Amman, Feb. 1 (Petra) -- Governor of the Central Bank of Jordan Adel Sharkas said the Central Bank successfully implemented all projects under the first executive program (2023–2025) of the Economic Modernization Vision, underscoring the strength of monetary and financial policy in supporting economic stability and growth.

Speaking at the 2026 Banking Summit, organized by the Association of Banks under the theme "Shaping the Future of Financial Innovation," Sharkas said the Central Bank will continue to advance digital transformation, cybersecurity, green finance, artificial intelligence, financial innovation, and future skills development in line with the objectives of the Vision’s second executive program (2026–2029). The summit was attended by senior banking and financial sector leaders, as well as local and international experts.

Sharkas said the global economy faced complex conditions in 2025, including shifts in trade policies, particularly tariff-related measures, alongside heightened regional and international geopolitical uncertainty. He said these factors continue to reshape the global economic landscape, requiring vigilance, flexibility, and close coordination among policies to enhance resilience and sustain development.

He said 2025 constituted a test of the Jordanian economy’s resilience and adaptability to external shocks, noting that economic growth reached 2.7 percent in the first quarter of 2025 and 2.8 percent in both the second and third quarters, following growth of 2.6 percent in 2024. He attributed this performance to the government’s commitment to comprehensive reforms and the positive performance of several economic indicators, particularly in the external sector.

Sharkas said monetary policy achieved its objectives of maintaining monetary and financial stability while supporting balanced economic growth. He noted that foreign reserves rose to $28.5 billion at the end of January, sufficient to cover more than 10 months of imports of goods and services, while the dollarization rate declined to 17.6 percent by the end of 2025.

He added that inflation in 2025 remained below 2 percent, in line with Central Bank estimates, with expectations of stabilizing around this level in 2026, helping preserve purchasing power and strengthen the investment and planning environment.

Sharkas commended the banking sector’s adherence to sound governance, institutional discipline, and prudent risk management, noting that banks maintained profitability and stability despite geopolitical uncertainty, market volatility, and rapid financial innovation. He said this was reflected in 2025 financial results and the sector’s continued role as a key financing channel for economic activity.

He said bank assets grew by 6 percent at the end of 2025 to reach JD74.1 billion, while deposits increased by about 7.1 percent to JD50 billion. Credit facilities also expanded by 3.7 percent to JD36.1 billion.

Sharkas highlighted progress in digital banking, noting that about 84 percent of banking services are now conducted electronically, supported by the Central Bank’s digital infrastructure. He added that the value of transactions processed through national payment systems, including eFawateercom, Cliq, and JoMoPay, exceeded JD42 billion in 2025. He said the Central Bank launched a regulatory framework for the use of artificial intelligence in the banking sector last July to guide the responsible adoption of AI technologies.

For his part, Association of Banks Chairperson Basem Salem said the summit is being held amid rising global risks, slower growth in some major economies, and emerging opportunities in digital transformation, artificial intelligence, and sustainable finance. He said discussions focus on global economic prospects, macroeconomic and sectoral risks, the future of banking amid technological change, and the role of sustainable finance in supporting growth in Jordan and the region.

He said the Jordanian economy has demonstrated resilience in recent years through prudent monetary and fiscal policies, gradual structural reforms, and effective public-private partnerships, with the banking sector continuing to play a central role in financing productive sectors, supporting small and medium-sized enterprises, and promoting financial inclusion.

Salem added that international reports and credit rating assessments confirm the strength and stability of the Jordanian banking system and its capacity to withstand shocks, citing strong regulatory frameworks, adequate capitalization, and robust risk management.

The summit featured several panel discussions, including sessions on the global economic outlook, the Middle East and North Africa economic outlook, and the future of banking amid artificial intelligence and emerging technologies.

Participants discussed global and regional economic prospects, their implications for national economies, and the trajectory of the banking sector in light of accelerating digital transformation.

//Petra// AJ

01/02/2026 15:15:09