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Jordan Ahli Bank Continues to Deliver Exceptional Services to Clients Amidst Pandemic

Amman, Jordan - Despite the challenges posed by the COVID-19 pandemic, Jordan Ahli Bank has continued to provide exceptional financial and non-financial services to its clients throughout 2021. The bank’s efforts have been instrumental in supporting businesses and individuals affected by the pandemic.

Lending Facilities and Rate Reductions

Jordan Ahli Bank implemented a range of measures to support its clients, including:

  • Reducing lending rates based on Central Bank of Jordan (CBJ) directions
  • Postponing payments for impacted clients, providing much-needed relief during difficult times

The bank’s “Ahli Izwati” program was also supported by CBJ and Jordan Loan Guarantee Corporation (JLGC), offering liquidity to cover different financing needs with competitive prices. This program has been instrumental in helping businesses access funding during the pandemic.

Electronic Services and Partnerships

The bank has continued to invest in its electronic services, providing clients with:

  • Convenient options for transactions such as salary payments, transfers, cheques, and point-of-sale programs
  • Partnerships with key strategic partners, including CBJ, JLGC, and the European Bank for Reconstruction and Development (EBRD), to provide subsidized loans and special bundles with preferential interest rates and flexible terms

Consumer Banking

Jordan Ahli Bank’s Consumer Banking business unit has been focused on:

  • Restructuring branches to improve operational efficiency and reduce costs
  • Establishing new strategic partnerships to provide flexible and competitive products to meet the needs of all segments of society

Treasury, Investments, and Financial Institutions

The bank’s Treasury, Investments, and Financial Institutions Department has implemented a conservative strategy, including:

  • Hedging at a high level in response to market uncertainty
  • Increasing its government bond portfolio and working on increasing liquidity through risk-free vehicles

Wealth Management Services

Jordan Ahli Bank launched its Wealth Management services in 2021, integrating various investment tools and products provided by the department in developed and emerging countries. This initiative has helped expand the client base and attract new accounts, increasing out-of-budget item revenues.

Credit Sector

The bank’s Credit Review Department has been focused on:

  • Studying and reviewing credit applications from business departments to identify customers’ financial capabilities towards servicing their debt
  • Taking necessary actions to mitigate potential risks posed by the pandemic

The Credit Execution Department has continued to process documentation and activation in compliance with legal and administrative requirements, while the Credit Remedial Department has managed defaults and restructuring to become active or taking necessary measures and solutions.

Conclusion

Jordan Ahli Bank’s commitment to providing exceptional financial and non-financial services to its clients has been instrumental in supporting businesses and individuals affected by the pandemic. The bank’s efforts have demonstrated its ability to adapt to challenging circumstances while maintaining its focus on delivering high-quality services to its customers.