The wide range development experienced by the Jordanian banking sector in the seventies of the last century as well as the increasing of the number of its institutions and the variety of its activities has resulted in the need for the availability of a professional association which shall be joint by the licensed banks, the financial firms, specialized institutions and representative offices to assume the mission of coordination between the said institutions as well as to upraise the level of performance and banking service in addition to acting as the contact party between them and the monetary and financial authorities.

Hence, the Association has been established in November, 1978 and registered as an ordinary association pursuant to the provisions of the Associations & Social Commissions No. (33), 1966 and the amendments thereof. In fact, article (95) of the Banks Law No. (28), 2000 stated upon establishing an association to be cited as the Association of the Banks which prepared an articles of association for it that has been submitted to the concerned parties to be approved after which the Association would be established pursuant to the Banks Law.

However, the General Assembly of the Association, which is the higher authority in the same, is constituted of all the members which current number amounts to (23) members (banks). In fact, the General Assembly assumes laying down the general policy of the Association, planning and following up its programs and various activities in addition to electing its Board of Directors that is currently constituted of Messrs.

Goals of the Association:

The goals of the Association may be summarized as follows:

A. The cooperation with the concerned institutions in both of the private and public sectors in all that may serve the national economy and support it.

B. Looking after the interests of the Association and members as well as strengthening the basis of the cooperation held between them and coordinating their activities to attain their joint interests.

C. Dealing with the joint issues related to the various activities of the members and finding adequate solutions for the problems sustained by them.

D. Exchanging the information and experiences in all that may upraise the level of the banking business and serving the joint goals of the members.

E. To develop the performance methods of the banking services and updating them.

F. Seeking to standardize the banking expressions and forms as the same may be applicable.

G. Supporting the cooperation held with the Central Bank in order to execute the monetary and banking policy plans laid down by it and to submit the point of view related to the same upon necessity.

H. Seeking to establishing cooperative relations between the Association and the Arab and International banking commissions and associations.

I. Rendering consultant services to the members in the field of their business.

J. Seeking to settle the disputes that may incur between the members or between them and the others once an application in writing shall be submitted by the parties of the dispute to it.

In fact, the Association seeks to attain its goals through several means of which are mostly:

A. To conclude joint agreements whether in writing or in the form of an understanding to standardize the internal and external conditions of dealing whenever the same shall be applicable.

B. To issue periodical publications and prints that deal with the several banking activities.

C. To hold seminars and lectures concerned with the economic issues in general and the banking ones in particular.

D. To develop the abilities and efficiencies of the workers at the banking sector through the several possible means.

E. To establish the training institutes and centers as well as those for the banking studies.

F. To prepare the studies and researches related to the banking business and circulating the same among the members.

G. To submit the proposals aiming at developing the commercial legislations in general and banking legislations in particular.