Association of Banks in Jordan

 
 

 
The Association of Banks in Jordan (ABJ) was established in November 1978 and registered at that time as an ordinary association in accordance with the provisions of the Societies and Social Charities law number (33) for the year 1966 and its amendments. In 2000, the Banking Law number (28) was issued, whereof Article 95 stipulated the creation of an association named the Association of Banks. By virtue of this law, the association’s new bylaws number (35) of 2005 was issued on March 29, 2006, hence becoming an association pursuant to the Banking Law. The association is currently a member of the Union of Arab Banks.
 
Vision: To maintain our pioneering role as one of the most efficient associations of banks in the region by providing services to member banks so as to boost their capabilities and enable them to maximize their contributions to achieving sustainable development in the kingdom.
 
Mission: We seek to upgrade and advance the banking business by safeguarding the interests of member banks, and to achieve the highest levels of coordination among them and with the other partners as well. We aspire to develop and upgrade the process of delivering banking services and enhance the concepts and norms of banking business, in addition to following unified systems and measures for this purpose.
 
Values: Team work, Development & Modernity, Creativity & Excellence, Integrity & Transparency, Professionalism, Credibility, Continued Learning & Training.
 
Objectives: The association seeks to upgrade and advance the banking business through the following:
• Looking after the interests of members and coordinating between them in order to achieve their common benefit.
• Improving and modernizing the methods of delivering banking services.
• Deepening the understanding of banking business and its norms as well as following unified regulations
   and procedures for this purpose.
 
Taking into consideration the legislative provisions in effect, the association shall be in charge to perform the following tasks and duties in order to achieve its objectives:
• Providing consultancy services to members in the area of their business.
• Discussing the members’ common issues related to various activities and finding suitable solutions to problems facing them.
• Cooperating with the central bank in order to attain its monetary policy and exchanging views on various banking issues.
• Exchanging banking knowledge and passing on available information to members.
• Reaching collective agreements between members to standardize whenever possible and after obtaining the approval of the Central Bank, the conditions of bank dealings.
• Holding educational seminars and lectures, as well as training courses about banking and economic issues.
• Cooperating with public and private sector institutions that relate to the objectives of the association.
• Endeavoring to standardize banking terminology, forms and procedures whenever possible.
• Issuing periodic pamphlets and publications that deal with various aspects of banking activities.
• Collecting data, documents and statistics related to the banking business as will as furnishing members with studies and research in this regard.
• Providing proposals for upgrading banking and economic legislations in cooperation with the Central Bank.
• Establishing cooperation ties between the association and Arab and international banking associations.
• Issuing a banking code of conduct.
• Setting up a banking arbitration center.