CBJ governor highlights economic recovery, strong banking system at summit

(File photo: Jordan News)
AMMAN Jordan's Central Bank Governor, Adel Sharkas, stated that the Jordanian economy is progressing towards recovery. اضافة اعلان

Speaking at the "Jordanian Banking Summit 2023", hosted by the Association of Banks in Jordan and attended by banking leaders in the country, Sharkas highlighted the ongoing economic reforms at various levels that have enabled the Jordanian economy to demonstrate high efficiency and flexibility in meeting local and regional challenges.

Sharkas praised the strength of the Jordanian banking system and its active role in the national economy, operating according to the highest levels of governance and sound management.

This, he said, has made its performance effective and positively high in the national economy.

Summit sessionsThe summit, which aimed to facilitate dialogue and strengthen relationships between banks and banking leaders, was organized by the Association of Banks in Jordan. During the summit, the first session discussed the economic prospects of the Middle East and North Africa region, presented by international economic expert and resident representative of the International Monetary Fund in Jordan, Kareem Ismail.

Ismail explained that Jordan has a moderate margin for borrowing from international markets, with a high ability to access international financial markets and foreign financing sources with interest rates lower than many countries in the region. He also noted the high coverage rates, reflecting the investors' confidence in the stability of the Jordanian economy in the medium and long term, especially with a clear vision for the path of the Jordanian economy for the next ten years.

The second session addressed the main trends affecting regional and global banking systems, and the prospects of the Jordanian banking sector, discussed by the vice president and senior analyst of the Moody's Investors Service, Christos Theofilou.

The third session included a presentation on the economic model by Nidal Al-Azam, the executive director of Research at the Central Bank of Jordan. Al-Azam discussed the most important local and global economic and monetary indicators and their expected prospects in 2023 and 2024, including economic growth rates, inflation rates, and global and local interest rate trends.

The summit concluded with a speech by Sharkas, in which he discussed the most important local, financial, and monetary indicators, and the monetary policy and banking sector trends in Jordan in 2023.

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