Community hub
Recent from talks
Knowledge base stats:
Talk channels stats:
Members stats:
Arab Bank
Arab Bank is a Jordanian bank that is one of the largest financial institutions in the Middle East. It is headquartered today in Amman, Jordan, and operates as a universal bank that serves clients in more than 600 branches spanning five continents. Arab Bank is a publicly held shareholding company listed on the Amman Stock Exchange.
The bank is a major economic engine in Jordan and throughout the Middle East and North Africa region, providing banking services and capital, and facilitating development and trade throughout the region. According to its website in 2018, the bank was the highest-ranked by market capitalization, and represented approximately 25% of the Amman Stock Exchange.
U.S. appellate courts have ruled in the bank's favor in several lawsuits filed in the 2000s alleging its involvement in facilitating the funding of terrorist organizations.
Arab Bank was founded in 1930 in Jerusalem, Mandatory Palestine, as the first private sector financial institution in the Arab world.
After the British Mandate Authority withdrew from Palestine in 1948, the Bank lost its branches in Jaffa and Haifa. When customers who were obliged to leave the country asked for their deposits, Arab Bank fully redeemed all claims. This decision won the Arab Bank a great reputation and became a historical turning point in its growth. The lost branches were re-established: Haifa branch was relocated to Beirut followed by Amman, Jaffa branch in Nablus and later Ramallah. When the branch in Jerusalem was caught up in the civil disturbance, the Bank’s activities were moved to offices within the old city of Jerusalem.
In 1948, the Bank’s headquarters were transferred to Amman, Jordan, where it was officially incorporated as a public shareholding company.
In the 1940s and 1950s, the bank grew to 43 branches in the Arab world and had JOD 5.5 million capital. During the 1960s, the bank focused on investments and became a catalyst for Arab economic developments when most other financial institutions avoided the risk.
The 1960s brought along a wave of Nationalization which swept the Arab world as country after country gained independence from British and French colonial rule. Branches in Egypt and Syria were nationalized in 1961, Iraq in 1964, Aden in 1969, and finally Sudan and Libya in 1970. Within a period of ten years, Arab Bank lost a total of 25 branches. When Israel occupied the West Bank and the Gaza Strip in 1967, more branches were closed. The bank carried on its expansion. In 1961, the bank opened its first international location, becoming the first Arab financial institution to establish a presence in Switzerland. A sister institution, Arab Bank Switzerland, was established in Zurich in 1962 with another branch in Geneva opening in 1964.
Hub AI
Arab Bank AI simulator
(@Arab Bank_simulator)
Arab Bank
Arab Bank is a Jordanian bank that is one of the largest financial institutions in the Middle East. It is headquartered today in Amman, Jordan, and operates as a universal bank that serves clients in more than 600 branches spanning five continents. Arab Bank is a publicly held shareholding company listed on the Amman Stock Exchange.
The bank is a major economic engine in Jordan and throughout the Middle East and North Africa region, providing banking services and capital, and facilitating development and trade throughout the region. According to its website in 2018, the bank was the highest-ranked by market capitalization, and represented approximately 25% of the Amman Stock Exchange.
U.S. appellate courts have ruled in the bank's favor in several lawsuits filed in the 2000s alleging its involvement in facilitating the funding of terrorist organizations.
Arab Bank was founded in 1930 in Jerusalem, Mandatory Palestine, as the first private sector financial institution in the Arab world.
After the British Mandate Authority withdrew from Palestine in 1948, the Bank lost its branches in Jaffa and Haifa. When customers who were obliged to leave the country asked for their deposits, Arab Bank fully redeemed all claims. This decision won the Arab Bank a great reputation and became a historical turning point in its growth. The lost branches were re-established: Haifa branch was relocated to Beirut followed by Amman, Jaffa branch in Nablus and later Ramallah. When the branch in Jerusalem was caught up in the civil disturbance, the Bank’s activities were moved to offices within the old city of Jerusalem.
In 1948, the Bank’s headquarters were transferred to Amman, Jordan, where it was officially incorporated as a public shareholding company.
In the 1940s and 1950s, the bank grew to 43 branches in the Arab world and had JOD 5.5 million capital. During the 1960s, the bank focused on investments and became a catalyst for Arab economic developments when most other financial institutions avoided the risk.
The 1960s brought along a wave of Nationalization which swept the Arab world as country after country gained independence from British and French colonial rule. Branches in Egypt and Syria were nationalized in 1961, Iraq in 1964, Aden in 1969, and finally Sudan and Libya in 1970. Within a period of ten years, Arab Bank lost a total of 25 branches. When Israel occupied the West Bank and the Gaza Strip in 1967, more branches were closed. The bank carried on its expansion. In 1961, the bank opened its first international location, becoming the first Arab financial institution to establish a presence in Switzerland. A sister institution, Arab Bank Switzerland, was established in Zurich in 1962 with another branch in Geneva opening in 1964.