US Ambassador to the Kingdom Yael Lambert expressed her happiness to participate in this celebration on the occasion of Citibank’s 50th anniversary in Jordan.

She added that this occasion coincides with the 25th anniversary of His Majesty King Abdullah II’s assumption of his constitutional powers and the 75th anniversary of the establishment of diplomatic relations between the United States and Jordan.

She pointed out that Citibank has contributed since its work in Jordan in 1974 to support the implementation of many development projects.

She pointed out that the free trade agreement between the United States and Jordan, which was signed in 2001, contributed to providing about 85,000 job opportunities for Jordanians.

She said that Citibank has a volume of investments in Jordan amounting to about 100 million dollars, stressing that the United States is proud to have made important investments in Jordan during the past 75 years.

She stressed that the United States is determined to continue to work with par
tners in Jordan from the government and the private sector to promote economic growth despite the challenges posed by the crises in the region.

The Governor of the Central Bank of Jordan, Adel Shirkas, said: For fifty years, Citibank Jordan has proven to be one of the pillars of our banking sector, pioneering advanced financial products and services, including banking capital markets advisory, treasury services, commercial banking, and trade finance, which contributed to enhancing economic growth and improving the business environment in the Kingdom.

He pointed out that Citibank Jordan’s achievements are evidence of a strong, safe and stable banking environment in the Kingdom, characterized by healthy competition between banks and strong regulatory oversight, noting that the banking sector, which today includes 20 banks, 875 branches and 56 offices, contributes vitally to economic growth and the promotion of financial inclusion.

He stressed that confidence in the Jordanian banking sector and the national e
conomy is evidenced by the continued rise in foreign reserves at the Central Bank to record levels, which currently amount to approximately $20 billion, sufficient to cover 8.7 months of the Kingdom’s imports of goods and services, in addition to the decline in the dollarization rate to about 18%, compared to levels exceeding 20% ??before the repercussions of the Corona pandemic, and the decline in the inflation rate to reach 1.7% during the first seven months of 2024; which reflects the effectiveness of monetary policy in promoting a stable and favorable environment for economic growth.

Source: Jordan News Agency