ABJ to oversee banks' JD90m social responsibility initiative for health, education

AMMAN — The Association of Banks in Jordan (ABJ) announced on Sunday that its JD90 million social responsibility initiative, designed to support the health and education sectors, will be managed through a dedicated account at the Central Bank of Jordan (CBJ) under ABJ's supervision.

A special account, titled “Banking Association Initiative: Building Schools and Health Centers,” will be set up at the CBJ, where participating banks will directly deposit their contributions.

“The ABJ has been designated as the sole authorised entity to oversee and approve transactions related to the initiative,” said the ABJ in a statement sent to The Jordan Times.

In the first phase, the government will identify 18 schools in various governorates that are not included in the current year’s budget. These schools will be built using funds from the initiative to address critical educational infrastructure needs.

The ABJ emphasised that “this initiative underscores the banking sector’s commitment to corporate social responsibility and long-term national development.”

The association also noted that banks in Jordan are increasingly prioritising social impact initiatives, recognising that sustainable economic growth is closely linked to investments in vital sectors like education and healthcare.

“The ABJ has been designated as the sole authorised entity to oversee and sign off on transactions related to the initiative,” according to an ABJ statement sent to The Jordan Times.

Moreover, it noted that as part of the first phase, the government will identify 18 schools across various governorates that are not covered in the current year’s budget. “These schools will be constructed using funds from the initiative to address educational infrastructure needs.”

The ABJ emphasised that “this initiative reflects the banking sector’s commitment to corporate social responsibility and long-term national development,” 

The association also highlighted that banks in Jordan have increasingly prioritised social impact initiatives, recognising that long-term economic stability is closely tied to investment in essential services such as education and healthcare.