About Arab National Bank. [23] The Foundation organizes the Abd Al Hameed Shoman Cultural Forum which brings together leading scientists, educators and innovators of thoughtful discussion on today’s cultural issues. After years of being ranked A− from Fitch, A− from Standard & Poor, and A3 from Moody’s, the bank's rankings were dropped twice in 2011. The Bank commenced business on February 2, 1980 by taking over the operations of Arab Bank Limited in the Kingdom of Saudi Arabia. The Group’s equity grew to reach $8.7 billion while the return on equity increased to reach 9.5%. Delivered project on time and within budget helping Arab National Bank decrease ATM claims in Arab National Bank by 33% in first 6 months. Similar cases were brought against UBS, Credit Lyonnais, Bank of China, American Express Bank, National Westminster Bank and Commerzbank. [30] The verdict overturned from 22 September 2014 after 30 days of trial and two days of jury deliberation, found the bank liable for knowingly supporting terrorism relating to 24 different terrorist acts. The Bank is operating under the following segments: Retail … Moody's first downgraded its Local Currency Deposit Rating to Baa1,[14] and then downgraded the bank's Financial Strength Rating to a C− from a C. In both instances, Moody's noted the decision was based on an analysis of political instability in the region. 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. National Bank is more than just a bank: it's an integrated financial group. Provided bank with reconciliation system between core system, switch, Central Bank (SAMA), and Electronic Journal. It runs a network of more than 120 branches covering all parts of Saudi Arabia. 3419 0 obj <>stream [36] Oral arguments before the Supreme Court were held in October 2017, and on 24 April 2018, the Court affirmed the dismissal of all claims against the bank, finding that foreign corporations are not proper defendants in cases brought under the ATS. Headquartered today in Amman, Jordan, it serves clients in more than 600 branches spanning five continents. The Bank is operating under the following segments: Retail Banking, which includes deposit, credit and investment products for individuals; Corporate Banking, which includes loans and advances, deposits and other credit products for corporate and institutional customers, small to medium sized businesses and the … According to its website, the bank is the highest-ranked by market capitalization, and represents approximately 25% of the Amman Stock Exchange. Citibank is the consumer division of financial services multinational Citigroup. Arab Bank (Switzerland) Limited (sister institution), Ministry of Finance, Saudi Arabia, Member, This page was last edited on 15 January 2021, at 05:07. Please ensure you type the Arab Bank account number carefully. Correct and valid Arab Bank-Jordan account number must be entered to ensure a correct and valid IBAN is generated. M/38 dated Rajab 18,1399H (corresponding to June 13, 1979). The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Investment options include, amongst others; asset management, global and regional brokerage, and Shariah-compliant products. Arab Bank PLC Jordan owns 40 percent of the Arab National Bank. In 1974, after his father's death, Abd Al-Majeed Shoman was named Chairman and General Manager of Arab Bank. [10] In January 2007, Arab Bank established Europe Arab Bank (EAB), a London-based, fully owned subsidiary. Citibank was founded in 1812 as the City Bank of New York, and later became First National City Bank of New York. [34] The U.S. Court of Appeals for the Second Circuit unanimously affirmed this dismissal in December 2015. In 1961, the bank opened its first international location, becoming the first Arab financial institution to establish a presence in Switzerland. Arab Bank Group Financial Statements 2015 / (3465 KB) Arab Bank Group Annual Report 2015 / (2758 KB) Arab Bank Group Semiannual Report 2014 / (1096 KB) Arab Bank Group Annual Report 2014 / (2512 KB) Arab Bank Group Annual Report 2013 / (3180 KB) Arab Bank Group Semiannual Report 2012 / (601 KB) Arab Bank Group Annual Report 2012 / (3196 KB) In the 1940s and 1950s, the bank grew to 43 branches and had JOD 5.5 million capital. 0n��*�l�hh2�"�\L6��W�9ɕ{@5�|�K�|��+� �}� )gr�@^�!0�螻��pG�3�x�jy���eAz� �� �g�0'��.��3Hp{ �gEf�b��N��N�� o. * Information provided is for indication only. [25] In 2011, Arab Bank donated more than 177,000 Jordanian dinars to the Together Program. With seven investors and a startup capital of 15,000 Palestinian Pounds, Arab Bank was registered on May 21, 1930 and commenced its operations in Jerusalem on July 14 of the same year. Please ensure you type the Arab Bank account number carefully Arab Bank will not be held liable for any damage or loss of any nature resulting directly or indirectly from entering an incorrect or an invalid account number. The Group’s net operating income grew by 8% driven by growth in net interest and commission income. Please ensure you type the Arab Bank account number carefully. In the 1940s and 1950s, the bank grew to 43 branches and had JOD 5.5 million capital. As of 25 January 2012, Fitch still had Arab Bank ranked at an A-. �`0�G��p1�>?�@f�u�����!Y�_��8�d��s �sYt�a� � �n6\G� � �'�` ���c����"���E�Kh t8%�22=���@ D�����@���|��T O�6��` ��@��`�C�)0 ���) ���z [20], Since 2006, the bank has held a regulatory compliance summit with speakers from across the international banking community to discuss and learn more about the compliance environment. During the nationalization wave of the 1960s, Arab Bank lost a total of 25 branches. The financial statements of the subsidiary are prepared for the same reporting year as that of the Bank, using consistent accounting policies. Arab National Bank (ANB) is one of the most active financial institutions in the Saudi market. The organizational chart of Arab National Bank displays its 20 main executives including Robert Eid, Latifa Al-Sabhan and Aiedh Al-Zahrani × We use cookies to provide a better service. Arab Bank Egypt . Arab Bank’s extensive network covers key financial markets and centers such as London, Dubai, Singapore, Shanghai, Geneva, Paris, Frankfurt, Sydney and Bahrain. Wealth Management Service — Through Arab Bank’s subsidiaries, Elite gives you access to a wide choice of investment solutions backed with unparalleled world-class financial expertise. [13], Over the next few years, the bank opened branches in Frankfurt, London, Australia, New York and Singapore. [42], Office of the Comptroller of the Currency, "Arab Bank Investor Relations - Fact Sheet", "Arab Bank Group: Investor Relations Presentation", "Arab Bank terrorism case ends as U.S. court voids jury verdict", "The Arab Bank's place in Jordan and the Region", "Arab Bank to establish Europe Arab Bank in London", "Arab Bank signs for Vasco authentication technology", "Moody's takes downgrade actions on Arab Bank, Cairo Amman Bank and Housing Bank", "Announcement: Moody's reviews 14 banks in Jordan, Lebanon, Pakistan, Ukraine for downgrade", "Du tops list for transparency among Middle East companies", "Arab Bank sponsors a major international anti-money laundering conference", "Arab Bank Sponsors a Major International Anti-Money Laundering Conference", "Arab Bank addresses global compliance initiatives and challenges", "Arab Bank contributes to strengthening the compliance function within Jordan Banks", "Jury Will Put A Price on Terrorism – And Stick A Bank with the Bill", "Supreme Court Curbs Human-Rights Cases Against Corporations", "Swiss Mega-Bank UBS Sued by Victims of Terrorism", "Arab Bank Found Liable for Providing Assistance to Hamas", "Arab Bank Liable for Supporting Terrorist Efforts, Jury Finds", "Supreme Court says corporations can't be sued under centuries-old law for overseas human rights abuses", "Summary: Supreme Court Rules in Jesner v. Arab Bank", "In Re: Arab Bank, PLC Alien Tort Statute Litigation", "Supreme Court of the United States Opinion on Jesner v. Arab Bank", "Hamas financing case can proceed against Arab Bank: judge", "Arab Bank Wins Dismissal of Israel Terrorism Attack Suit", "Arab Bank's $24 Million Lesson: Your Clients' Clients are Yours, Too", "IDF clears Ramallah bank of terror involvement", https://en.wikipedia.org/w/index.php?title=Arab_Bank&oldid=1000455684, Articles containing potentially dated statements from 2018, All articles containing potentially dated statements, Creative Commons Attribution-ShareAlike License, Current and saving accounts, Personal loans, Overdraft facility, Home loans, Car loans, Credit cards, Term deposits, Funds transfer, Currency exchange, Investment opportunities, Commercial lending, Project and structured finance, Private banking, Asset management, Brokerage, Money markets, Foreign exchange, Capital markets, Commercial lending, Term financing, Project and structured finance, Corporate finance and capital markets. In 2006, Arab Bank was granted the green-light to establish Europe Arab Bank (EAB), a London-based, fully-owned subsidiary. Arab Petroleum Investments (APICORP) is a multilateral development bank established in 1975. Arab Bank has the following sister company, subsidiaries and affiliates companies: Arab Bank will not be held liable for any damage or loss of any nature resulting directly or indirectly from entering an incorrect or an invalid account number. Established in 1927, this subsidiary specializes in trust services and wealth management. The bank also acquired 50% of Turkland Bank in Turkey, and 50% of Al Nisr Al Arabi Insurance company in Jordan, thus … [8] By the 1990s, the bank added investment banking to its services. [28] In these cases, U.S. and non-U.S. plaintiffs alleged they or their family members were harmed by acts of terrorism that occurred in Israel or the West Bank/Gaza from 1995 to 2005. [19] The conference sought to unite the public and private sector in strengthening defenses against terrorist financing and money laundering in the MENA region. 1800333333 for Paltel , Jawwal and Ooredoo subscribers or 00970 2 295 3333 for international callers and other telecom companies subscribers Arab Petroleum Investments General Information Description. It is one of the only foundations created by a private sector company in Jordan. Although it closed branches in the Middle East, the bank continued to expand in other parts of the world. The financial statements of the subsidiary are prepared for the same reporting year as that of the Bank, using consistent accounting policies. Learn more. In 2011, Arab Bank committed approximately 87% of its annual budget for community investment through the foundation.