ABJ holds first Jordanian-Iraqi banking meeting

AMMAN — The Jordanian banking sector has deposits worth JD42 billion and facilities worth JD33 billion, Governor of the Central bank of Jordan (CBJ) Adel Sharkas said on Sunday.

Sharkas made the remarks during the first Jordanian-Iraqi banking meeting that the Association of Banks in Jordan (ABJ) held in the presence of Governor of the Central Bank of Iraq Ali Mohsen Al Alaq, the Jordan News Agency, Petra, reported.

Sharkas said that the banking system in the Kingdom is "strong and stable", referring to the financial stability indicators.

Alak mentioned several ongoing projects between Jordan and Iraq, among them the special economic zone. However, he noted that the growth rate of such ventures is still below expectations.

Minister Industry, Trade and Supply Yousef Shamali said that Jordanian exports to Iraq increased by 56 per cent, where trade exchange reached some $1 billion

Digital Economy and Entrepreneurship Ahmad Hanandeh highlighted the remarkable growth in technological and digital services sector in Jordan over the past years 

Investment Minister Kholoud Saqqaf said that the value of Iraqi investments in the Kingdom exceeds $12 billion, making Baghdad the second biggest investor in Jordan. 

ABJ Chairman Bassem Salem highlighted the importance of realising more banking and investment cooperation, stressing that Iraq is among the most important commercial partners for Jordan.  

Chairman of the Iraqi Private Banks League Wadee Handal stressed the significance of enhancing cooperation in various sectors, such as energy and transport, pointing to the remarkable growth in commercial exchange and investments between the two countries.