Celebrating Youth by Feeding Them Knowledge (International Youth Day, August 12)

12 Aug, 2009

Arab Bank is commemorating International Youth Day (August 12), by celebrating young people (ages 16-25) and their importance to the community. This is one of many Arab Bank initiatives to support the youth in our community. With 45% of employees at the Arab Bank under the age of 30, and with Jordan’s median age of 25 it is essential to invest in this demographic. Initiatives taken by the Bank include, a checking account specifically tailored to young people (Shabab), training programs for young employees and activities to promote education to the general public:

Dr. Sulayman Al Qudsi, Chief Economist of the Arab Bank took the stage at the Abdul Hameed Shoman Foundation on Saturday, August 1 2009 to give a presentation about the causes and effects of the global financial and economic crisis and impact on Jordan. This was one of three similar lectures that Dr. Al Qudsi gave in Irbid and Tafeleh.

These young men and women came from the Al-Aman Fund, orphans beginning their academic pursuits and in search of guidance and opportunities. Al-Aman Fund equips orphaned youth, who graduated from orphan care centers at the age of 18, with the education and skills necessary to become successful, self reliant and productive members of society. They were in attendance at this Arab Bank sponsored event to explore the world economy and its struggles over the past year. Dr. Al Qudsi‘s interactive presentation included a background introduction to economic terms such as GDP, real and financial sectors of the economy, the roles of financial institutions and relationships within markets.

Dr. Al Qudsi discussed various topics including the collapse of the US housing \real estate sector, the subprime market in August 2007, excessive lending and leverage, technological progress and financial innovations, regulation policies, the state of the US economy during the Alan Greenspan era and off-balance sheets. After discussing all these subjects, Dr. Al Qudsi put in perspective their impact on Jordan.

Chairman and CEO, Abdel Hamid Shoman says, “With approximately half of the Jordanian population under the age of 25, it is important we support, develop, teach and focus on youth, for they are the future.” Dr. Al Qudsi also commented, “By educating today’s youth, we can insure that in the future they are aware of how the economies shift and the dynamics behind economic cycles.” Dr. Al Qudsi added on the youth’s participation, “I could tell the audience was eager to learn, they had as many questions as comments during the presentation.”

Ismaeel Ahmad Mousa, 20, a member of the audience said at the end of the presentation, “It was great to find out about the derivatives market and other financial markets that have such a great effect on the world economy.” Noor Malah, 19, another audience member said, “It was a very informative lecture, overall I think I learned a lot today.”

This effort is another corporate social responsibility activity from the Arab Bank. The mission of Abdul Hameed Shoman Foundation is to support and enhance scientific research and Arab humanistic creativity, build bridges of dialogue and cultural communication, and collect and disseminate general knowledge by all feasible means.