Arab Bank recently launched the “Arabi Points” redeem service through “Wafii” app, the service allows customers to benefit from exclusive offers at a list of restaurants, cafes, clothing stores, bakeries and many more. The launch of this new service comes as part of Arab Bank’s constant efforts to expand its digital offerings and deploy the latest digital banking solutions and services that provide customers with an advanced banking experience based on their lifestyle.

Through the service, Arab Bank customers are able to redeem their collected reward points within the “Arabi Points” program at over 70 additional stores available on the “Wafii” app when activating the service by generating the Arabi Points code on the “Arabi Mobile” app and entering the code on “Wafii” app. The new service offers customers an easy and flexible way to redeem their reward points within the highest levels of security either by contactless payment through scanning the QR code at merchant’s device, or by entering the phone number connected to the “Wafii” app.

Commenting on the launch of this new service, Head of Consumer Banking at Arab Bank – Jordan, Mr. Yacoub Matouk, said: "At Arab Bank, we continuously seek to expand our digital offerings and deploy innovative digital solutions in line with our customers’ evolving needs and lifestyle.” Matouk added: “The new service is a valuable opportunity for customers to benefit from their reward points within the ‘Arabi Points’ program and receive exclusive discounts at a wide network of merchants included in the service.”

It is worth mentioning that “Arabi Points” is Arab Bank’s customer relationship-based loyalty program that grants customers reward points based on their daily interactions with Arab Bank and enables them to redeem the points for cash or free vouchers that can be used at a wide network of merchants, in addition to the ability to use the reward points to pay via “Arabi MobiCash” app.

Arab Bank launched a set of new credit card features through its “Arabi Mobile” app as part of the bank’s constant efforts to provide the latest digital banking services and solutions offering customers a seamless banking experience within the highest levels of flexibility and security.

The new features available on “Arabi Mobile” app include card spend analysis which enables cardholders to track their spending with the option to compare current spend with previous months. This convenient feature helps customers identify and manage expenses with utmost ease and flexibility. Among the new features is the temporary virtual credit card option for creating an instant virtual credit card securely, to be used online or through “Arabi MobiCash” with the same credit limit of the existing card, giving cardholders additional security when conducting e-commerce transactions thus reducing the risk of fraud. The new features also include the PIN code inquiry feature directly through the app, without the need to visit the branch or contact customer service, as well as the option to view the card’s information when needed, including credit card number, card verification value (CVV) and expiry date.

It is worth mentioning that the “Arabi Mobile” app offers a host of digital banking solutions that enable customers to conduct their transactions digitally around the clock from anywhere using smartphones and tablets within the highest levels of flexibility and security. Additionally, customers who are interested in opening accounts with Arab Bank can now download "Arabi Mobile" app through App Store or Google Play and Huawei AppGallery then use the option "Open New Account" available through the application to enter the required information without the need to visit a branch.

Arab Bank launched a special financing offer in collaboration with the National Arab Motors Co. – Kia Jordan on Kia Niro 2020 and Kia K5 2021 models, as part of its constant efforts to provide its customers with value-added banking services and promotions in line with their expectations and diverse needs.

The offer, which will run until 28 February 2021, allows customers who desire to purchase any of the two car models to benefit from many exclusive privileges including preferential interest rates, free insurance, free maintenance contract and complimentary roadside assistance. This is in addition to obtaining the loan at zero down payment with no loan processing fee, all through a simple and easy process.

Commenting on the offer, Mr. Yacoub Matouk, Head of Consumer Banking at Arab Bank – Jordan, said: “We continuously seek to provide our customers with comprehensive financing solutions and value-added offers in line with their financial needs.” He added: “Our collaboration with Kia Jordan offers a unique opportunity for customers to own their Kia vehicle with competitive specifications while benefiting from an array of exclusive privileges.”

For his part, Mr. Mohammad Alayyan, Chief Executive Officer of National Arab Motors – Kia Jordan, said: “At Kia Jordan, we take pride in providing the local market with a selection of high-quality reliable vehicles. We also aim for extending innovative financing solutions in collaboration with leading financial institutions, foremost of which is Arab Bank, whom we are proud to collaborate with on this promotional campaign for the Kia Niro and Kia K5 vehicles.”

It is worth mentioning that Arab Bank’s auto loans offer a wide range of benefits, including competitive interest rates, loan amounts up to JOD 100,000 with a tenor up to 8 years, options to finance more than one car, including new and used cars according to the bank’s special terms and conditions, in addition to a dedicated sales team. Arab Bank also offers the ability to apply for a loan online easily through the bank’s digital banking services which include Arab Bank’s website, the bank’s mobile application “Arabi Mobile” and its internet banking service “Arabi Online”.

Arab Bank recently launched a special promotional offer in collaboration with Rentalcars.com, the world's largest online car rental service, giving the bank’s cardholders in Jordan a 10% discount on car rental. Arab Bank is the first bank in the region to sign a collaboration agreement with Rentalcars.com, which operates across 160 countries worldwide and arranges car rental from over 60,000 pick up locations.
The new offer provides Arab Bank credit, debit and internet shopping cardholders with a 10% discount when renting the car of their choice through a special dual-branded link - Arab Bank and Rentalcars.com. Thus, enabling them to easily log in to Rentalcars.com, choose a car and to automatically redeem their discount.

Commenting on the joint cooperation, Mr. Yacoub Matouk, Head of Consumer Banking at Arab Bank – Jordan, said: “We continuously seek to provide our valued customers with exclusive offers in line with their expectations and diverse needs.” Matouk added: “Through this offer, Arab Bank cardholders in Jordan are able to take advantage of an exclusive discount on car rental and enjoy a flexible and easy booking experience when accessing Rentalcars.com through a unique link dedicated to Arab Bank customers.”

It is worth mentioning that Arab Bank credit cards provide a wide range of benefits to its holders, including worldwide acceptance, easy and secure access to credit card accounts anytime through both “Arabi Mobile” and the bank’s internet banking service “Arabi Online”, in addition to the easy payment plan for convenient instalments at a variety of merchants. Arab Bank cardholders can also use the “Arabi MobiCash” application to pay with their cards using their smartphones.

As part of Arab Bank’s ongoing exclusive offers to “Arabi Junior” customers, a banking program for children and teens up to the age of 17 years, the bank has recently launched a special promotional offer in collaboration with “I Read Arabic” online platform from Little Thinking Minds – a leading digital platform for levelled reading that aims to develop Arabic fluency among children. This comes as part of Arab Bank’s constant efforts to expand its digital offerings and deploy innovative digital solutions in line with its customers’ evolving needs and expectations.

The offer, which will run until 31 October, 2021, enables “Arabi Junior” customers to benefit from a free subscription with access to all the services available on the “I Read Arabic” online platform for students at kindergarten up to high school including books, worksheets, videos, games, and assessments. Customers are able to benefit from this offer through subscribing to the platform on  “Arabi Mobile” App.

Commenting on this offer, Head of Consumer Banking at Arab Bank – Jordan, Mr. Yacoub Matouk, said: “The launch of this offer reflects Arab Bank’s constant efforts to provide its customers with value-added services based on their evolving needs and expectations.” Matouk added: “ Our collaboration with “I Read Arabic” platform constitute a valuable opportunity for parents and teachers to benefit from the platform and assist their children in acquiring reading and language skills as well as keeping track of their performance.”

For her part, Ms. Salwa Katkhuda, Partner and Strategy and Growth Manager at Little Thinking Minds, stated: “We are very proud of our collaboration with Arab Bank, which stems from our shared belief in the importance of mastering the native language as a key pillar for education, by preparing a generation of readers and intellectuals.” 
It is worth noting that “Arabi Junior” program provides a host of comprehensive banking and non-banking services specially designed to encourage parents to save for their children’s future. These benefits entail: digital saving service “e-Tawfeer” via “Arabi Mobile” app with preferential and competitive rates in addition to the “Instant Saver” feature which allows parents to save for their children upon every purchase they make using their debit or credit cards, through deducting a pre-set percentage or a rounded-up amount from each transaction value to be automatically transferred to the child’s “Arabi Junior” account. The program also offers the Contactless bracelet “BandPay” exempted from issuance fees and available in colors and different sizes that are suitable for children and teens.

As part of Arab Bank’s ongoing exclusive offers to “Arabi Junior” customers, a banking program for children and teens up to the age of 17 years, the bank has recently launched a special promotional offer in collaboration with “Abwaab” Online Learning Platform. This comes as part of Arab Bank’s constant efforts to expand its digital offerings and deploy innovative digital solutions in line with its customers’ evolving needs and expectations.

Through the offer, “Arabi Junior” customers are able to benefit from a complimentary one schooling year subscription at the online learning platform “Abwaab” that deploys the latest technologies in education and enables students to learn remotely through a series of engaging video lessons and artificially intelligent assessments. Customers are able to benefit from this offer by subscribing to the platform through “Arabi Mobile” App. Upon the completion of the registration process, the App will share a free “Abwaab” login key, which enables students to access the full national-stream material from grades 7 to 12 (Tawjihi) for the entire academic year.

Commenting on this offer, Head of Consumer Banking at Arab Bank – Jordan, Mr. Yacoub Matouk, said: “We continuously seek to provide our customers of all ages with value-added offers that meet their diverse needs and expectations.” He added: “Through our collaboration with “Abwaab”, “Arabi Junior” customers and their parents get the opportunity to benefit from the brief lessons available on the online platform around the clock, in a way that helps reinforce their performance during the academic year.”

In turn, Mr. Hamdi Tabbaa – Co-founder and CEO of “Abwaab” – expressed his pride in working with Arab Bank by stating: “Arab Bank is one of the leading financial institutions in the region that continuously supports education. Our joint collaboration embodies our shared vision towards supporting this key sector in Jordan through focusing on promoting education in general and smart education in particular, while reinforcing our online platform with the highest quality content for students across the Kingdom.”

It is worth noting that “Arabi Junior” program provides a host of comprehensive banking and non-banking services specially designed to encourage parents to save for their children’s future. These benefits entail: digital saving service “e-Tawfeer” via “Arabi Mobile” app with preferential and competitive rates in addition to the “Instant Saver” feature which allows parents to save for their children upon every purchase they make using their debit or credit cards, through deducting a pre-set percentage or a rounded-up amount from each transaction value to be automatically transferred to the child’s “Arabi Junior” account. The program also offers the Contactless bracelet “BandPay” exempted from issuance fees and available in colors and different sizes that are suitable for children and teens.

As part of its Corporate Social Responsibility program “Together”, Arab Bank has recently renewed its collaboration agreement with the Jordan Air Ambulance Center for the fifth consecutive year. The cooperation aims at supporting the center’s operations and reinforce its role in raising the standard of medical services across the Kingdom.

As part of the agreement, Arab Bank’s support will be directed towards the main services of the Air Ambulance Center, primarily the transportation of patients and injured persons aerially through rescue and evacuation missions using helicopters, from remote locations to specialized medical centers to receive the needed medical care that requires emergency services.

Commenting on the bank’s support, CEO at Jordan Air Ambulance Center, Captain Rami Al Emoush stated that Arab Bank’s support reflects the leading community role it plays on a national level. He added: “We are proud of our continued cooperation with a prominent financial institution like Arab Bank. This cooperation is an example of a successful corporate social responsibility program. It also embodies the constructive partnerships built with the private sector in order to provide our citizens with access to life-saving medical services.”

It is worth mentioning that “Together”, Arab Bank’s Corporate Social Responsibility program, is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in the areas of health, poverty alleviation, environmental protection, education and orphan support.

Arab Bank Group reported net income after tax of $ 215.2 million for the nine months of 2020 as compared to $668.9 million for the prior period, recording a drop of 68%.

The fall in the profits is attributable to the build up of higher provisions, driven by current and forecasted economic conditions, and reflects the deterioration in the macro-economic environment in the region and globally, and to lower revenues from interest and fee income because of the impact of the Covid-19 outbreak and lower market interest rates and weakening oil prices.

Group net operating income is at $ 808 million, recording a drop of 22% from prior period as a result of a decrease in net interest and commission income, in addition to a drop in the profits of the bank’s associates in the Gulf.  Customer deposits grew by 8% to reach $ 37.5 billion as compared to $ 34.7 billion, while loans grew by 2% to reach $26.7 billion as compared $ 26.1 billion. The Group maintained its strong and robust capital base with equity of $9.3 billion and with a capital adequacy ratio of 16.7% calculated in accordance with Basel III regulations. The Group enjoys high liquidity with a loan-to-deposit ratio of 71.1%, while credit provisions held against non-performing loans continue to exceed 100%.
 
Mr. Sabih Masri, Chairman of the Board of Directors remarked that the pandemic has had, and continues to have, a significant impact on businesses around the world.

Mr. Sabbagh, Chief Executive Officer, stated that the global and regional banking sectors will continue to face challenges because of the economic contraction, the higher cost of risk, and lower interest rates. He added that growth in the GCC countries has also declined sharply due to the plunge in oil prices.

Mr. Sabbagh highlighted that the increased provisions booked across the Group are in accordance with the guidelines of International Financial Reporting Standard # 9, and as per the bank’s internal expected credit loss model, and include general provisions built due to the current economic situation in Lebanon. 

Mr. Masri concluded by stating that the pandemic has negatively affected the performance of banks throughout the region and globally, and affirmed that Arab Bank Group will continue to maintain its strong and resilient financial position.

Arab Bank recently launched “Arabi Fitness” service through “Arabi Mobile” App in collaboration with “FittiCoin”, an App developed by a Jordanian startup which aims to encourage users to adopt a healthy lifestyle. The launch of this new service comes as part of Arab Bank’s constant efforts to expand its digital offerings and deploy innovative digital solutions in line with its customers’ evolving needs and lifestyle. The new service is also part of Arab Bank’s initiatives to support local startups, especially those working in the fields of digital technology and innovation.

The new “Arabi Fitness” service offers Arab Bank’s customers who exercise regularly the ability to convert their steps calculated on “FittiCoin” App into “Arabi Points” reward points using “Arabi Mobile” App and subsequently redeem these points anytime at a wide list of merchants participating in the program, including restaurants, shops, gas stations and many more. The reward points can also be converted into their equivalence in cash through any Arab Bank ATM or as money transfers via Arabi Mobi Cash App. The points can be also be utilized to pay for purchases using “Arabi MobiCash” App at any of the merchants who accept payments through “Arabi MobiCash”.

Commenting on the launch of the new service, Mr. Yacoub Matouk, Head of Consumer Banking at Arab Bank – Jordan, said: “We continuously seek to provide our customers with advanced services through deploying the latest technologies in the banking industry in line with their lifestyle and needs.” Matouk added: “The new ‘Arabi Fitness’ service is part of an array of services that will be available through Arab Bank’s new ‘Arabi Health’ program, which aims to encourage customers to adopt healthy habits that will elevate their wellness and contribute to preventing illness, thus leading to an overall healthier lifestyle.”

It is worth mentioning that the “Arabi Fitness” service is available for free through the “Arabi Mobile” App, which can be downloaded from App Store, Google Play or Huawei AppGallery.

Arab Bank recently launched a social payment App “Arabi Pay”, which allows customers to make payments through social networking and messaging Apps such as WhatsApp, Facebook Messenger and Instagram via a special keyboard designed specifically for smartphones. The new service is yet another addition to the bank’s latest digital banking solutions providing customers with a seamless banking experience within the highest levels of flexibility and security.

Arab Bank customers are able to download “Arabi Pay” through App Store or Google Play and register easily by logging in using their existing “Arabi Online” or “Arabi Mobile” credentials. Customers can then conduct transfers by clicking on the “Arabi Pay” keyboard available via messaging and social networking Apps, selecting a contact from the existing contact list, entering the transfer amount and an emoji to describe the payment. The amount then gets immediately credited to the receiver’s bank account, who should have an Arab Bank account to complete the transfer. Moreover, the App provides users with a wide range of benefits, including: daily transfers for a total amount of JOD 150 with a maximum of JOD 50 per transaction, the ability to authenticate transactions through fingerprint or FaceID based on the device authentication mechanism, the ability to retrieve transaction history, in addition to many more benefits.

The concept of “Arabi Pay” was developed as part of Arab Bank’s internal FinTech program “Intrapreneur”. Through this program, a wide range of FinTech ideas were submitted by the bank’s employees and the best ideas were selected to be executed as projects through the relevant departments.

Commenting on the launch of the service, Head of Consumer Banking at Arab Bank – Jordan, Mr. Yacoub Matouk, stated: “The launch of ‘Arabi Pay’ reflects Arab Bank’s continuous efforts towards deploying the latest solutions in financial technology (FinTech) to provide customers with an advanced seamless banking experience in line with their lifestyle.” Matouk added: “Through the App, customers can conduct transfers within seconds using the ‘Arabi Pay’ keyboard available on the most common social Apps, without the need to switch applications, thus saving them time and effort.”

It is worth mentioning that Arab Bank  was recently awarded the “Best Mobile Banking App 2020” award in recognition of both its “Arabi Mobile” and “ArabiConnect” Apps offered to its Individual and Corporate customers, respectively, in Jordan, by Global Finance Magazine – New York. The list of awards that Arab Bank received from Global Finance in recognition of its consumer and corporate digital banking services for 2020 in Jordan also included: “Best in Social Media Marketing and Services”, “Best Website Design”, “Best Bill Payment and Presentment” and “Best Online Trade Finance Provider”.

Arab Bank announced the renewal of its strategic cooperation agreement with Tkiyet Um Ali (TUA) for the 13th consecutive year, under which Arab Bank will support TUA’s underprivileged beneficiary families, who are most affected by the current COVID-19 crisis.

Through the agreement, Arab Bank will provide monthly food parcels to TUA’s underprivileged families as part of TUA’s sustainable food aid program. The bank’s support will be provided over the course of a year and will fulfill the daily needs of each family for the entire month.

This partnership comes as part of Arab Bank’s corporate social responsibility program, which aims to improve different aspects of the community, such as providing support to low-income families that were deeply affected by the COVID-19 crisis and its economic repercussions. This is in addition to the bank’s constant efforts to support Tkiyet Um Ali’s humanitarian role in combating hunger through providing sustainable food aid to families living in poverty pockets.

Commenting on this collaboration, Director General at Tkiyet Um Ali, Mr. Samer Balkar stated: “We take pride in working with Arab Bank, one of the leading financial institution in the country with a distinguished track record in community development.” Balkar added: “The private sector’s support is more vital than ever during these exceptional times and is a true manifestation of its belief in our vision to achieve a hunger-free Jordan.”

Tkiyet Um Ali will distribute the food parcels to underprivileged families benefiting from their sustainable food aid program. These families consist of members who are unable to work, with 80% of them being children, orphans, widows and elderly, as well as those with special needs and terminal illness.

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve economic, social and environmental sustainable development. ‘Together’, Arab Bank’s corporate social responsibility program, is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in health, poverty alleviation, environmental protection, education and orphan support.

As part of Arab Bank’s series of exclusive offers to “Arabi Junior” customers, a banking program for children and teens up to the age of 17 years, the bank has recently launched a special promotional offer in collaboration with “Shahid VIP”, a subscription video on demand platform by the MBC Group.

Through this offer, “Arabi Junior” customers can benefit from a three-month free subscription in “Shahid VIP” which also includes programs for children, upon activating “Arabi Junior” Visa Credit Card.

Commenting on this offer, Head of Consumer Banking at Arab Bank – Jordan, Mr. Yacoub Matouk, said: “This offer reflects Arab Bank’s constant efforts to provide its customers of all ages with value-added offers that meet their diverse needs and expectations.” He added: “Through our collaboration with ”Shahid.net”, “Arabi Junior” customers and their parents get the opportunity to exclusively benefit from the “Shahid VIP” services, providing a full range of entertaining programs that are especially designed for children.”

It is worth noting that “Arabi Junior” program provides a host of comprehensive banking and non-banking services specially designed to encourage parents to save for their children’s future. These benefits entail: digital saving service “e-Tawfeer” via “Arabi Mobile” app with preferential and competitive rates, the “Instant Saver” feature, which allows parents to save for their children upon every purchase they make using their debit or credit cards, through deducting a pre-set percentage or a rounded-up amount from each transaction value to be automatically transferred to the child’s “Arabi Junior” account, as well as the Contactless bracelet “BandPay” exempted from issuance fees and available in colors and different sizes that are suitable for children and teens. The program also offers education savings insurance plan with waiver of the first monthly installment “Lamma Yakbarou“, easy payment plans for schools tuition fees at 0% interest over 12 months, joining bonus reward points within the “Arabi Points“ program, and monthly cash prizes up to JOD 10,000. This is in addition to Special discounts and offers at various shopping outlets, toy stores, entertainment centers and educational centers, free subscription in "I Read Arabic" App, bonus rewards points when upgrading the account from “Arabi Junior” program to “Shabab” program and many more benefits.

Arab Bank has recently launched a new service through its “Arabi Mobile” App as part of its constant efforts to expand its digital offerings and deploy the latest digital banking solutions that provide customers with a seamless banking experience in line with their evolving needs and expectations.

The new digital e-voucher service caters to different consumer segments through categories available on the “Arabi Mobile” App, including: e-gaming, entertainment platforms such as music, movies, video on-demand and live streaming, e-commerce platforms, in addition to cloud-based video conferencing platforms. The “Arabi Mobile” App offers flexible e-voucher purchase options that include paying directly from an Arab Bank account, through Arab Bank credit card or by using “Arabi Points” to transfer the needed loyalty points to their equivalence in cash. The App also offers the sharing feature, which allows customers to share e-vouchers with others via social messaging Apps such as Whatsapp and Facebook Messenger, or via email. This is in addition to purchasing e-vouchers at preferential rates and benefiting from Arab Bank’s exclusive offers that enable “Arabi Mobile” users to receive cashback of a certain amount accredited automatically to their account.

Commenting on this campaign, Mr. Yacoub Matouk, Head of Consumer Banking at Arab Bank – Jordan, said: “The launch of the e-voucher service via the Arabi Mobile App comes as part of Arab Bank’s ongoing efforts to provide innovative digital banking solutions and services to customers.” Matouk added: “This service is yet another value-added addition to Arabi Mobile’s digital features that save customers time and effort, all while catering to different consumer segments.”

It is worth mentioning that the “Arabi Mobile” App offers a host of digital banking solutions that enable customers to conduct their transactions digitally around the clock from anywhere using smartphones and tablets within the highest levels of flexibility and security.

Arab Bank and King Hussein Cancer Foundation (KHCF) have recently renewed their memorandum of understanding (MoU) for the fourth consecutive year, under which Arab Bank will support the “Back to School” Program at KHCF for the academic year of 2020 - 2021.

This cooperation aims to support the active role undertaken by KHCF in enabling student patients to have continued access to education during their course of treatment, through the assignment of teachers by the Ministry of Education to oversee the program and liaise between patients and their schools.

Over the years, Arab Bank’s support of the program covered several aspects, including: weekly classes, private lessons, and remote classes taught by the bank’s volunteering employees, school supplies such as stationery, books and laptops, as well as covering school tuition fees for children with special needs.

Ms. Nisreen Qatamish, Director General of the King Hussein Cancer Foundation, expressed her gratitude towards Arab Bank’s ongoing support of the program, stating: “For four successive years, Arab Bank continues to provide its valuable support to our student patients to help them realize their dreams and shape a better future for them. We value Arab Bank’s noble role and its belief in the holistic care we provide to our patients, which includes medical, psychological, and academic aspects.”

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve economic, social and environmental sustainable development. “Together”, Arab Bank’s corporate social responsibility program, is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in health, poverty alleviation, environmental protection, education and orphan support.

Global Finance, the New York-based international publication, has recently granted Arab Bank the “Best Mobile Banking App 2020” award in recognition of both its “Arabi Mobile” and “ArabiConnect” Apps offered to its Individual and Corporate customers, respectively, in Jordan. The bank was chosen by a world-class panel of judges, which included experts in consulting, technology, and outsourcing, in addition to the magazine’s team of editors.

This global recognition comes as a result of Arab Bank’s constant efforts to deploy the latest digital banking solutions, offering customers across different sectors a seamless and responsive banking experience that meets their evolving needs and expectations.

Arab Bank was selected for these awards based on several factors including: strength of strategy for attracting and servicing digital customers, success in getting clients to use digital offerings, growth of digital customers, breadth of product offerings, evidence of tangible benefits gained from digital initiatives and web/mobile site design and functionality.

“Arabi Mobile” App represents a value-added proposition that complements Arab Bank’s digital banking channels giving customers further flexibility and the access to bank conveniently around the clock from wherever they are. The App’s features include: instant registration, login with FaceID or fingerprint, personalized app design based on the customer’s account type, credit card dues payment and funds transfer, access to digital products such as savings and deposits account, e-voucher purchase from a wide list of merchants, special services for the “Arabi Junior” program such as the instant savings feature and beneficiary management and others, contactless cash withdrawal and the KYC feature. Moreover, the App enhances the customer experience by providing an added value through connecting with different partners to provide its users with many benefits and services. This is in addition to the ability to open an account online through the App using simple steps and many other features and benefits.

 As for “Arabi Connect” App, it enables Arab Bank’s corporate clients to conduct and execute cash management and trade finance transactions seamlessly, around the clock from wherever they are. The platform is part of Arab Bank’s fully integrated portfolio of smart digital banking solutions designed for the corporate sector and aligned with the latest advancements in the banking industry.

It is worth mentioning that the list of awards that Arab Bank received from Global Finance in recognition of its consumer and corporate digital banking services for 2020 in Jordan also included: “Best in Social Media Marketing and Services”, “Best Website Design”, “Best Bill Payment and Presentment” and “Best Online Trade Finance Provider”.

Arab Bank has recently launched a special promotional offer in collaboration with Booking.com, one of the leading online travel agencies in the world. The offer aims at encouraging domestic tourism and introduces exclusive benefits to Arab Bank credit cardholders when using their cards to pay for their vacation inside Jordan.  

This offer, which will run until 15 August, 2020, targets Arab Bank debit and credit cardholders and entails 8% cashback of the value of the cardholder’s reservation credited automatically to his/her card account. This is in addition to earning reward points through “Arabi Points” program, which allows customers to earn points whenever they use their credit cards for purchases and redeem their points for cash and other rewards.  Additionally, the offer allows Arab Bank credit cardholders to exclusively benefit from the Easy Payment Plan Program with a 0% interest rate up to 12 months upon using their credit cards to make payments. 

The offer is valid exclusively for bookings made until 20 September 2020 through www.Booking.com/Arabbank

Commenting on this offer, Head of Consumer Banking at Arab Bank - Jordan, Mr. Yacoub Matouk, said: “This strategic collaboration with Booking.com reflects Arab Bank’s constant efforts to provide its customers with value-added promotions that meet their diverse needs and fit their lifestyles.” He added: "Through this offer, our customers get the opportunity to discover Jordan’s unique touristic sites and spend exciting summer holidays while benefiting from Arab Bank’s digital banking services to make online reservations and payments easily and securely in addition to earning reward points.”

It is worth mentioning that Arab Bank credit cards provide a wide range of benefits to its holders, including worldwide acceptance, easy and secure access to credit card accounts anytime through both “Arabi Mobile” and the bank’s internet banking service “Arabi Online”, in addition to the easy payment plan for convenient installments at a variety of merchants. Arab Bank cardholders can also use the “Arabi MobiCash” application to pay with their cards using their smartphones.

Arab Bank has recently opened its new branch in Al-Karak, located in Al-Thaniah opposite Al-Karak Chamber of Commerce, as part of the bank’s strategy to reinforce its branch network across the Kingdom and to connect with its customers at various locations.

Commenting on the opening of the new branch, Head of Consumer Banking at Arab Bank – Jordan, Mr. Yacoub Matouk, said: “The opening of the new Al-Thaniah branch, with its modern set-up and integrated systems, is in line with Arab Bank’s ongoing efforts to provide its customers with the best solutions and banking services that meet their needs and expectations.” Matouk added: “The new branch enables our customers to conduct their banking transactions with utmost convenience and ease.”

In addition to the comprehensive and personalized banking services offered to “Arabi Premium” customers, the new branch also provides its customers with the usual banking services, such as opening all types of accounts, personal loans, auto loans, housing loans and credit card services, in addition to the digital banking services.

As part of its constant efforts to provide value added banking services and programs, Arab Bank recently revamped its Children’s savings program and relaunched it under the brand “Arabi Junior”, offering an array of new benefits and features for children and teens up to the age of 17 years.

The new “Arabi Junior” program offers a host of banking and non-banking benefits, specially designed to encourage parents to save for their children’s future and to create a fun and rewarding savings experience, fostering a financial culture among kids at an early age. The benefits of the new program entail: various options of deposits at preferential interest rates, money transfers from parents accounts to “Arabi Junior” accounts without fees, Visa debit card enabled for online purchases with a special design at no monthly fees as well as the Contactless bracelet “BandPay” exempted from issuance fees and available in colors and different sizes that are suitable for children and teens. “BandPay” allows payment from the Visa debit card by waving the bracelet over the POS device at merchants that accept Contactless payments without using cards. This is in addition to the “Instant Saver” feature, which allows parents to save for their children upon every purchase they make using their debit or credit cards, through deducting a pre-set percentage or a rounded-up amount from each transaction value to be automatically transferred to the child’s “Arabi Junior” account. The program also offers a special gift upon account opening, bonus reward points within “Arabi Points” program and monthly cash prizes up to JOD 10,000. 

Additionally, “Arabi Junior” entails an educational savings plan with waiver of the first monthly installment, special discounts and offers at various shopping outlets, toy stores, entertainment centers and educational centers, as well as bonus reward points when upgrading the account from “Arabi Junior” to “Shabab” program after the age of 17. It also provides the option of converting the reward points’ balance into cash and transferring it from the parent’s account to “Arabi Junior” account within “Arabi Points” program. The new program also entails the ability to view “Arabi Junior” balance details anytime, anywhere via “Arabi Mobile” app, in addition to using the digital saving service “e-Tawfeer” via “Arabi Mobile” app, which provides a host of savings tools with preferential and competitive returns and many more benefits.

Commenting on the new program’s launch, Mr. Yacoub Matouk, Head of Consumer Banking at Arab Bank – Jordan, said: “The launch of “Arabi Junior” program comes as part of Arab Bank’s leading initiatives and ongoing efforts to provide the latest programs and services to its valued customers in line with their current and future banking needs.” He added: “The new program provides a perfect savings opportunity for parents and their children – up to 17 years old - as it offers a host of unique banking privileges designed specially to cater to the needs of this age group and provides parents with an added value that enables them to establish a solid financial base for their children’s future.” 

It is worth noting that “Arabi Junior” program is part of Arab Bank’s comprehensive banking programs offering, supported by fully integrated digital channels designed to meet the evolving banking needs of the whole family throughout its life cycle. The bank’s array of programs respond to the needs of children, youth, employees, and professionals, in addition to providing banking and wealth management programs for middle to high net worth groups, as well as bancassurance services. 

Arab Bank has recently introduced the Contactless (NFC) technology across a wide group of its ATMs in Jordan, allowing ATM users to conduct cardless transactions easily, safely and conveniently. The launch of Contactless technology comes in line with the bank’s continuous efforts to reinforce its comprehensive digital banking services, and provide its customers with innovative banking solutions that save their time and effort.  

Through the Contactless technology on Arab Bank ATMs, customers will be able to access their accounts and carry out banking transactions by simply waving their NFC-enabled debit cards over the ATM’s Contactless reader and then entering their PIN code. Arab Bank customers who are interested in this service can instantly issue NFC-enabled debit cards anytime via the Transactional Kiosk machines available at selective Arab Bank branches. They can also request the issuance of NFC-enabled debit cards through any of Arab Bank’s branches. 

As part of the Contactless technology, Arab Bank customers can also perform their banking transactions at any of Arab Bank’s NFC-enabled ATMs using the Contactless bracelet “BandPay” or the Contactless mobile sticker, by simply waving these items over the ATM’s Contactless reader, and then entering the PIN code - without using their cards.

Commenting on launching this technology, Mr. Yacoub Matouk, Head of Consumer Banking at Arab Bank – Jordan said: “The launch of the Contactless technology on ATMs by Arab Bank for the first time in Jordan comes as part of the bank’s strategy to continuously deploy the latest digital banking solutions and provide customers with a unique and seamless banking experience.” He added: “The launch of NFC technology is yet another step in the bank’s digital journey towards providing our customers with the best value propositions designed to meet their evolving needs and lifestyle.”

It is worth mentioning that the Contactless bracelet “BandPay” and the Contactless mobile sticker can both be used at different points-of-sales without the need to enter the PIN code up to a preset maximum daily limit. Arab Bank’s customers can issue both items through any of the bank’s branches. 

As part of their long-term collaboration towards reinforcing the values of social solidarity, Arab Bank continued its support to Tkiyet Um Ali’s programs during the holy month of Ramadan. This entailed distributing food parcels and delivering iftar meals to underprivileged families replacing the regular Ramadan practice “Mawae’d al-Rahman” which is usually held at Tkiyet Um Ali premises during Ramadan every year. The initiative this year came to provide the support to the needy families while complying with the government measures undertaken to combat the spread of Coronavirus.   

Through this initiative, Arab Bank was able to provide families living in poverty pockets with 1,460 iftar meals, and donate a total of 147 food parcels to Tkiyet Um Ali’s underprivileged families.  

Mr. Samer Balkar, Director General of Tkiyet Um Ali, thanked Arab Bank for its continuous support, stating: “We are grateful for Arab Bank’s long-term commitment and support over the years, especially during the exceptional circumstances that the Kingdom is going through. This support is a true manifestation of Arab Bank’s vital contribution to securing food for underprivileged families across the Kingdom, ¬¬and its belief in Tkiyet Um Ali’s mission to eradicate hunger in Jordan.” 

It is worth noting that Tkiyet Um Ali provides sustainable food aid to 30,000 underprivileged families living in extreme poverty in all provinces and governorates across the Kingdom which constitute of 150,000 individuals. The families receive monthly parcels containing 24 food items that include all the basic nutritional elements which fulfill the needs of a family for an entire month. Moreover, Tkiyet Um Ali is also reaching those who are in urgent need for food aid in light of the current situation. 

Since the launch of its social responsibility program “Together”, Arab Bank has continued to support initiatives aimed at community development. The bank also provides its customers various donation channels which are simple and easy to use. Customers can also donate directly to non-profit organizations participating in “Together” program. These donation channels include: ATM, Arabi Online (Internet banking service), in addition to Together Platinum credit card. 

The Children’s Museum Jordan continued its online “Community Connections” program, sponsored by Arab Bank, despite closing off its doors in response to COVID-19. The “Community Connections” program encompasses several educational courses, designed and conducted exclusively by the Children’s Museum Jordan for children and their families to enjoy over the course of a year. 

Considering that Ramadan educational activities were the most sought after by kids and parents and in light of the coronavirus pandemic, the museum launched a special online edition of it through its social media pages, allowing children and their families, in Amman and different governments, to engage with the program using their smartphones from the convenience of their homes.

The special Ramadan online program, hosted by the museum’s team and partners, entailed a wide range of visual and audio content on art, science, literature, activities that can be easily applied by children at home, video experiments, live sessions with parenting and childhood experts as well as story-telling activities and a Ramadan competition for families to enjoy.  

Arab Bank’s sponsorship of the Children’s Museum Jordan comes as part of its corporate social responsibility program “Together” that focuses on Education as one its main pillars, particularly within the scope of developing educational content that enriches children’s learning experience in line with the latest trends in the field. Ramadan program offers an array of online educational courses that families can benefit from at home, to reinforce extracurricular, distant learning, while providing a unique opportunity for parents to spend quality time with their children and assist them in utilizing their time productively during their stay at home. 

Ramadan program is available online on the Children’s Museum Jordan’s social pages:
Facebook: ChildrensMuseumJO
Instagram: @childrenmuseum

Arab Bank Group reported net income after tax for the first quarter of 2020 of $147.6 million as compared to $231.8 million for the prior period, recording a decrease of 36%.

Total loans amounted to $26.2 billion as of March 31, 2020 compared to $25.8 billion for the same period in the previous year, with a growth rate of 2%, while customer deposits grew by 5% to reach $35.2 billion compared to $ 33.7 billion for the same period in the previous year. The Group maintained its strong capital base with equity of $9.2 billion and a capital adequacy ratio of 16.5%.

Mr. Sabih Masri, Chairman of the Board of Directors remarked that the performance of Arab Bank confirms the success of the diversified business model of the Group regionally and globally. He also pointed out that the next phase will be challenging for the global and regional economies and will witness a slowdown in growth and difficulties for various sectors as a result of the outbreak of the Coronavirus pandemic. Mr. Masri added that he has great confidence in the Bank’s ability to deal with the challenges that lay ahead and noted that the Bank has in previous years demonstrated its effectiveness in operating in challenging economic environments.

Mr. Nemeh Sabbagh, Chief Executive Officer, commented that the Group net operating income dropped by only 2%, but the Bank opted to build more provisions during the first quarter of 2020 as a precautionary measure against the financial implications of COVID-19, and this resulted in the decrease in the reported net income after tax.

Mr. Sabbagh added that Arab Bank Group enjoys high liquidity and strong and robust capitalization. The Group’s loan-to-deposit ratio stood at 74.4% while the capital adequacy ratio calculated in accordance with Basel III regulations is at 16.5%, and credit provisions held against non-performing loans continue to exceed 100%. Commenting on the negative economic repercussions resulting from the outbreak of COVID-19, Mr. Sabbagh stated that the global banking sector will experience challenges as a result of the economic slowdown, the higher cost of risk and lower interest rates.

Mr. Masri concluded by remarking that Arab Bank was careful to take the necessary measures to protect the wellbeing of its employees and customers. He further added that Arab Bank has donated JD 15 million as part of its social responsibility in support of Jordan’s national efforts to combat the COVID-19 crisis and mitigate its health, economic and social repercussions on the Kingdom.

Arab Bank held its Ordinary and Extraordinary General Assembly meetings on April 28^th, 2020 online, becoming the first public shareholding company in the Kingdom to adopt a digital method of conducting general assembly meetings. The move comes in compliance with Defense Law (13) of 1992, Defense Order (5) of 2020 as well as the procedures issued by H.E. the Minister of Industry – Trade & Supply on April 9^th, 2020 in line the with the defense orders listed above.

The meetings were held online amidst the preventative measured taken by the government to combat COVID-19, including prohibiting gatherings and public meetings that may result in spreading the virus, in order to protect citizens’ health and safety. To this effect, the Companies Control Department prepared a special procedure and instructions to regulate the organization of meetings of general assemblies, boards of directors and executives assemblies of public shareholding companies, private shareholding companies and limited liability companies in a manner that serves the national economy and enables such parties to hold their meetings during the Defense Law period.

In accordance with the government procedures stipulated in this regard, Arab Bank has enabled its shareholders to register for the meetings electronically in advance and to attend the meetings through an advanced digital platform in line with the latest international practices in this respect. The bank also allowed shareholders with less than 10% of shares to send any questions they might have in advance to be answered by the Board of Directors and executive management instantly and during the meeting. This is in addition to the platform’s electronic voting mechanism, which allowed shareholders to vote in advance or instantly on the agenda items of both the ordinary and extraordinary general assembly meetings.  

Commenting on the online General Assembly, Mr. Sabih Masri, Chairman of the Board of Directors, stated: “Holding the General Assembly meeting is an annual necessity and requirement for the bank’s operations spanning five continents, thus despite the exceptional circumstances that the Kingdom and the world are facing, we ensured business continuity through deploying the latest digital solutions and practices.”

Mr. Masri added: “The Royal directives focusing on the economy’s protection and sustainability as well as the flexible procedures and instructions issued by the Ministry of Industry – Trade & Supply and the Companies Control Department, had the greatest impact on the success of this pioneering experience, which is considered an advanced step towards the transition to the digitized economy.”

For his part, Dr. Wael Armouti, the Companies’ General Controller, said: “We are pleased to see the success of Arab Bank’s experience in holding its general assembly meetings online. This initiative comes as a result of the Royal directives and the government’s vision and ongoing efforts to take decisions and set measures to provide advanced practical solutions and alternatives to enable companies continue their operations amidst the unprecedented challenges posed by the COVID-19 pandemic.” He added: “This initiative embodies the active partnership between the public and private sectors, where advanced digital solutions are deployed to hold general assembly meetings in a manner convenient to both shareholders and companies thus expanding the participation base of such meetings. In the coming period, we look forward to reinforcing the adoption of this approach across various companies operating in the Kingdom.”

It is worth mentioning that Arab Bank’s general assembly meeting had a shareholder participation rate of 78.13% of the Bank’s capital.

Arab Bank held its ordinary and extraordinary general assembly meeting online on April 28th, 2020, in compliance with Defense Law (13) of 1992, Defense Order (5) of 2020, that was published officially on March 31st, 2020 and the procedures issued by H.E. the Minister of Industry – Trade & Supply on April 9^th, 2020 in line with the defense orders listed above.

The meeting was headed by Mr. Sabih Masri, Arab Bank’s Chairman in the presence of the board  of directors,  the Chief Executive Officer and shareholders (in attendance and by proxy), which make up 78.13% of the bank’s capital. Dr. Wael Armouti, the Companies’ Controller had also attended the meeting.

During the meeting, all articles on the agenda of both the ordinary and extraordinary general assembly meetings were endorsed.

Mr. Sabih Masri, Chairman of Arab Bank’s Board of Directors, said: “Arab Bank’s general assembly meeting is held this year amid the unprecedented circumstances that the Kingdom and the entire world are facing in light of the COVID-19 pandemic. Efforts are being exerted across various levels to deal with this global crisis and to alleviate its health, economic and social repercussions.”

Commenting on Arab Bank’s performance, Mr. Masri stated that Arab Bank Group achieved a solid performance during 2019 despite the challenging circumstances in the region. The Group reported net income after tax of $846.5 million as compared to $820.5 million in 2018, recording a growth of 3.2%. Net income before tax grew to reach $ 1.15 billion as compared to $ 1.12 billion in 2018.

Revenues grew by 4.6% to reach $ 2.2 billion, and these have been generated broadly from both the local and international network, with the latter comprising close to 70% of total revenues. Net operating income increased to $ 1.3 billion, driven by the growth in interest and commission of the bank’s major operations and total expenses recorded a decrease of 3% from 2018.

Credit facilities grew by 1.2 % to reach $ 26.1 billion compared to $ 25.8 billion as of  December 31st, 2018, while customer deposits increased by 6% to reach $36.2 billion. The Group also managed to further grow its equity by 5% during the year to reach over $ 9 billion despite the exceptional distribution of 45% cash dividend for the year 2018, following the dismissal of the legal case. Group equity grew with a return on equity of 9.3%.

Arab Bank’s solid results were driven by sustainable growth in the underlying business and by well controlled expenses. The bank maintains a well funded balance sheet, strong liquidity and robust capital position and enjoys strong, prudent and healthy fundamental financial metrics. The Group’s loan-to-deposit ratio stood at 72.1 % while the capital adequacy ratio calculated in accordance with Basel III regulations is at 16.2 % in December 2019. Asset quality of the Group remains high and credit provisions held against non-performing loans continue to be above 100%.

Mr. Masri stated that the bank’s solid performance demonstrates its success in dealing with the challenging circumstances through its prudent operating policies, broad network across the region and well- diversified sources of income. Mr. Masri further stated that the bank is currently evaluating the financial and economic implications of COVID-19 crisis in order to combat and contain its repercussions.

It is worth mentioning that the distribution of dividends for the 2019 fiscal year was postponed in accordance with the circular no. 1/1/4693 issued on April 9^th, 2020 by H.E. the Governor of the Central Bank of Jordan to all banks operating in the Kingdom. 

Arab Bank was named “Best Bank in the Middle East for 2020” by Global Finance, New York for the fifth consecutive year.  The Bank was also named “The Middle East’s Best Bank 2019” by Euromoney – London.

A group of Arab Bank board members donated a total of JOD 150,000 to “Himmat Watan” fund in support of Jordan’s national efforts to combat the COVID-19 crisis and alleviate its health, economic and social repercussions on the Kingdom.

The board members praised the relentless national efforts, led by His Majesty King Abdullah II, in addressing the challenges resulted from this global pandemic and cushioning its implications in order to preserve the health and safety of citizens and protect the country’s resources and achievements.

Arab Bank’s employees donated JOD 1.25 million to “Himmat Watan” Coronavirus relief fund, in support of Jordan’s national efforts, led by His Majesty King Abdullah II, to combat the COVID-19 crisis and alleviate its economic and social repercussions on the Kingdom.

This donation reflects Arab Bank employees’ sense of responsibly and responsiveness. It embodies their spirit of solidarity and good citizenship as well as their sincere eagerness to fulfill the nation's call under various circumstances and challenges. The contribution comes to express the deep appreciation of Arab Bank’s employees towards the relentless efforts exerted by various government bodies to fight the Coronavirus and contain its ramifications, led by the Ministry of Health, the Jordanian Armed Forces (Arab Army), the Royal Medical Services and the security services.

The donation included JOD 1 million from Arab Bank’s employees across the Kingdom including the employees of Al Arabi Investment Group “AB Invest”, Arab National Leasing Company (Arab Bank’s subsidiaries) as well as Abdul Hamid Shoman Foundation, Arab Bank’s Cultural and Social Responsibility arm. It also included a JOD 150,000 contribution from Arab Bank’s Chief Executive Officer, Mr. Nemeh Sabbagh, and JOD 100,000 from Arab Bank’s Deputy Chief Executive Officer, Ms. Randa Sadik

It is worth mentioning that Arab Bank was at the forefront of supporters of Jordan’s national efforts to combat the COVID-19 crisis and mitigate its economic and social repercussions. Arab Bank had donated earlier a total of JOD 15 million to “Himmat Watan” Fund and the Ministry of Health as part of its national duty and social responsibility towards protecting the Kingdom and preserve its resources.

Arab Bank Group raised its donation to JOD 15 million in support of the Kingdom's efforts to combat COVID—19 and alleviate its repercussions. Arab Bank had earlier donated JOD 3 million to the Ministry of Health. The additional donation amount is directed towards “Himmat Watan”, Coronavirus national relief Fund.

Arab Bank raised the value of its donation as part of its patriotic duty and social responsibility and in support of Jordan’s national efforts to combat the COVID-19 crisis and mitigate its health, economic and social repercussions on the Kingdom.

Arab Bank expressed its sincere appreciation of all efforts exerted by the Kingdom, under the leadership of His Majesty King Abdullah II, and the participation of the different government bodies at all levels to address these exceptional circumstances. The bank also stressed the importance of collaboration, responsible citizenship and active community participation during these challenging times in order to ensure the health and safety of citizens and to protect the nation and preserve its resources and achievements.

As part of its national duty and social responsibility, and in light of the exceptional circumstances the Kingdom is facing in its fight against COVID-19, Arab Bank Group donated JOD 3 million to support Jordan’s national efforts to combat the spread of this pandemic. The donation will support in providing the necessary health care for the infected as well as the tests needed for suspected cases in order to mitigate the effects of this pandemic on the Kingdom.  

Arab Bank expressed its deep appreciation for the relentless efforts made by various government bodies at different levels across the Kingdom to address these exceptional circumstances. The bank also stressed the importance of collaboration, responsible citizenship and active community participation in order to ensure the safety and health of citizens and to protect the nation and preserve its resources and achievements during such challenging circumstances. 

Arab Bank has launched a special offer on its payment app “Arabi MobiCash” as 28 new merchants at City Mall recently joined a list of over 150 restaurants, shops and gas stations that accept payments through the app. The offer provides customers who use the app for their payments with the opportunity to win gift vouchers and guaranteed cashback rewards as well as doubled bonus points within “Arabi Points” program as part of the bank’s series of promotional offers and campaigns. 

The offer, which will run until February 17th, 2020, allows current and new customers to enter a draw to win one out of ten JOD 200 gift vouchers from City Mall when using “Arabi MobiCash” app to conduct payments at select merchants. The offer also allows customers to benefit from a guaranteed JOD 10 cashback deposited in their accounts every month when using the app to pay for purchases exceeding JOD 50 in total throughout the month at three different points of sale that accept payments through “Arabi MobiCash”. They will also benefit from doubled reward points within “Arabi Points” program, noting that Arab Bank employees will be available throughout the campaign period at the bank’s “Arabi MobiCash” booth – City Mall to assist customers with all their inquiries and to help those who are interested in Arab Bank services to open new accounts digitally. 

Commenting on this offer, Head of Consumer Banking at Arab Bank – Jordan, Mr. Yacoub Matouk stated: “We continue to introduce value-added promotions and offers aiming to reward our customers for using ‘Arabi MobiCash’, which provides them with seamless and flexible payment experience.” He added: “Arab Bank also offers individuals who wish to benefit from Arab Bank’s comprehensive services and exclusive offers the opportunity to open an Arab Bank account digitally in three simple and easy steps, using their smart phones and tablets via “Arabi Mobile” app.”

It is worth mentioning that “Arabi MobiCash” app - the first of its kind in the Kingdom - offers a host of comprehensive features including the ability to receive invoices using the QR Code or by entering the invoice number via the smartphone in order to pay it through the app. The app also offers the advantage of conducting payments without the need to be physically present at the merchant’s site, in addition to transferring bills easily and securely to other “Arabi MobiCash” users to pay it. The app also provides detailed reports and dashboards covering all transactions besides many other features.

“Arabi MobiCash” app is available through Apple Store and Google Play, providing users with the convenience to set up their account and password through the application directly, instead of contacting the bank.

Arab Bank has recently launched a special “Arabi MobiCash” offer for its “Shabab” program customers, providing them with an opportunity to receive guaranteed monthly cash rewards when conducting payments via “Arabi MobiCash” app. The offer comes as part of the bank’s continuous efforts to reward young customers by providing them with advanced payment services and value-added offers that meet their evolving needs and expectations. 

The offer, which will run until March 31st, 2020, allows young customers to benefit from a guaranteed JOD 10 deposited in their account every month when using “Arabi MobiCash” app to pay for purchases exceeding JOD 50 in total throughout the month at three different points of sale that accept payments through “Arabi MobiCash”. They will also benefit from doubled reward points within “Arabi Points” program. It is worth mentioning that individuals who are interested in opening accounts with “Shabab” program can do so electronically and in three simple steps, easily and securely,  using their smart phones and tablets via “Arabi Mobile” app.

Commenting on this offer, Head of Consumer Banking at Arab Bank – Jordan, Mr. Yacoub Matouk, stated: “Shabab program was specially designed to meet the evolving banking needs of youth, whether they are university students or employees.” Matouk added: “Shabab customers will now be able to benefit from “Arabi MobiCash” app to conduct payments easily and conveniently through their debit and credit cards through their smartphones. This is in addition to the financial reward offered now to them as an incentive to use the application.”

It is worth mentioning that the “Arabi MobiCash” app - the first of its kind in the Kingdom - offers a host of comprehensive features including the ability to receive invoices using the QR Code or by entering the invoice number via the smartphone in order to pay it through the app. The application also offers the advantage of conducting payments without the need to be physically present at the merchant’s site, in addition to transferring bills easily and securely to other “Arabi MobiCash” users. The app also provides detailed reports and dashboards covering all transactions besides many other features.

“Arabi MobiCash” app is available through Apple Store and Google Play, providing users with the convenience to set up their account and password through the application directly, and using a secret number, instead of contacting the bank.

As part of its social responsibility and ongoing efforts to support the education sector, Arab Bank has recently sponsored the “Job Shadowing” program implemented by INJAZ in cooperation with the Ministry of Education.

The educational program provided the opportunity for twenty students to visit and spend a full workday at six branches of Arab Bank with the aim to acquaint the students with a real life work place environment. The exercise focused on exploring the relationship between the academic (theoretical) knowledge acquired in school and the skills required in the working environment of the bank. 

Commenting on this initiative, Mr. Tareq Haj Hasan - Senior Vice President, Head of Branding at Arab Bank said: “Our continued cooperation with INJAZ dovetails with our corporate social responsibility program “Together”, through which we attach great importance to supporting the education sector given its vital role in achieving sustainable community development.” Haj Hasan added: “The program is an effective initiative towards strengthening and enriching the learning process through deploying interactive activities that build the skills and abilities of our students and expand their understanding in line with the latest developments, which in turn prepares them to deal with future opportunities and challenges.”

Mr. Muhannad Al Jarrah, Executive Director at INJAZ, stated that the “Job Shadowing” program implemented in cooperation with Arab Bank and the Ministry of Education aims at encouraging students to learn about the different career paths through field trips that focus on building their practical knowledge and provide them with an insightful orientation in this respect. 

He added that INJAZ’s cooperation with Arab Bank through this program covered different aspects, mainly familiarizing students with the real workplace environment in general and banks in specific. The students experienced the work environment firsthand through their direct interaction with Arab Bank volunteering staff, who took the students through the latest developments in the industry and encouraged them to set and pursue their own career goals and plans. 

It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve economic, social and environmental sustainable development. “Together”, Arab Bank’s corporate social responsibility program, is a multi-faceted program that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the program aims to serve the community in the areas of health, poverty alleviation, environmental protection, education and orphan support.