $38.1 billion, and deposits grew by 6% to reach $50.5 billion.

Mr. Sabih Masri, Chairman of the Board of Directors, stated that the solid financial performance during the first six months underscores the successful execution of the bank’s prudent risk practices, diversified business model and its focus on core banking activities. Mr. Masri emphasized on the Group’s ability to continue achieving robust performance which reinforces its leading position in the market.

Ms. Randa Sadik, Chief Executive Officer, stated that the strong financial results reflect the bank’s robust assets base and strong capitalization. Ms. Sadik highlighted that the bank’s net operating profit grew by 11% driven by core banking activities coupled with controlled operating expenses. The bank continues to implement its digital strategy, expanding the offering of innovative digital solutions across the bank’s various business segments.

Ms. Sadik added that the bank’s balance sheet strength, solid capitalization, and high liquidity levels have well positioned the bank for sustainable growth. The Group’s loan-to-deposit ratio stood at 75.4% and credit provisions held against non-performing loans continue to exceed 100%. Arab Bank Group maintains a strong capital base that is predominantly composed of common equity with a capital adequacy ratio of 17.5%.

Arab Bank has recently received the “Best Bank in the Middle East 2024” award from New York-based international publication “Global Finance”, for the ninth consecutive year.

Arab Bank has recently launched the "Recycled Art Initiative" in collaboration with the Children's Museum Jordan. This initiative aims to highlight the importance of environmental conservation by encouraging waste recycling practices to mitigate harmful environmental impacts. This comes as part of Arab Bank's social responsibility program "Together", which supports efforts and initiatives aimed at achieving sustainable development within the local community, including environmental protection.

The initiative involves the design and manufacture of two artistically designed containers to collect recyclable materials. These containers will attract children and families visiting the museum, encouraging them to collect plastic and paper waste. The collected materials will then be utilized in various activities within the initiative, promoting the adoption and application of waste sorting and recycling practices in their homes.

Two art activities will be conducted with children inside the museum. The first activity will teach them how to reuse paper by creating a paper mache paste, which will be used to sculpt a large model of an Arabian oryx. The second activity will demonstrate how to utilize plastic bottle caps to create an expressive geometric artwork based on circles and geometric shapes, aiming to enhance mental well-being and stimulate focus and creativity.

Commenting on this initiative, the Director of the Children's Museum, said: "We thank Arab Bank for its continuous support of the Children's Museum and its belief in the positive impact the museum has on its visitors. Through this initiative, we hope to play an active role in raising awareness about the environmental challenges that pose a significant threat to our well-being and the well-being of future generations if not addressed appropriately."

The Children’s Museum Jordan is a non-profit educational organization established by Her Majesty Queen Rania Al Abdullah in 2007. Located in Al Hussein Public Park, the Museum has over 190 interactive indoor and outdoor exhibits and learning facilities that include a library, an art studio, a laboratory, and a secret garden. It offers educational programs and celebrations around the year.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social, and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

Reflect by Arab Bank has launched its "Hek Hek Rabhan" campaign, offering customers the chance to win valuable prizes throughout the year. This campaign comes as part of Reflect’s constant efforts to provide unique programs and special offers and campaigns to its customers in line with their needs and lifestyle, encouraging them to use the app and benefit from its diverse banking and lifestyle features.

The new campaign offers Reflect app users ongoing opportunities to win over 300 prizes. This includes multiple draws for three MG5 cars, and 43 monthly prizes including a wide range of electronics like laptops, smartphones, smartwatches, and video game consoles. This is in addition to fully-paid trips to Aqaba, a Vespa scooter, and shopping vouchers from various merchants such as Manaseer Station, DNA, City Mall, and Careem, in addition to gold and cash prizes.

Commenting on the campaign launch, Mr. Talal Al-Radaideh, Head of Reflect - Jordan, said: "We continuously seek to reward our customers through added-value campaigns and offers that meet their needs and expectations, and suit their lifestyle." He added, "The new campaign offers all Reflect app users the chance to win multiple prizes, aiming to reward them for their loyalty and encourage them to benefit from the host of services and privileges offered by Reflect."

Reflect offers customers many privileges, including the ability to request the Reflect credit card immediately upon opening an account after verifying the availability of specific, simple conditions in a quick manner. It is not necessary to transfer the salary to the Reflect account to obtain it, but customers who have transferred their salaries are granted a higher credit limit. The credit card gives its holders a 3% cashback on all transactions, in addition to benefiting from the convenient payment program with a repayment period of up to 24 months without interest at selected stores and shops. Reflect customers who have an activated e-wallet account can also issue a Reflect card for direct payment with the utmost ease through the app, as the card provides exclusive banking benefits and services including a cashback of 1% and a maximum of 3 dinars per month for each banking transaction carried out by the customer to be credited to his account in the form of loyalty points. Reflect also introduced two new services which are the “Instant Loans” and “Account Opening for non-Jordanian Residents in Jordan” within the diverse offering of digital features in the app. The “Instant Loans” feature provides the ability to obtain short-term personal loans digitally through the Reflect application by following simple and quick steps with a value starting from 300 Jordanian dinars as a minimum and reaching 6,000 Jordanian dinars as a maximum. The customer can also repay the loan value for a period of up to 60 months and is not required to transfer his salary to be able to obtain the loan. The “Opening an Account for Non-Jordanian Residents in Jordan” service, which enables residents of Jordan of other specific nationalities to open an account on the Reflect application within easy and facilitated steps and simple documents. This is in addition to a wide range of features  such as enabling customers to manage their personal financial goals and coordinate the appropriate savings plans according to their needs and personal goals. 

Reflect is available for download through AppStore, Google Play, and Huawei AppGallery.

Arab Bank has recently released its annual Environmental, Social, and Governance (ESG) Report for the year 2023. The Report comes as part of the bank’s commitment to issuing annual sustainability reports.

Arab Bank’s 14th Annual Sustainability Report features its achievements during 2023 on the environmental, social, and governance (ESG) fronts. The Report also highlights the bank’s ongoing efforts and contributions toward realizing the United Nations Sustainable Development Goals (SDGs) through the different initiatives supported and participated in by the bank. This edition reflects Arab Bank’s commitment to transparency as it includes two additional markets, Palestine and Egypt, alongside Jordan, providing a clear and transparent vision of the bank’s contributions and impact on this front.

The Report covers Arab Bank’s comprehensive ESG strategy launched in 2023, which was built on a foundation of pragmatism aligning with the bank’s deep-rooted values. Through its ESG strategy, the bank seeks to reaffirm its commitment to addressing climate change and supporting sustainable and inclusive community development. It also highlights the bank’s efforts in promoting responsible financing through its sustainable financing framework, which was used to successfully complete the issuance of a USD 250 million in Additional Tier 1 (AT1) Capital Securities. This issuance reflects the bank’s innovative approach to sustainable financing and its commitment to supporting the transition to a low-carbon economy by financing green infrastructure projects and providing financial solutions that contribute to a more sustainable future.

The Report additionally presents the bank’s efforts to reduce the environmental impact of its internal operations by adopting sustainable practices within the institution. This includes saving 90% of its electricity consumption in Jordan sourced by renewable energy projects and the launch of its material usage and waste management strategy.

The Report also covers the bank’s internal digital transformation initiatives, and its efforts in human capital development and gender equality as demonstrated in the bank’s Women Empowerment Strategic Framework, which was launched in 2023. It additionally illustrates the bank’s CSR initiatives aimed at supporting the local community while achieving sustainable development through various community investments, employee volunteering contributions, and customer donations enabled through several channels. This comes in line with the bank’s commitment to its social responsibility and embodies the values of responsible citizenship and community participation.

The ESG Report has been prepared in accordance with the Global Reporting Initiative (GRI) Standards, which was used to review the content index - an essential service to ensure the index is in alignment with GRI standards.

Arab Bank’s 2023 ESG Report can be viewed here.

Arab Bank has recently launched the “Digital Collection Management” service through its "Arabi Connect" platform as a first-of-its-kind service offered exclusively for corporate customers. The new service provides innovative solutions that facilitate direct collection and settlements. The launch of this new service comes as part of Arab Bank’s innovation strategy and reflects its ability in providing the latest digital banking services and solutions within the highest levels of efficiency and effectiveness.

The new “Digital Collection Management” service offers corporate customers the ability to instantly create and personalize online account per client to facilitate payment tracking easily and securely, without the need for time-consuming manual auditing and settlement. The new service also enables linking the online accounts to the main business account, automatically transferring receivables from sub-accounts. This is in addition to many other benefits such as the ability to create multiple online accounts linked to the company’s main account in advanced and user-friendly ways allowing multi-currency acceptance. The new service also offers generated advanced reports, CLIQ payments, as well as local and international transfers.

Commenting on the new service, Mr. Rami Abu Alteen, Head of Corporate and Financial Institutions - Jordan at Arab Bank, said: "The launch of this new service as a first-of-its-kind in Jordan reflects the bank’s constant commitment toward adopting the latest advancements in the banking industry to seamlessly enhance our corporate customers’ experience within the highest levels of compliance and security.” He added: “The Digital Collection Management service is a seamless and secure value-added service to the host of digital services offered by Arab Bank through its “Arabi Connect” platform that offers customers a comprehensive and integrated banking experience in line with their needs and expectations.”

It is worth mentioning that the “Arabi Connect” platform offers a host of privileges designed specifically to provide Arab Bank’s corporate customers with flexibility and ease to carry out their banking transactions around the clock from anywhere. The platform offers many benefits including direct access to accounts, local and cross-border account management and reporting, cash and liquidity management, and much more. “Arabi Connect” platform is a leading digital solution offered to corporate customers in line with the latest advancements in the banking industry.

Arab Bank has renewed its collaboration agreement with the Jordan Air Ambulance Center for the eight consecutive year as part of the bank’s social responsibility program. This cooperation aims at supporting the center in raising the standard of medical services across the Kingdom.

Through the agreement, Arab Bank will support the Jordan Air Ambulance Center in its services, including the transportation of patients and injured persons aerially from remote locations to specialized medical centers, through search and rescue missions using helicopters. This will ensure better treatment in emergency situations.

Commenting on the bank’s support, CEO at Jordan Air Ambulance Center, Captain Ahmad Marwan Wattar, reaffirmed the vital role of the private sector in supporting the center’s humanitarian and medical services, which positively impact the ability to expand its beneficiary base to those in need. He added that the center takes pride in its collaboration with Arab Bank, setting a true example to the joint responsibility of the public and private sector in providing citizens with access to life-saving medical services.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social, and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

Arab Bank has released an updated version of “Reflect”, introducing "Instant Loans" and "Account Opening for Non-Jordanian Residents" as part of the diverse range of digital features offered on the app. This release reflects the bank's commitment to keep up with the latest updates for its customers to meet their financial needs and expectations and provide them with a seamless and innovative banking experience.

The latest update automatically installs on the phones of Reflect existing users to include two new features; which are “Instant Loans” that allow customers to obtain short-term personal loans digitally through the app, in simple and quick steps. Loan amounts range from a minimum of 300 JD up to 6,000 JD, with installment terms reaching up to 60 months, where salary transfer is not prerequisite to obtaining the instant loan. The second new feature is “Account Opening for Non-Jordanian Residents” service which enables residents of other specified nationalities to open "Reflect" accounts through easy steps with minimal documentation requirements. Non-Jordanian residents can also benefit from a wide range of features offered by "Reflect”; this includes the ability to create multi-currency sub-accounts, and fund them to be able to use it for shopping in multiple currencies. Users can also issue "Reflect" debit cards, benefit from (Cliq) payment, and access exclusive offers and discounts being offered by the app, additionally they can pay through the QR code payment feature on "Reflect" app.

Reflect also offers customers many privileges, including:  the “Buy now Pay Later” feature enabling customers to purchase with a maximum limit of 1,000 JD and pay the down payment using a QR code on the app at selected, and then install the remaining amount equally over a period of three months with zero interest fees. Customers with an active Reflect wallet are also able to benefit from issuing the new Reflect debit card easily through the app, which offers a host of exclusive banking privileges and services, including 1% cashback with a limit of JOD 3 monthly per transaction, added directly to the customer’s account as loyalty points.

Customers can also request to issue “Reflect” credit cards instantly and effortlessly, and upon meeting simple requirements. Salary transfer to the (Reflect) account is prerequisite to obtaining the credit card, but customers who transfer their salaries are granted a higher credit limit. Reflect credit card offers its holders 3% cashback on all transactions, in addition to benefiting from the Easy Payment Plan with installment terms of up to 24 months at zero interest at select stores and shops.

Reflect also provides exclusive offers and discounts personalized to each customer’s lifestyle and interests, in addition to many other features including: bill payments service, money transfers between pre-registered customers, the ability to shop online through the “Marketplace” saving customers’ time and effort, as well as the ability to set a savings plan based on personal needs and objectives. Users also enjoy the ability to withdraw and deposit cash daily using the contactless feature available on Arab Bank ATMs, the ability to benefit from the special loyalty program allowing customers to earn and redeem loyalty points in several ways including cash with zero fees or by using the points directly on the app, and many other benefits.

The new version of the app is available through AppStore, Google Play, and Huawei AppGallery.

Arab Bank was the platinum sponsor – exclusive bank of the 1^st European Union-Jordan Business Forum, titled "Digital and Green Jordan: Pioneering the Future of Business”, which was held at the Four Seasons Hotel Amman under the patronage of His Royal Highness Crown Prince of Jordan, Al Hussein bin Abdullah II. The forum was organized by the Jordan Europe Business Association (JEBA) in collaboration with Ministry of Investment and the embassy of the European Union in Jordan, and the Crown Prince Foundation. The forum was attended by top-tier European and local investors, as well as several business owners and CEOs.

The forum provided a vital networking platform for private sector operators selected by Jordan and the European Union fostering networking opportunities and exploring potentials for co-investment in promising Jordanian ventures associated with EBRDs and EIBs. It aims to strengthen economic ties between Jordan and Europe, offering a unique opportunity to engage with a global audience while driving cross-continental business development.

The forum featured a high-profile agenda that included panel discussions on strategic discussions such maximizing the potential of Jordan exports to the EU market, a Plenary Session titled "Accelerating Foreign Direct Investments in Jordan", strategic speeches on Jordan’s Investment roadmap to stimulate growth, and discussions on the role of European financial institutions in leveraging investments. The agenda also covered key topics such as renewable energy, clean technology, digital technology, and means of accelerating industrial operations while enhancing the food industry.

Arab Bank’s strategic sponsorship of this forum comes as part of its constant commitment towards supporting events and forums aimed at presenting the latest developments and updates in sustainability and financial technologies and innovations at business and economic levels, helping to accelerate investments and improve the sustainable development. 

Arab Bank has recently sponsored the second edition of "Tawasol 2024” – A Dialogue on Realities and Aspirations" forum. Organized by the Crown Prince Foundation at the King Hussein Business Park, the event took place under the patronage and presence of His Royal Highness Crown Prince Al Hussein bin Abdullah II.

The forum witnessed a wide participation of decision-makers, young activists, and youth leaders. It provided a platform for interactive dialogues aimed at exchanging ideas and visions on crucial national issues that reflect the realities and aspirations of Jordanian youth and society.

The forum included a series of panel discussions covering a wide range of topics relevant to various segments of society, particularly youth, including education, economy, politics, and society. The forum also provided an opportunity for young people to express their opinions, present their ideas and proposals to decision-makers. In turn, the decision-makers shared their expertise, enriching the discussions and offering diverse perspectives.

Arab Bank's sponsorship of this forum comes as part of its constant commitment toward supporting youth initiatives. The bank actively seeks to support activities and events that contribute to building youth capacities and developing their leadership skills, which in turn enhances their role in society and empowers them to participate positively in the development and progress journey.

Arab Bank participated in "Tawasol 2024" forum through a dedicated booth for its "Shabab" program. The booth featured a range of interactive activities designed to stimulate positive thinking among the youth and encourage a spirit of initiative and entrepreneurship. The booth witnessed high visitation from young attendees who engaged with the various interactive and educational activities.

Arab Bank recently participated as a strategic sponsor of the Second Business and Digital Economy Conference and Forum 2024, held at the Business School of the University of Jordan. The event was under the patronage and attendance of the President of the University of Jordan, H.E. Dr. Nathir Obeidat, and the Minister of Digital Economy and Entrepreneurship, H.E. Mr. Ahmad Hanandeh. The conference was attended by over 300 researchers and experts in business and digital economy from Jordan and abroad, aiming to discuss key challenges in this field and delve into aspects shaping the future of business and digital.

Commenting on the event, The President of the Conference, Dr. Ra’ed Masa’deh Bani Yaseen - Dean of the Business School, said: "The three-day conference included a series of in-depth discussions that addressed several topics, including the future of business and digital economy in Jordan, the diversity of scientific research methods to enhance quality, impact, and publish ability, as well as  ways to explore concepts and opportunities for research collaboration. The sessions also covered seven tracks related to the digital economy, including business management, accounting, finance, marketing, information systems, public administration, and business economics. The conference also featured speakers that are renowned experts in this field."

Arab Bank's sponsorship of this event is part of its constant commitment to supporting conferences and events that keep pace with the latest technical advancements and digital innovations in business and economics. This aligns with the bank's strategy and ambitious vision, where digital transformation plays a central role.

The Union of Arab Banks has named Ms. Randa Sadik, Arab Bank’s Chief Executive Officer, the Arab Banker of the Year 2024.

The honoring took place during the opening of the International Arab Banking Summit, which was organized by the Union of Arab Banks in Istanbul on May 23rd and 24th.

Ms. Randa Sadik was honored in recognition of her substantial contributions to the development of the Arab banking sector, fostering banking relations among Arab and global markets. As CEO of Arab Bank, one of the most prestigious banks in the region that has one of the largest global Arab banking networks, Ms. Sadik has played a pivotal role in driving economic and social development within the region.

Ms. Sadik assumed the position of Chief Executive Officer at Arab Bank in 2022, after serving as Deputy CEO since 2010. Her banking career spans 38 years, commencing in 1986 at National Bank of Kuwait. During her 24-year tenure there, she held various leadership roles, the last of which was the General Manager of the International Banking Group in London and Kuwait. 

It is worth noting that Ms. Sadik was ranked sixth on Forbes Middle East’s list of the 100 most powerful businesswomen in the Middle East for 2024.   

Ms. Sadik holds an MBA degree from the American University of Beirut.

In light of the remarkable success of the financial literacy programs launched by Haya Cultural Center with the support of Arab Bank over the years, the bank exclusively sponsored the design and launch of an innovative program titled “My Digital Money Box”. The new program aims to spread and enhance financial literacy among students in an interactive manner and introduce them to the latest technology concepts. The program is set to reach around 300 students across 20 public schools and NGOs in the Kingdom.

Arab Bank’s support for the program comes as part of its social responsibility strategy and efforts in raising financial literacy awareness across different segments of the local community. The bank continuously seeks to promote financial literacy among children and equip them with basic financial knowledge.

The program, which spans over 20 weeks, integrates both art and technology in designing a smart digital money box, targeting a new group of children each week. The children will design their own smart digital money box using the skills they gained from the program, such as creative mechanics, Arduino, programming, and various art skills. This money box is unique in its ability to calculate and read the amount of money inside it, in addition to being equipped with a four-digit pin. The program also aims to introduce the students to the basics and importance of saving and teach them how to manage money properly from a young age.

Commenting on the program launch, Ms. Reem Al-Adwan, Executive Director of Haya Cultural Center, expressed her pride in renewing the collaboration with Arab Bank, praising the bank’s continuous support for implementing educational and interactive programs that contribute to building an educated and innovative generation. She further expressed her gratitude to Arab Bank for its support in reaching a diverse group of children through the “My Digital Money Box” program, which aims to enhance financial awareness in innovative and interactive ways, building on the success achieved by the center’s “Art of Saving” program with support from Arab Bank.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social, and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

Established in 1976, Haya Cultural Center is the first non-profit cultural institution dedicated to enhancing children's abilities and skills in various cultural, academic, educational, and social aspects, fostering creativity, and honing talents.

Arab Bank has recently received the “Best Bank in the Middle East 2024” award by New York-based international publication “Global Finance”, for the ninth consecutive year.

This global recognition was made by the editors of Global Finance after extensive consultations with corporate financial executives, banking consultants, and analysts throughout the world.

Global Finance considered several factors when selecting top banks, including asset growth, profitability, geographical coverage, strategic alliances, product innovation, and market expansion endeavors. The evaluation criteria also included the opinions of equity analysts, credit rating analysts, banking consultants, and industry participants.

Global Finance Awards cover more than 150 countries, territories and districts across Africa, Asia-Pacific, the Caribbean, Central America, Central and Eastern Europe, Latin America, the Middle East, North America, and Western Europe. 

Commenting on this recognition, Ms. Randa Sadik, Arab Bank’s Chief Executive Officer, said: "This global recognition for the ninth consecutive year is a testament to Arab Bank’s leading position across the MENA region banking landscape, reinforced by the bank's robust business model and its ability to achieve solid results despite regional and global challenges." Ms. Sadek added: “Through our established institutional approach and ambitious strategy, we are committed to providing integrated banking services across various sectors, delivering a comprehensive banking experience for customers supported by the latest digital banking solutions, both locally and regionally. "

It is worth mentioning that The Banker Magazine, owned by the Financial Times and based in London, has also named Arab Bank as Bank of the Year in the Middle East for 2023. 

Arab Bank, headquartered in Amman - Jordan, was established in 1930 and has one of the largest global Arab banking networks with over 600 branches. Arab Bank’s extensive network covers key financial markets and centers such as London, Singapore, Shanghai, Geneva, Paris, Sydney, Dubai, and Bahrain.

Arab Bank continued its support for the Queen Rania Foundation's "Read!" project, which aims to build and support a culture of reading in Jordan by rehabilitating and renovating school libraries. The project provides suitable and engaging books and stories for students in grades 1-6, in addition to providing training and development for the educational staff.

Arab Bank's support for this project comes as part of its social responsibility, particularly in supporting the education sector for ongoing efforts to develop the educational environment across the Kingdom's schools. Arab Bank’s employees volunteered to support the project by visiting the "Read!" library at the Western Shmeisani Elementary School, where they read books to the students and delivered interactive activities.

The "Read!" project is a school library project implemented by the Queen Rania Foundation in partnership with the global non-for-profit “Room to Read”. Room to Read is dedicated to supporting a culture of reading among children, with a focus on supporting children around the world to improve their language skills and build a reading habit. Since its launch, the "Read!" project has renovated more than 43 libraries, trained more than 250 teachers on activating reading activities in the library, and distributed more than 50,000 books. This has contributed to encouraging children to read and promoting a culture of reading across the Kingdom's schools. The project's results are reflected in the number of books borrowed, with more than 26,000 books borrowed from the project's schools, and the number of beneficiaries reaching more than 114,758 students to date.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social, and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

On the occasion of Arab Financial Inclusion Day, which falls on April 27th each year, Jordan Children's Museum Jordan (CMJ) with the support of Arab Bank, organized a special program that aims to raise financial literacy awareness among children. The program activities took place over the course of two days, April 26-27.


Arab Bank's support of this program comes as part of its social responsibility program “Together” and is in line with its efforts toward contributing to education and awareness programs directed at Children. This includes the Arab Financial Inclusion Day that falls under the “Community Connections” program launched by CMJ in 2012. The activities aimed to introduce children to financial planning concepts and daily terms, such as saving, budgeting, bank accounts, currencies, and others, and enable them to manage their own finances. Arab Bank participated in the program through a booth dedicated for "Arabi Junior" program, and a “meet and great” session delivered by an Arab Bank employee to share his experience in the banking industry and its importance in our daily lives and how the children can benefit from the financial services offered by banks. 


The program, which was attended by more than 1,700 visitors, included activities focused on teaching and training children about financial matters, starting with their experience in a lemonade marketing activity, followed by a challenges and science activity in which children learned about the diversity of coins. Additionally, it entailed a "Plastic Wallet" activity where children made wallets from plastic bags, aiming to promote both money management and environmental conservation. This is in addition to the “Bill Challenge” and many more financial literacy related activities. 


The Jordan Children's Museum is a non-profit educational institution launched by Her Majesty Queen Rania Al Abdullah in 2007. The museum is located in Al Hussein Park and has more than 190 interactive educational exhibits inside its exhibition hall and in its outdoor courtyard, as well as educational facilities including a library, art studio, and secret garden. It also offers educational programs, events, and performances throughout the year.


It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social, and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

Arab Bank Group reported solid results for the first quarter of 2024, with 17% increase in net income after tax reaching $252.8 million as compared to $216.3 million for the same period last year. The Group maintained its strong capital base with a total equity of $11.3 billion.

At constant currency the Group’s loans grew by 7% to reach $37.1 billion, and deposits grew by 6% to reach $49.8 billion.

Mr. Sabih Masri, Chairman of the Board of Directors, stated that Arab Bank’s first quarter 2024 performance was strong despite the challenging environment for banks globally and regionally. He also added that the results reflect the bank’s resilience and ability to deliver sustainable growth from multiple markets mainly from the GCC region. Mr. Masri expressed his confidence in the bank’s ability to continue to grow based on its sound strategy, while maintaining the strength of its balance sheet.

Ms. Randa Sadik, Chief Executive Officer, stated that Arab Bank delivered robust results during the first quarter 2024, where the bank’s net operating profit grew by 10% driven by increase in core banking income across various sectors and markets, with a clear focus on enhancing non-interest income contribution and revenue diversification.

Ms. Sadik added that the Group’s liquidity and asset quality remain solid where loan-to-deposit ratio stood at 74.5% and credit provisions held against non-performing loans continue to exceed 100%. Arab Bank Group maintains a strong capital base that is predominantly composed of common equity with a capital adequacy ratio of 17.8%.

Ms. Sadik emphasized on the bank’s commitment towards innovation and digital transformation, highlighting the bank’s ongoing investment in technology and its strategic focus on customer-centric innovations offering seamless banking experiences to customers across various sectors.

Arab Bank was the exclusive sponsor of the first edition of “Bil Arabi" festival, which was held over five days at the Children's Museum. The festival aimed to highlight the Arabic language and enrich Arabic content aimed at children, as well as Arab scientific and artistic content, and to honor the role of writers and artists. The event targeted children between the ages of 4 and 12, with over 4,800 visitors attending including parents and children.

Arab Bank's support for this festival comes as part of its social responsibility program, which focuses on a variety of areas that align with the values of citizenship and social responsibility. The bank is keen on collaborating with the Children's Museum in line with its efforts in supporting children through a range of programs and educational initiatives directed at them.  

Arab Bank’s participation also included a special booth for "Arabi Junior" program, in addition to a corner dedicated to the "Dar Al Ma'arifa" library, which is affiliated with the Abdul Hameed Shoman Foundation, Arab Bank's cultural and social responsibility arm. This aimed to instill the children’s love for the Arabic language and encourage reading among them. A group of Arab Bank employees also volunteered to take part in the cultural activities in an interactive and educational atmosphere.

The festival, which was organized by the Children's Museum with the support of Arab Bank under the patronage of the Ministry of Culture and in cooperation with Dar Kalila wa Dimna Publishing, included a diverse range of activities aimed at promoting and enriching the Arabic language among children. This included an Arabic children's books exhibition with the participation of a group of Jordanian and Arab publishing houses to encourage the children to read in Arabic, as well as many literary, artistic, and scientific activities presented by a group of Arab creators and artists. This is in addition to a special booth showcasing educational products for children developed by local and Arab institutions.

The Children’s Museum Jordan is a non-profit educational organization established by Her Majesty Queen Rania Al Abdullah in 2007. Located in Al Hussein Public Park, the Museum has over 190 interactive indoor and outdoor exhibits and learning facilities that include a library, an art studio, a laboratory, and a secret garden. It also offers year-round educational programs and celebrations.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social, and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

As part of its social responsibility program “Together”, and in collaboration with Tkiyet Um Ali (TUA), Arab Bank participated in several volunteering programs during Ramadan with the aim of supporting underprivileged families.

Through this collaboration, a group of Arab Bank employees participated across four initiatives within the food parcels packaging volunteering program, helping with distributing food parcels to families in need across Al-Mafraq.

The bank also sponsored an iftar event as part of the “Mawae’d al-Rahman” program organized by TUA at its premises in Amman. Arab Bank employees volunteered to prepare and serve iftar meals to more the 4,500 fasting people. The bank’s employees also took part in preparing the meals at TUA’s kitchens, where meals were distributed to beneficiary families at their homes in Amman.

Commenting on Arab Bank’s long-term support, Mr. Samer Balkar, Director General of Tkiyet Um Ali, said: “We thank Arab Bank for its role in social responsibility and value its continuous support for Tkiyet Um Ali’s programs." He added: "Tkiyet Um Ali places great importance on enhancing its cooperation with private sector institutions and working together towards its goal of securing sustainable food aid for families in need.”

Tkiyet Um Ali provides monthly sustainable food support to underprivileged families living in extreme poverty in all provinces and governorates across the Kingdom. The families receive monthly food parcels, which fulfill the needs of a family for the entire month.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social, and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

In collaboration with the Charity Clothing Bank; one of Jordan Hashemite Charity Organizations (JHCO), Arab Bank recently sponsored the Eid Program, through which clothes were provided to 270 children on the occasion of Eid Al-Fitr in Amman and Irbid with the participation of Arab Bank volunteers who helped the children while choosing their clothes.

The program included distributing Eid clothing items and toys for children in a joyful atmosphere, in addition to holding several interactive activities at the Clothing Bank’s showroom in Amman before serving Iftar. This sponsorship comes in line with the Orphan Day program, which Arab Bank has exclusively sponsored for 10 years, catering for more than 11,000 children from different governorates around the Kingdom.

The Charity Clothing Bank was established in 2013 to collect in-kind donations and provide them to local underprivileged families supported by the National Aid Fund and other NGOs, through different initiatives held at the Clothing Bank’s showrooms in Amman and Al-Karak targeting orphans, elderlies, low-income individuals, and those getting married. Since its establishment, the Charity Clothing Bank has served over 1,300,000 beneficiaries and distributed more than 7,000,000 clothing pieces.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social, and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

 Arab Bank continued its support to the Ramadan initiative organized by the Children’s Museum Jordan as part of its “Community Connections” program, sponsored mainly by Arab Bank since 2014. 

The Ramadan initiative at the Children’s Museum Jordan returns this year under the theme and spirit of the holy month, featuring a variety of activities. These include the old souq, the souq café with a children’s Hakawati who tells stories blending both the past and present, in addition to well-known Islamic figures from the golden era such as the explorer Ibn Battuta, the mathematician Khawarizmi, and many more Ramadan-related activities.

Arab Bank has also sponsored two charity iftars for orphaned children as part of the Ramadan iftar events hosted annually by the museum. Arab Bank employees accompanied the children on a tour around the museum, which included interactive learning activities aimed at teaching them more about Ramadan symbols, as well as a scientific show featuring lab experiments, all within a joyful atmosphere. At the end of the tour, the bank’s employees distributed gifts to the children.

Arab Bank’s support comes as part of its social responsibility program “Together”, which focuses on a variety of areas including education. The bank is the main sponsor of the Museum’s “Community Connections” program, which includes a variety of interactive initiatives and activities that focus on vital topics and special occasions that interest children and the family alike, such as the water month, the Arabic language month and the Arab child month. 

Arab Bank has recently provided its support to the campaign launched by the Crown Prince Foundation (CPF) during the Holy Month of Ramadan. The initiative comes as part of CPF’s humanitarian response program, which falls under its sustainable community development efforts.

The initiative aims to provide financial aid to hundreds of underprivileged families in various governorates across the Kingdom, particularly those in remote and less fortunate areas. It was launched during Ramadan to provide families with their basic food needs and alleviate their financial burdens.

This year, Arab Bank’s support entailed JOD 40 vouchers issued by the Military Consumer Establishment and distributed to a number of beneficiary families, offering them the flexibility to purchase their own food needs. Eligible families were selected in advance based on criteria points set in collaboration with the National Aid Fund, with priority given to those on waiting lists and to families who have not yet received support.

Since its inception, Arab Bank’s social responsibility program “Together” aims to serve the community in areas related to education, health, environmental protection poverty alleviation, orphan support, and women empowerment to contribute to achieving sustainable social, economic, and environmental development.

 Arab Bank held its general assembly meeting online on March 28th, 2024. The meeting was headed by Mr. Sabih Masri, Arab Bank’s Chairman in the presence of the board of directors, the Chief Executive Officer, and shareholders (in attendance and by proxy), which make up 78.17% of the bank’s capital. Dr. Wael Armouti, the Companies’ Controller had also attended the meeting along with representatives from the Central Bank of Jordan.

During the meeting, the recommendation by the Board of Directors to distribute a cash dividend of 30% for the year 2023 and all articles on the agenda were endorsed.

Mr. Masri, Chairman of the Board of Directors, highlighted that the global economy faced further challenges and pressures in 2023, leading to a slowdown in growth rates in most regions of the world. The tight monetary policy approach that began in 2022 to combat the highest inflationary wave in four decades persisted this year, deepening its negative impact across most economic sectors. However, this impact was relatively mitigated by strong consumption spending, especially in the United States. Additionally, the global economy experienced declines in trade, investment, and credit demand. Conversely, global inflation rates declined due to falling fuel and food prices, improved supply chains, and rising interest rates. Meanwhile, geopolitical tensions deepened in 2023, further pressuring the economies of the world and the region.

Mr. Masri noted that the non-oil sector across oil-exporting Arab countries continued its strong growth momentum, supported by economic reform programs and high government spending. As for oil-importing Arab countries, he highlighted that there was a tangible improvement in their current account deficit, supported by a decrease in the trade deficit, strong flows of tourism revenues and remittances from expatriate workers.

Mr. Masri further added that during 2023, many banks in the region continued their flexible policies towards their customers, especially those related to the rise in interest rates, in order to support individuals and corporates in facing the unfavorable circumstances resulting from economic developments. Banks did not fully pass on the sharp increase in interest rates to customers, thus also contributing to maintaining the quality of their credit portfolios. The Arab banking sector, generally, was able to maintain high levels of capital adequacy, liquidity, profitability, and rely on a broad and stable funding base, alongside adopting wise credit policies that enabled them to mitigate the negative repercussions of economic challenges and prepare to capitalize on available growth opportunities. Additionally, the banking sector witnessed an increase in the adoption of digital and Fintech solutions throughout the year, which are continuously gaining significance among various customer bases, especially the youth.

Mr. Masri also reaffirmed that despite the challenges that the world and the region witnessed in 2023, Arab Bank continued to achieve positive results and strong performance driven by its presence across the different markets, especially in the GCC region, as net profit improved by 34% to reach $1.81 billion. The Bank's strong underlying performance reflects the successful execution of its strategy which focuses on delivering sustainable growth and building a resilient business model capable of dealing with the regional and international challenges. This reinforces the Group’s leading position and its ability to move forward in line with its shareholders’ expectations and the needs of its customers.

He also noted that Arab Bank continued to leverage its extensive expertise in regional markets and its globally and regionally extended network, supported by an advanced system of services and digital channels, to provide integrated banking and financing solutions to its customers, including corporates, institutions, and individuals across various sectors and segments. Additionally, the Bank took part in financing infrastructure projects, vital initiatives, and intra-regional trade in a manner that reflects its active contribution to driving sustainable economic development locally and regionally.

Mr. Masri added that throughout the year, Arab Bank continued to enhance its community investments through its responsibility towards the communities in which it operates, by providing support in various forms to purposeful community initiatives and activities as part of its CSR and sustainability program, "Together". The Bank's contributions in this regard included areas such as health, poverty alleviation, education, environmental protection, orphan support, and women empowerment. This is in addition to the vital role played by the Abdul Hameed Shoman Foundation, Arab Bank’s social and cultural responsibility arm, in the fields of scientific research, cultural enlightenment, innovation, and encouraging reading. Furthermore, the year witnessed Arab Bank’s adoption of its Environmental, Social, and Governance (“ESG”) strategy, which outlines a detailed approach for managing these issues and integrating them into the Bank's business model.

He also noted that as part of Arab Bank’s expansion strategy, and in line with its continuous efforts to expand its footprint in promising markets, the Bank is in the process of launching its operations in the Iraqi market during the year 2024, providing comprehensive banking solutions and services to its current and future customers. And in line with the group’s focus on expanding its wealth management and private banking business, during 2023, Arab Bank Switzerland acquired the majority stake in Swiss bank "Gonet & Cie SA". The new banking group will be a major actor in the Swiss wealth management industry.

In the period ahead, Mr. Masri confirmed that the Bank will continue to build upon the achievements of the past nine decades, grounded in its strong institutional approach, prudent banking policies, and an extensive interconnected banking network, prioritizing the interests of its customer, shareholders, and the communities in which it operates.

Mr. Masri concluded by thanking the Central Bank of Jordan for its pivotal role in sustaining the resilience and stability of the Jordanian banking system under all circumstances.

Ms. Randa Sadik, CEO of Arab Bank, stated that Arab Bank Group closed 2023 reporting a net income after tax of US$829.6 million as compared to US$544.3 million in 2022 with an increase of 52%. The Group also maintained its solid financial position with Group equity of $11.4 billion, and an increased net profit of 34% to reach US$1.81 billion.

By the end of 2023, the Group’s total assets grew by 6% to reach US$68.3 billion, and loans increased by 5% to reach US$37.1 billion, compared to US$ 35.4 billion last year. The Group’s deposits also witnessed 6% growth, reaching $50.6 billion compared to US$ 47.7 billion last year.

She highlighted that Arab Bank delivered robust results during 2023 where the Bank’s net operating profit grew, driven by increase in core banking income across various sectors and markets in the region with a clear focus on enhancing non-interest income contribution and revenue diversification. The Group’s liquidity and asset quality remain solid where the loan-to-deposit ratio stood at 73.2% and credit provisions held against non-performing loans continue to exceed 100%. Arab Bank Group maintains a strong capital base that is predominantly composed of common equity with a capital adequacy ratio of 17.5%, which is higher than the minimum required by the Central Bank of Jordan according to Basel III regulations.

Ms. Sadik also noted that Arab Bank remained committed to sustainability and its Environmental, Social and Governance (“ESG”) priorities, successfully issuing $250 million in sustainable Additional Tier 1 (AT1) Capital Securities. The issuance marks the first and largest sustainable perpetual AT1 issue in Jordan and was listed on the International Securities Market (ISM) and the Sustainable Bond Market of the London Stock Exchange.

With regard to Arab Bank's digital transformation efforts, Ms. Sadik concluded by reaffirming the bank’s commitment to providing value for its customers through the establishment of "Acabes International Pvt Ltd", Arab Bank’s technology arm, as a global capability center, supporting the bank’s businesses worldwide and providing a seamless digital experience to customers.

In collaboration with the Jordan River Foundation (JRF), Arab Bank has recently hosted a Ramadan Iftar for 100 children at the JRF’s Queen Rania Family and Child Center. This comes as part of the JRF’s initiatives directed at family and child protection, which aim to reach the largest number of beneficiaries.

A group of 30 Arab Bank employees volunteered in this initiative, which entailed several interactive arts and sports activities to increase children’s awareness around key concepts related to child protection. This included the “Small House” program, the “Salhouf” puppet show, and many other activities. Iftar meals were also provided for the children and the bank’s employees catered by the women of Al-Karma Kitchen, owned by the JRF.

The Jordan River Foundation established the Queen Rania Center for Family and Child in 2005 with the aim of enhancing social, economic, educational, and environmental areas related to child wellbeing. The center adopts a holistic model of services that aims to integrate cultural, societal and familial aspects to secure financial support for children and their protection in partnership with the local communities and JRF partners.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social, and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

With the support of Arab Bank, the Children’s Museum Jordan has implemented its "Water Month" program, which aims to educate children on the importance of water preservation through creative thinking workshops, science experiments, storytelling and agricultural activities.

The "Water Month" activities were held under the slogan "Save Water", shedding light on water scarcity and the dangers of poor water consumption. The program entailed diverse awareness activities including “I Pledge” and the “Water the Fuel of Life Show”, which enabled children to learn more about water conservation, in addition to other several awareness activities Over 6,000 visitors benefited from the program’s activities and gained insights into the issue of water scarcity in Jordan.

During the program, Arab Bank participated through its “Arabi Junior” booth to promote and instill sound environmental values and practices among children, especially focusing on topics related to sustainable water management and preservation, given the importance of creating a water-secure future in Jordan and reinforcing such positive thinking at an early age.

Arab Bank’s support of this initiative comes in line with its CSR program, which addresses different aspects that align with the values of citizenship and social responsibility. This includes initiatives and activities that cater to the children’s interests, resonating with the bank’s commitment to this age group by supporting educational and awareness-raising programs. The bank continuously seeks to collaborate with the Children’s Museum through supporting multiple programs such as the “Community Connections” program that was launched in 2012, which encompasses the “Water Month” initiative hosted annually by the museum to coincide with World Water Day on March 22^nd  of each year.

Arab Bank employees have recently participated in a career day activity at “Amneh Bint Wahab" mixed secondary school in Al-Salt. The activity is part of "Masahati" program organized by the "Madrasati" initiative with support from Arab Bank. Serving as a gateway for youth into the job market, the activity aimed to expand students' knowledge about the most common and in-demand future specialties in the job market, including cybersecurity, digital marketing, data science and analytics, human resource management, as well as motion graphics and animation design.

The career day activity comes as an extension of Arab Bank's support of the "Madrasati" initiative programs since 2010, launched by Her Majesty Queen Rania Al Abdullah in 2008 with the aim of improving the environment of public schools in the Kingdom and enhancing students' life skills through the implementation of various educational programs.

The activity comprised several interactive sessions involving 135 female students. These sessions included panel discussions, practical activities, and training events designed to guide and enhance their skills while expanding their understanding of practical concepts. This initiative contributed to raising awareness among the students about the influence of their academic concentration on their career paths.

It is worth mentioning that Arab Bank has previously supported the "Madrasati" initiative by adopting two schools for renovation and remodeling. With the aim of providing a better educational environment, the bank's support of the "Masahati" program within the "Madrasati" initiative was directed towards creating an interactive creative space for students and teachers through extracurricular activities. Additionally, the bank provided support to the "Proud to be a teacher" program, which offered personal and practical training for teachers to enhance their sense of pride and competence.

Arab Bank was recently named “Most Innovative Bank in The Middle East” by EMEA Finance at the magazine’s 16th edition financial services awards ceremony in the Middle East for 2023. The ceremony recognized the best commercial, investment, and Islamic banks in the region, in addition to asset management and brokerage institutions.

Arab Bank was selected for this award based on a set of criteria including performance and structural factors such as market share, product innovation, growth in key service areas, and corporate strategy.

This recognition comes as a result of Arab Bank’s constant efforts to deploy the latest and most innovative digital banking services and solutions that meet the needs of its customers across the different sectors. It also reflects the bank’s commitment in staying abreast with the latest developments in the digital banking industry.

It is worth mentioning that Arab Bank was named “Bank of the Year 2023 in the Middle East” by The Banker Magazine, owned by the Financial Times and based in London. The bank was also named “Best Bank in the Middle East 2023” for the eighth consecutive year by New York-based Global Finance publication. Additionally, the bank received 18 awards in recognition of its corporate and consumer digital banking services in Jordan and the MENA region.

In line with its social responsibility program “Together”, a group of Arab Bank employees and their families recently volunteered to plant 400 forest trees at Mount Nebo in Madaba. The initiative is part of the Madaba forest tree planting project, which was launched by “Himmeh w Lammeh” in collaboration with the Directorate of Agriculture to increase the green space in Madaba with the support of civil society organizations and the private sector.

“Himmeh w Lammeh” initiative, launched in 2019 by a group of women, operates under the umbrella of Jordan Inbound Tour Operators Association (JITOA) - a voluntary non-profit organization that links all the various players in the tourism value chain, with the goal of supporting the growth, sustainability, and adaptability of the Kingdom’s inbound tourism sector.“Himmeh w Lammeh” initiatives focus on raising community awareness on the importance of maintaining cleanliness in Jordan’s tourist and archeological sites, as well as parks, street sides and roads leading to governorates.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, and orphan support.

Arab Bank, in collaboration with INJAZ, has launched a specialized training program aimed at enhancing and raising financial awareness among university students in several governorates across the Kingdom. This initiative comes as part of Arab Bank’s sustainability and social responsibility strategy, as well as its efforts in financial inclusion and spreading financial literacy among various segments of the local community. 

The program, which will be implemented across six universities in Jordan, aims to raise financial awareness among the students and introduce them to main concepts and skills such as sound financial planning which enables them to make wise financial decisions, the concept of saving, and the latest financial products and services, including digital services, types of accounts, credit and debit cards, and various banking solutions. The training also entails training material on the role of financial technology in restructuring banks’ operating model, cybersecurity and ways to deal with threats, as well as essential financial advice for post-graduation. 

Arab Bank’s launch of this program in collaboration with INJAZ comes as part of the bank's ongoing commitment to supporting and enabling the youth, building their capabilities and equipping them with the necessary knowledge and skills that will benefit them personally and professionally in the future, thus contributing to sustainable development.

Arab Bank launched a special auto loan offer in collaboration with the Unity Trading Est. – Hyundai Jordan on a selection of Hyundai car models. The offer comes as part of the bank’s constant efforts to provide its customers with value-added banking services and promotions in line with their expectations and diverse needs.

The offer, which will run until 10 April 2024, allows customers who desire to purchase any of the Hyundai car models listed within the campaign to benefit from many exclusive privileges including; 100% financing for up to 96 months, preferential fixed interest rate of 4% (or its equivalent of 7.25% decreasing), free insurance for the first year, exemption from loan origination fees, and cashback of JOD 500 with each car loan. This is in addition to a free charger for electric cars, and the ability to repurchase the car within the first year through a simple and easy process. 

Commenting on this offer, Mr. Yacoub Matouk, Head of Consumer Banking at Arab Bank – Jordan, said: “We continuously seek to provide our customers with competitive financing solutions through value-added offers and campaigns that are in line with their expectations and financial needs.” He added: “The new campaign offers a unique opportunity for our customers to own a brand-new Hyundai car while benefiting from an array of exclusive privileges and flexible features.”

For his part, Mr. Zaid Al Abdallat, CEO of Unity Trading Est. – Hyundai Jordan, said: “We are proud to collaborate with Arab Bank on this campaign, which comes in line with our constant efforts to provide the best financing solutions for our customers to own their Hyundai car of choice, which has proudly earned the ‘Car of the Year’ awards for 2022 and 2023, and are considered the most popular hybrid and electric cars in our market. The new offer facilitates the purchasing process and provides flexible payment options tailored to our customers’ needs and purchasing power, allowing them the opportunity to own their favorite car with benefits.”

 It is worth mentioning that Arab Bank’s auto loans offer a wide range of benefits in addition to a dedicated customer service team around the clock, the ability to finance multiple cars, including new and used cars according to the bank’s terms and conditions. The bank also offers customers the ability to easily apply for a loan online through the bank’s digital banking channels that include Arab Bank’s website, the “Arabi Mobile” app and its internet banking service “Arabi Online”.

Global Finance, a New York-based international publication, has recently named Arab Bank the "Best Bank for Sustaining Communities in the Middle East 2024” as part of the fourth annual Sustainable Finance Awards for 2024. Arab Bank was chosen by a world-class panel of judges, which included experts in consulting and outsourcing, in addition to the magazine’s team of editors, recognizing the bank’s outstanding sustainability achievements as part of its comprehensive strategy on this front. 

Arab Bank's recognition underscores its robust track record in adhering to environmental, social, and governance ("ESG") standards, alongside its innovative strides in sustainability. These initiatives showcase the bank's influential role in supporting sustainable projects, and highlight its integration of sustainability principles into its operations. This aligns seamlessly with the bank's overarching vision of realizing sustainable development.

Arab Bank was selected for this award based on a specific set of criteria, which included the bank's commitment to sustaining communities as well as its constant efforts in sustainability financing, its excellence in bond issues, community support, resource management, transparency and reporting, infrastructure, and emerging-markets sustainability funding. This is in addition to its ESG governance policies, objectives, and achievements in financing environmental and social initiatives during the past year.

Furthermore, Arab Bank was named the “Best Bank for Sustainable Finance in Jordan 2024” by Global Finance magazine. The bank also received the "Best ESG Integration in Jordan 2022" award by the Arab Federation of Capital Markets in cooperation with The Global Economics magazine.

It is worth mentioning that Arab Bank was the first bank in Jordan to establish a Sustainable Finance Framework, which aims to support the bank’s sustainability commitments and environmental, social and governance (“ESG”) priorities. The bank also successfully issued USD 250 million Additional Tier 1 (AT1) Capital Securities last year. The issuance marks the first and largest sustainable perpetual AT1 issue in Jordan and was listed on the International Securities Market (ISM) and the Sustainable Bond Market of the London Stock Exchange. The proceeds of the issuance will be used to finance a portfolio of qualified sustainable projects, in line with Arab Bank’s strategy to integrate environmental, social and governance (“ESG”) principles across the organization.

Arab Bank employees have recently volunteered in implementing an activity for the "My Little Home" initiative at the Queen Rania Family and Child Center (QRFCC), which is run by Jordan River Foundation (JRF). The “My Little Home” initiative is part of the child protection program by QRFCC, which aims to raise awareness and increase knowledge of key topics related to child abuse prevention. This comes as part of the center’s efforts in protecting children and their families through implementing key initiatives that reach a wide number of beneficiaries.

A group of Arab Bank employees volunteered to implement several activities for children within the "My Little Home" initiative, aiming to increase their self-awareness levels and enhance their abilities and skills. The initiative, which targets children between the ages of six and twelve, is implemented through a simulated home environment, designed in a modern and simple manner to include five rooms that are linked to the concepts of family life.

Run by the Jordan River Foundation, the Queen Rania Family and Child Center (QRFCC) was established in 2005 to enhance areas related to social, economic, educational, and environmental wellbeing for children. The community-based center adopts a holistic model that integrates cultural, societal, and familial aspects for change, in a way that ensures financial support and safety for children, in collaboration with the local community and QRFCC partners.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social, and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

Arab Bank has recently provided financial support for the reconstruction and renovation of “Ghor Al Mazra’a” comprehensive health center, located in the southern Jordan Valley. The project, led by "Himmetna" Charitable Association, aims to develop 25 healthcare centers across the Kingdom, elevating health services in underprivileged areas. Arab Bank’s support of this initiative comes as part of its social responsibility toward the local community and its commitment to instilling the values of citizenship by consolidating the efforts directed towards supporting vital sectors, such as healthcare, in line with its sustainability strategy.

The upcoming Ghor Al Mazra’a comprehensive health center is planned to span two floors, covering approximately 1,916 square meters, with sub-buildings to serve the medical caliber. The new center will serve around 25,000 people and will undergo a reconstruction process, which involves demolishing and rebuilding, expanding the first floor to accommodate new clinics and amenities for overnight on-site physicians. Anticipated to serve about 25,000 people, the expansion aims to enhance the overall treatment journey for patients, including an enlarged emergency department, physiotherapy department, and the maternal and child health department, and allocating space for a mammogram room, a medical waste area, a shaded outdoor area for children, facilities for people with special needs and disabilities, and parking spaces. Additionally, the project considers the region's characteristics, employing thermal isolation and an air conditioning system suitable for high temperatures and water salinity in the Jordan Valley area.

The bank's support will contribute to covering the project’s costs, encompassing demolition, excavation, rebuilding, civil works, infrastructure, finishing, electrical, mechanical, interior design, and branding. The bank's commitment extends to ensuring adherence to the highest standards throughout the design, execution, and continuous follow-up on the sustainability of services. This includes training and capacity building for the center's staff.

Dr. Fadia Samara, Chief Executive Officer and Founder of "Himmetna" organization, said: “We are proud to collaborate with Arab Bank and commend its vital support, emphasizing the tangible impact on beneficiaries through equitable healthcare. We believe in the pivotal role undertaken by the private sector in achieving sustainable development, which aligns with our vision of achieving justice and quality in healthcare services, promoting patient rights, and elevating the level of healthcare services provided to all segments of society within a secure environment.” She added: “Ghor Al Mazra’a comprehensive healthcare center is a vital facility, serving approximately 25,000 residents, and it is part of a broader initiative by 'Himmetna', which includes around 25 health centers in the most underprivileged areas across the Kingdom."

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social, and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

Arab Bank has recently renewed its collaboration agreement with the Charity Clothing Bank; one of Jordan Hashemite Charity Organizations (JHCO), for the ninth consecutive year. The agreement aims to provide clothing for 1,200 orphans from across the Kingdom throughout the year.

This comes as part of Arab Bank's sustainability strategy for community development. The bank's social responsibility program "Together" provides support to vital community initiatives aimed at enhancing social solidarity and helping those in need across the Kingdom. Through its support, the bank seeks to provide new clothing, shoes, and toys to 1,200 orphaned children from different governorates with the help of volunteering employees from the bank. In addition to its financial support, the bank’s volunteering team will also help the children shop for their needs at the Charity Clothing Bank’s showrooms in Amman and its temporary showrooms across the Kingdom.

Secretary General of the Jordan Hashemite Charity Organization, Dr. Hussein Al-Shibli, expressed his pride in the agreement renewal and praised the role of Arab Bank in developing the local community and its effective contribution to achieving the organization’s goals by alleviating the economic burden on mothers and spreading joy among the children through the Orphans Day program. Since its inception, the program has been able to serve more than 9,000 children in various governorates.

The Charity Clothing Bank collects donations and distributes them to families in need who benefit from the National Aid Fund and charitable organizations through various programs targeting all groups in need. These include elderly orphans, individuals with limited income, and those preparing for marriage, who are served through the Clothing Bank’s showrooms in Amman and Karak.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social, and environmental development. “Together”, Arab Bank’s corporate social responsibility program is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

Arab Bank Group achieved solid results for the year ending December 31, 2023, reporting a growth of 52% in net income after tax of $829.6 million as compared to $544.3 million in 2022.

The Group’s performance was driven by sustainable growth in the underlying business across different markets, as net profit before provisions and tax improved by 34% to reach $1.81 billion. Total Assets grew by 6% to reach $68.3 billion, loans grew by 5% to reach $37.1 billion, and deposits grew by 6% to reach $50.6 billion. While total Group equity stood at $11.4 billion.

In view of the solid results, the Board of Directors has recommended to the shareholders the distribution of 30% cash dividends for the financial year 2023.

Mr. Sabih Masri, Chairman of Arab Bank, commented that the bank's strong underlying performance reflects the successful execution of its strategy which focuses on delivering sustainable growth and building a resilient business model capable of generating positive results, while dealing with the regional and international challenges. He also noted that the bank’s record net operating profit is a clear testament to its strong growth momentum across several markets, specially in the GCC region and international markets.

Ms. Randa Sadik, Chief Executive Officer, stated that Arab Bank delivered robust results during 2023, where the Bank’s net operating profit grew by 34% driven by increase in core banking income across various sectors and markets, with a clear focus on enhancing non-interest income contribution and revenue diversification. This was achieved while the Bank continued to invest in transformation and maintaining a resilient balance sheet, which will position us for further growth in the future.

Ms. Sadik added that the Group’s liquidity and asset quality remains solid where loan-to-deposit ratio stood at 73.2% and credit provisions held against non-performing loans continue to exceed 100%. Arab Bank Group maintains a strong capital base that is predominantly composed of common equity with a capital adequacy ratio of 17.5%.

Ms. Sadik also highlighted that as part of Arab Bank’s commitment towards Sustainability and its Environmental, Social and Governance (“ESG”) priorities, the bank successfully issued $250 million in sustainable Additional Tier 1 (AT1) Capital Securities. The issuance marks the first and largest sustainable perpetual AT1 issue in Jordan and was listed on the International Securities Market (ISM) and the Sustainable Bond Market of the London Stock Exchange.

With regard to the bank's ongoing commitment towards digital transformation and providing value for its customers, Ms. Sadik noted the establishment of "Acabes International Pvt Ltd", Arab Bank’s technology arm, as a global capability center, supporting the bank’s businesses worldwide. Arab Bank, in collaboration with "Acabes", has recently launched an updated version of “Reflect” offering more features and services to its users. This is in addition to launching "Arabi Shopix", a first of its kind service in the Kingdom which offers Arab Bank customers, including merchants, the ability to build and design an e-commerce website as part of the host of integrated digital banking solutions designed to meet the needs of SMEs through the “Arabi SMEs” program.

As part of the bank's expansion strategy, and in line with the bank's continuous efforts to expand its footprint in promising markets, Mr. Masri commented that the Bank is in the process of starting its operations in the Iraqi market during the year 2024, providing comprehensive banking solutions and services to its current and future customers. And in line with the group’s focus on expanding its wealth management & private banking business, Mr. Masri noted that during 2023, Arab Bank Switzerland acquired the majority stake in the family holding company which owns a deep-rooted Swiss bank "Gonet & Cie SA". The new banking group will be a major actor in the Swiss wealth management industry, with assets under management in excess of CHF 10 billion.

Arab Bank was named “Bank of the Year 2023 in the Middle East” by the London-based “The Banker” Magazine, owned by the Financial Times. The bank was also named “Best Bank in the Middle East 2023” for the eighth consecutive year by New York-based international publication “Global Finance”. Additionally, the bank received 18 awards in recognition of its corporate and consumer digital banking services in Jordan and the MENA region.

The bank’s 2023 financial statements are subject to the approval of the Central Bank of Jordan.

Arab Bank and Mastercard announced the launch of cross- border payment services “RemitEx.  The new collaboration leverages Mastercard's Cross-Border Services platform to provide a remittance product that will enable Arab Bank’s customers to make faster, safer and full-value transfers without fees for the recipient.

The launch of this new service comes as part of Arab Bank’s strategy to reinforce its digital payment offering and provide its customers with flexible and advanced banking solutions that meet their evolving needs and expectations.

This service will enable remittance to 28 countries, opening new corridors and expanding the bank’s global reach, with plans for further expansion in the future.

Commenting on the launch of this service, Mr. Yacoub Matouk, Head of Consumer Banking at Arab Bank – Jordan, said: “At Arab Bank, we continue to deploy the latest advancements in the digital banking industry, offering a more optimized customer-centric banking experience. Our strategic collaboration with MasterCard is a manifestation to the bank’s agility in responding to consumers’ growing demands for secure and innovative payment solutions across borders.” He added: “The new cross-border payment services are a remarkable addition to the bank’s portfolio of payment solutions offered to customers, providing them with semi-instant, seamless and secure money transfer experience processed through MasterCard’s cross-border services platform, and supported by a paradigm of digital payment solutions.”

Cynthia El Khoury, Country Manager, Levant & Iraq at Mastercard, said: “Mastercard Cross-Border Services is designed to modernize cross-border payments in an age where convenience and security are paramount. Through our collaboration with Arab Bank, we are empowering consumers to send money to their loved ones with increased ease and peace of mind. We look forward to seeing the positive impact Arab Bank’s new remittance product will have on their customers and the wider community in Jordan and the region.

About Mastercard (NYSE: MA)  www.mastercard.com

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

Arab Bank has recently concluded its “AI Startup Bootcamp”, an initiative launched by the bank's startup accelerator "AB Xelerate". This program provided entrepreneurs and startups with an ideal opportunity to cultivate their expertise in AI and machine learning technology, enabling them to apply innovative solutions that contribute significantly to expanding their business reach and accelerating their development. The launch of this bootcamp comes as part of the bank’s constant efforts to staying at the forefront of the latest technological and digital advancements, particularly the vital opportunities in the field of AI applications.

Through this initiative, around 100 entrepreneurs had the opportunity to present their ideas and emerging projects for evaluation by the bank’s team of experts. The top 10 ideas were selected based on their efficiency and eligibility for participation. The selected entrepreneurs engaged in interactive workshops and practical training sessions led by experts and professionals in the field of AI and machine learning. This is in addition to showcasing success models for prominent startups that received adequate funding for business expansion. The workshops also featured inspirational speaker sessions presented by leaders in the AI field, with technical support from including Cloud, a prominent contributor to the initiative.

Additionally, participants gained access to valuable market data, understanding the effectiveness of AI across diverse sectors such as, health, finance, and e-commerce, and around their projects in specific. They also received necessary guidance to enhance their product development and improve market readiness. This equipped them with the necessary insights on integrating and activating machine learning and artificial intelligence solutions to effectively address market needs.

The bootcamp concluded with the selection of the top three AI solutions demonstrating the most potential. Participants pitched these solutions through demo presentations to a judging panel comprising experts, including Arab Bank’s senior management and several renowned investors. Each of the three winners, “GamerG” securing the first place, “Musajjel” earning second place, and “Smartserve” claiming third, received cash rewards from Arab Bank to continue developing their ideas and projects.

Commenting on the bootcamp, Ms. Hala Zahran, Head of “AB Xelerate” at Arab Bank, said: "Integrating AI mechanisms into traditional services provided by the banking sector is crucial amid the continuous evolution of modern technology. Today, technology presents great opportunities to elevate the banking industry’s offerings by improving customer experience, streamlining operations, and fortifying risk management." Zahran added: “Through this initiative, Arab Bank strives to cultivate a stimulating ecosystem for entrepreneurs, fostering the development of their products and yielding tangible results in the business market. The initiative also aims to create networking opportunities with key stakeholders from the bank, facilitating potential collaborations in the future.”

It is worth mentioning that Arab Bank is considered one of the leading financial institutions in the region, committed to adopting the latest technologies. It consistently provides advanced banking services and solutions to customers across various sectors. The bank also places significant emphasis on FinTech to evolve its banking services in line with the transformations brought about by the the Fourth Industrial Revolution and the changes in the needs and expectations of customers. Arab Bank has taken the initiative to establish a comprehensive system in this field, encompassing an innovation center and a business accelerator. This strategic direction underscores bank’s commitment to supporting entrepreneurs and startups, fostering innovation and creativity among the youth, as well as encouraging investments that contribute to sustainable economic development.

Arab Bank has recently renewed its support for the “Sunbulah” initiative, implemented by “Al Jude Foundation for Scientific Care” at public schools in collaboration with the Ministry of Education. The initiative aims to instill a culture of creativity among teachers and students, enhance the school environment and address its challenges using innovative solutions, thus achieving a culture of partnership among teachers, students, the school and society.

Managing Partner of Al Jude Foundation, a non-profit organization, Maher Kaddoura, affirmed that the NGO’s collaboration with Arab Bank aims to promote sustainable development and instill social entrepreneurship skills among teachers and young students to elevate their way of thinking. Last year, the initiative achieved remarkable success, reaching nearly 1,100 public schools across different governorates of the Kingdom, and training no less than 7,000 male and female teachers to acquire new skills and tools in the field of entrepreneurship, creativity, and problem-solving through simple creative methods, as well as acquiring life and scientific skills through the initiative.

More than 800 projects have been implemented, utilizing unused spaces in schools to establish service projects that benefit both the schools students, and reflecting positively on improving the school environment. Additionally, the initiative has achieved community engagement, strengthened teamwork, and promoted cooperation.  

Kaddoura also expressed his pride in collaborating with Arab Bank as a strategic supporter of this initiative and emphasized the importance of this collaboration, which has had a positive impact on the educational environment.

Kaddoura highlighted that the launch of the fourth stage in more than 1,000 public schools across the Kingdom comes in collaboration with the Ministry of Education and with the support of Arab Bank. He also noted that by 2024, there will be competition at the directorate level, increasing the chances of winning awards for schools. The registration is still open for all schools through the website: www.sonbola.org

For his part, Dr. Nawaf Al Ajarmeh, the Secretary-General of Educational and Technical Affairs, said: “The Ministry of Education strongly believes in the importance of partnership and interaction with the local community, as well as between the private and public sectors. The “Sunbulah” initiative has proven this through its positive impact on the school environment, as well as in enabling our schools to acquire knowledge and increase their experience in implementing and designing community initiatives.”

Arab Bank’s support of this initiative is part of its social responsibility program “Together”, a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.

The Banker’s judging panel’s decision to honor Arab Bank with this highly coveted regional award was based on criteria assessing a number of different indicators, including the Bank’s financials, strategy and performance, in addition to other specific indicators, a process that takes over 5 months to conduct.  

The Banker Magazine, for more than 90 years, has been the world's longest-running international banking title and the leading monthly journal of record for the global banking industry.

Commenting on this recognition, Ms. Randa Sadik, Arab Bank’s Chief Executive Officer, said: Such global recognition is a testament to the leading position Arab Bank enjoys both locally and regionally. It reflects the bank’s consistent ability to deliver solid performance despite the challenging circumstances across the region and the world.”  She added, “The bank continues to provide a wide range of  banking solutions to its customers in line with its comprehensive strategy and its well-established institutional approach, with an ambitious, forward looking vision that keeps pace with the latest technological developments in the banking industry."

Arab Bank received significant recognition and awards from various reputed international and regional institutions during last year, including Best Bank in the Middle East for 2023 from New York-based Global Finance publication, for the eighth consecutive year.

Arab Bank, headquartered in Amman Jordan, was established in 1930 and currently has one of the largest global Arab banking networks with over 600 branches spanning five continents and covering key financial markets and centres.