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Ammon News - The Association of Banks in Jordan Monday announced that banks in Jordan launched an initiative to support needy families through the Ministry of Social Development (MoSD) with JOD2 million.

Prime Minister Bisher Khasawneh said the banking sector is "one of the most important" sectors in Jordan for which the government provides the capabilities for sustainability and development.

He noted that the banking sector is a "main engine" to support the national economy and realise targets in documents related to Jordan's second centenary on growth and job opportunities.

The Prime Minister noted the banks' "central and important" in Jordan during the COVID-19 pandemic and its economic fallout that helped the state "overcome the crisis with the least damage."

Khasawneh added that the banking sector is an "essential" sector in Jordan, noting that it enables the sustainability of the "prudent" monetary policy that the Central Bank of Jordan (CBJ) has carried out.

He said addressing poverty and unemployment lies in enabling investments, praising the banks' initiative to establish an investment fund, noting that the government has worked to strengthen the legislative and administrative framework that regulates, enables and facilitates the investment process.

The Minister of Social Development, Wafaa Bani Mustafa, commended the banks' initiative to provide financial support of JOD2 million.