Banks promote corporate social responsibility

AMMAN — The banking sector in the Kingdom should play a big role to uphold corporate social responsibility as an essential part of its work, Central Bank of Jordan Governor Ziad Fariz said Sunday.

Inaugurating the fourth forum of social responsibility for banks, he praised the efforts exerted by Jordanian banks to contribute to launching many social and humanitarian initiatives, referring to the banks' initiatives of establishing Pilot Muath Kasasbeh Scholarship Fund.

The Association of Banks in Jordan (ABJ) Deputy President Mousa Shihadeh said the forum is an annual event for ABJ to highlight and enhance its social responsibility, exchange experience and expertise and discuss ways to develop this role.

Shihadeh noted that banks in 2014 employed some 20,000 employees and trained 43,000 others as part of its role in supporting the national economy and contributing to sustainable, comprehensive development.

In 2014, banks in Jordan spent around JD43.2 million on social responsibility initiatives, that constituted 8 per cent of the banks' net profits in that year, he indicated.

Such initiatives, according to Shihadeh, included the participation in a project to develop the financial culture which was launched by the CBJ with a support of JD6 million, in addition to carrying out maintenance to old computers and donating them to charitable societies.

ABJ also presented annual support to the Goodwill Campaign, Al Hussein Fund for Excellence, Al Aman Fund for the Future of Orphans and the Jordanian Hashemite Fund for Human Development, the ABJ official said.

Also on Sunday, ABJ launched its guidebook of banking services, products and solutions offered by Islamic banks working in the Kingdom.

The guidebook, jointly prepared by ABJ and Islamic banks, is an important step forward to shed light on Islamic banking services, especially under the growing demand on them in local, regional and international markets.

ABJ President Adli Qandah said the guidebook, the first of its kind in Jordan and the region, is an initiative from ABJ to serve its members and clients.