A list of banks in Jordan includes all Islamic banks, commercial banks, private banks, local banks, domestic banks, foreign banks, and financial institutions.
Jordan is one of the most developing Middle East countries in the world. The country’s main income sources are oil and cement production. It is famous for its ancient history, beautiful landscapes, and culture.
Here are all the banks in Jordan mentioned below with brief descriptions.
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About banks in Jordan
Jordan’s banking sector is well-developed and highly regulated. The Central Bank of Jordan is responsible for overseeing and regulating the country’s financial system. Jordan’s banking sector is dominated by 28 commercial banks, including 15 local banks and 13 foreign banks.
The largest commercial bank in Jordan is the Arab Bank, which was founded in 1930 and has a significant presence in the Middle East and North Africa. Other major banks include the Jordan Kuwait Bank, the Housing Bank for Trade and Finance, and the Jordan Commercial Bank.
Jordan’s banking sector offers a range of services to both individuals and businesses, including deposit accounts, loans, credit facilities, and foreign exchange services. Most banks in Jordan offer online banking services, making it easy for customers to manage their accounts and conduct transactions from anywhere in the world.
In recent years, the Central Bank of Jordan has been implementing reforms aimed at further strengthening the country’s banking sector. One of the key areas of focus has been improving risk management and enhancing the transparency and accountability of banks. The central bank has also introduced measures aimed at increasing competition in the sector, including granting new licenses to foreign banks and encouraging the establishment of new local banks.
Jordan’s banking sector has played a crucial role in the country’s economic development, providing vital support to businesses and individuals. With continued investment and reform, the sector is expected to continue to grow and play a significant role in the country’s future economic development.
Central Bank of Jordan
Central Bank of Jordan – Central Bank of Jordan is the central bank of Jordan which is located in Amman and started in 1959. The bank is owned fully by the government of Jordan and the currency is the Jordanian Dinar. It has a different range of services in Jordan :
- maintaining the safety of the banks’ environment
- issuing and distribution of the currency
- maintaining a reserve of gold and currency
- acting as a banker of all banks
Leading Banks In Jordan
The top banks in Jordan which are national and foreign are given below.
Arab Bank is one of the largest banks in the Middle East that is based in Amman and has almost 600 branches all over the world to serve customers.
Arab Banking Corporation is a Bahrain-based financial institution that has products such as commercial, retail banking, Islamic banking, etc.
Bank of Jordan is a leading bank among popular banks in Jordan that offers credit cards, internet banking, SME banking, lease banking, and more.
Cairo Amman Bank is a financial institution that has branches in Jordan and Palestine providing a huge number of customers.
Capital Bank of Jordan is a private bank among local banks in Jordan that also gives services in Iraq, and was established in 1995.
Jordan Kuwait Bank is a commercial bank offering different financial services with its multiple branches in the country and abroad.
Arab Jordan Investment Bank is another commercial bank that has services like current and saving accounts, personal loans, etc.
Societe Generale de Banque is a French-based multinational bank that has service systems in Jordan and other countries.
Islamic International Arab Bank is a local bank among Islamic banks in Jordan which is also available in Arab countries.
Standard Chartered Bank is a commercial bank among foreign banks in Jordan that is very well known in Asia, the Middle East, and Africa.
Citibank is a New York-based bank that serves customers internationally with Credit cards, mortgages, personal loans, and more since 1812.
Rafidain Bank is the largest bank in Iraq which is owned by the government of Iraq, also has almost 165 branches nationally and internationally.
National Bank of Kuwait is a Kuwait-based national bank started in 1952 that has many branches in Asia, the Middle East, and Europe.
BLOM Bank is a public bank that is also one of the most recognized awarded banks in Lebanon and was established in Beirut, in 1951.
Bank Audi is another Lebanon-based public financial institution among banks in Jordan that serves the MENA region, Europe, etc.
Al-Rajhi Bank is the world’s largest Islamic bank which is based in Saudi Arabia and was founded in 1957.
So, the banks in Jordan give the economical status, growth, and updates of the country.
Read more about banks:
- Saudi Arabia banks
- Kuwait banks
- UAE banks
- Qatar banks
- Afghan banks
- Australian banks
- Bangladeshi banks
- Pakistani banks
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Q: What is the role of the Central Bank of Jordan?
A: The Central Bank of Jordan is responsible for regulating and supervising the banking sector in Jordan, as well as implementing monetary policy and maintaining financial stability.
Q: How many banks are there in Jordan?
A: As of September 2021, there are 27 licensed banks operating in Jordan, including 16 local banks, 10 foreign banks, and one Islamic bank.
Q: What services do banks in Jordan offer?
A: Banks in Jordan offer a wide range of services, including savings and checking accounts, loans, credit cards, foreign exchange, and investment services.
Q: Are Jordanian banks regulated by the government?
A: Yes, Jordanian banks are regulated by the Central Bank of Jordan, which is a government agency responsible for supervising and regulating the banking sector.
Q: How safe is it to deposit money in a Jordanian bank?
A: Deposits in Jordanian banks are generally considered safe, as they are guaranteed by the Deposit Protection Corporation (DPC), which provides insurance coverage of up to JOD 50,000 per depositor per bank.
Q: What is the minimum balance required to open a bank account in Jordan?
A: The minimum balance required to open a bank account in Jordan varies depending on the bank and the type of account. Some banks may offer accounts with no minimum balance requirement.
Q: Are there any restrictions on foreign individuals or entities opening bank accounts in Jordan?
A: There are no restrictions on foreign individuals or entities opening bank accounts in Jordan, but they must provide the necessary documentation and meet the bank’s requirements.
Q: Are there any fees associated with opening or maintaining a bank account in Jordan?
A: Yes, there may be fees associated with opening and maintaining a bank account in Jordan, such as account opening fees, monthly maintenance fees, and transaction fees. The fees vary depending on the bank and the type of account.
Q: Can I access my bank account online?
A: Yes, most banks in Jordan offer online banking services that allow customers to access their accounts, transfer funds, pay bills, and perform other transactions online.
Q: What is the process for applying for a loan from a Jordanian bank?
A: The process for applying for a loan from a Jordanian bank typically involves filling out an application form, providing documentation such as proof of income and collateral, and undergoing a credit check. The bank will then review the application and determine whether to approve the loan.