15 Jun, 2010

Arab Bank Receives Best Bank in Jordan for the year 2010

The Shoman family, founders of Arab Bank, was recognized by pre-eminent international finance magazine, Euromoney, for their outstanding contribution to financial services in the Middle East during the Euromoney Awards for Excellence 2010 Dinner that was held in Beirut on Wednesday, June 9, 2010.

The ceremony was attended by leading international bankers, media representatives and members of the awards jury, which comprised elite experts and consultants.

Euromoney praised the Shoman family for their contributions to the financial services industry, noting that Arab Bank, as the first private financial institution in the Middle East, has been one of the Arab world’s greatest success stories. Since its establishment in 1930 and under the leadership of the late Abdul Hameed Shoman, the late Abdul Majeed Shoman and with the current Executive Chairman, Abdel Hamid Shoman, Arab Bank continued to grow, perform and innovate to become a leading global bank.

Receiving the award on behalf of the Shoman family was Mr. Abdel Hamid Shoman, Executive Chairman of Arab Bank, who said, “I would like to dedicate this award to my late grandfather, Abdul Hameed Shoman, my late father, Abdul Majeed Shoman, my children who are also working at the bank, our loyal customers and shareholders and most importantly, the greater Arab Bank family, our employees, without whom the Bank would not have reached the position it is in today.”

Arab Bank also received “Best Bank in Jordan 2010” award during the same ceremony.

Regarded as the benchmark awards for financial services globally, the Euromoney Awards for Excellence are now in their 19th consecutive year. This year’s awards process attracted over 600 submissions from the world’s leading banks and brokerage houses competing for the awards. Euromoney’s research team and awards panel then rated all the submissions on both quantitative and qualitative factors such as KPI’s, financial ratios and innovation over the 12 month period to decide the award winners.