Cairo Amman Bank

Cairo Amman Bank Co PLC (CAB) is a pioneer in Jordan's financial markets, with a vision of "Serving Society and Empowering the Future", with a strong track record in retail banking, SME financing, microfinance and digital finance. Founded in Amman on January 14, 1960, it was reorganized from the branch of Banque du Caire in Jordan into a Jordanian public limited liability company, headquartered at 11th August Street (P.O.) in the Shmesani area of Amman, Jordan. Box 926225, Amman 11190）。 As a listed company on the Jordan Stock Exchange, CAB serves approximately 1 million customers and is the sixth largest bank in Jordan thanks to its 64-year heritage and innovative capabilities.

basic bank information

CAB is a commercial bank, privately owned, established on January 14, 1960 and headquartered in Amman, Jordan. The bank was restructured from a branch of the Bank of Cairo in Egypt and was initially initiated by the Jordanian government and private investors, with the Bank of Cairo holding a minority stake (12% in 1999) and taking over its stake by Banque Misr of Egypt in 2007. Major shareholders include institutional investors (e.g. Jordanian Investment Fund) and public shareholders, and the holding structure operates as an independent company. CAB is strictly regulated by the Central Bank of Jordan and is required to comply with the Jordanian Banking Act and international financial standards to ensure transparency in operations and the safety of client funds. Its deposits are protected by the Jordan Deposit Insurance Corporation, with a maximum coverage of Jordanian dinars (about $1.41 million) per depositor. The SWIFT code of the bank is CAABJOAM and the registration number is 111001. CAB has 84 branches in Jordan, 21 regional offices in Palestine (headquartered in Ramallah) and 1 branch in Bahrain, with a total of approximately 2,500 employees in 2024.

deposit and loan products

CAB provides a variety of deposit products to meet the savings needs of individual and corporate customers:

• Demand Deposits: Including checking accounts and savings accounts, such as "Classic Current Account" and "Thuraya Savings Account", with a minimum opening amount of 0 Jordanian dinars and a base annualized rate of return (APY) of about 0.5%-1.0%, the latest interest rate needs to be confirmed through branch or online banking. The Thuraya account provides high-end customers with priority services and bonus points, flexible deposits and withdrawals, no monthly fees, and is suitable for day-to-day money management.

• Fixed Deposits: Support multiple currencies such as Jordanian dinar, US dollar, euro, etc., with deposit terms ranging from 1 month to 5 years, and the minimum deposit amount is 500 Jordanian dinars. In 2025, the fixed deposit interest rate will change depending on the maturity, e.g. 2.0% for 1 month, 2.5% for 3 months, 3.0% for 6 months, 4.0% for 12 months, and 5.0% for 2-5 years. Invest in low-risk assets (e.g. government bonds, real estate).

• Featured Products:

  • High Yield Savings Accounts: such as "Thuraya Savings Account", which offers up to 4.0% APR on a balance of more than JOD 5,000, combined with point rewards and sweepstakes (e.g. cash or travel rewards), No monthly fees.

  • Large Certificates of Deposit (CD): Support flexible tenors, suitable for large amount of money customers, the interest rate needs to be queried through the branch or app, and the early withdrawal penalty is 90 to 180 days of interest.
    Customers can check the preferential interest rate through the "CAB Mobile" app or online banking, and the deposit products can be opened and calculated instantly, and some accounts can be free of transaction fees. CAB is a member of Jordan's Jonet ATM network, and customers can easily deposit and withdraw money through 209 ATMs.

Loan

CAB provides a comprehensive range of loan products to meet diversified financing needs

• Mortgages: Fixed-rate and variable-rate mortgages are available for up to 80% of the value of the property and are repaid over a period of up to 20 years. In 2025, the fixed interest rate will be about 7%-10% (based on the benchmark interest rate of the Central Bank of Jordan, about 6.0%), and green mortgage discounts (energy-efficient properties) will be provided, and the application will require a credit score of 700 or more and an annual income of more than 5,000 Jordanian dinars.

• Car Loan: Support new and used car financing, with a loan amount of up to 50,000 Jordanian dinars, a term of up to 5 years, an annualized interest rate (APR) of about 7%-12%, and a credit score of 660 or more.

• Personal Line of Credit: The loan amount ranges from JODR 1,000 to JOD 50,000, the term is 1 to 5 years, the annualized interest rate (APR) is about 8%-15%, the application threshold is an annual income of more than JWD 3,000 and a good credit history, and the customer needs to be at least 21 years old.

• Flexible repayment options: Mortgages and personal loans offer no penalty for early repayment, monthly or bi-weekly payment plans, and a revolving line of credit for flexible debt management.
  All loans are subject to bank approval, and customers are required to provide credit history, proof of income and asset information, subject to the terms of the loan agreement. Banks' corporate lending services (e.g., letters of credit, bill discounting) provide additional support to SMEs and large enterprises, with SME loan balances increasing by 12% in 2023.

digital service experience

CAB's mobile banking app, "CAB Mobile", is the core of its digital services and is available for download on iOS 14.0 and above, Android 9.0 and above, with an App Store rating of about 4.8 and a Google Play rating of about 4.7, with users praising its quick launch (in less than 2 seconds), intuitive interface and multi-language support (Arabic, English). Core features include:

• Face recognition: support for biometric authentication (such as Face ID and Touch ID), combined with 256-bit end-to-end encryption to ensure transaction security.

• Iris recognition: CAB is the first bank in the world to introduce iris recognition ATMs, which allow customers to access their accounts through iris scanning without a card or password, improving security and convenience.

• Real-time transfers: Instant transfers in Jordanian dinars are supported through the Jordanian electronic payment system eFAWATEERcom, with a daily limit of up to 100,000 Jordanian dinars, international remittances to more than 100 countries, and low-rate transfers are provided in cooperation with Western Union.

• Bill management: Support online bill pay, automatic debit, and e-statement, classify transactions in real time, and allow up to five bills to be paid at a time.

• Investment Tool Integration: Support stocks, funds, bonds, and Sukuk trading through an investment platform that provides real-time market data and investment advisory services.
  The online banking platform "CAB Online" supports multiple browsers and provides similar functions, allowing customers to open an account in 5 minutes through the app or official website. The app supports accessibility features such as dynamic font adjustment and VoiceOver compatibility for visually impaired and hearing-impaired customers. In 2023, about 60% of customers completed transactions through digital platforms, significantly improving the user experience. CAB's AI chatbot "Labeeb" provides 24/7 customer support, handling account inquiries and trading requests.

technology innovationCAB

excels in the fintech space, driving digital transformation through its IT division:

• AI customer service: Introducing an AI-powered chatbot "Labeeb" to analyze transaction behavior and detect fraud risks in real-time, automating 80% of customer inquiries by 2023, and planning to launch a virtual assistant in 2025 to support 24/7 inquiries and personalized financial advice.

• Iris recognition technology: CAB is the first bank in the world to introduce iris recognition ATM, which allows customers to complete identity verification through iris scanning, replacing traditional cards and passwords, improving security and customer experience.

• Open Banking API Support: Follows the Central Bank of Jordan's Open Banking Framework, integrates with third-party service providers to provide account management and financial services interoperability, and supports 35 deposit, credit card, and loan service APIs by 2024.

• eFAWATEERcom Payment: Supports instant bill payment through the Jordanian electronic bill payment system, covering services such as water, electricity, and telecommunications, with a 15% increase in transaction volume in 2023.

• Other innovations: support for Apple Pay, Google Pay and local payment systems, and simplified mobile check deposits; In 2024, it will invest 50 million Jordanian dinars to upgrade cloud technology and data analysis platforms, and cooperate with AWS to optimize trading systems and improve operational efficiency.

Featured Services & DifferentiationCAB

is known for its financial inclusion and innovative digital services:

SME support: Customized loans and cash management services through CAB Business Banking, participation in the Jordanian government's SME Financing Guarantee Program, loan approval in as fast as 10 seconds, up to JOD 1 million, and a 12% increase in SME loan balance in 2023.

• Microfinance: Serving rural communities in Jordan and Palestine to support small businesses and self-employed individuals, with microfinance loan balances accounting for 25% of the loan portfolio in 2023, reaching thousands of women through IFC-supported women's entrepreneurship programs.

• Green Finance: Invested in energy-efficient buildings and renewable energy projects, with a total of 50 million Jordanian dinars in green financing in 2023, in response to the United Nations Principles for Responsible Banking, and won the "Jordan Green Finance Pioneer Award".

• Community Welfare: Support education and charity projects through the CAB Foundation, such as sponsoring Ramadan activities in orphanages, donating 10 million Jordanian dinars for community development in 2023, holding financial literacy lectures, and improving the financial literacy skills of young people.

• Iris Recognition ATM: The world's first iris recognition technology, covering 209 ATMs, significantly improves customer safety and convenience, and attracts young and high-net-worth customers.

market position and honors

CAB is the sixth largest bank in Jordan, with total assets of about 3.5 billion Jordanian dinars (about $5 billion) in 2024, ranking high among the 38 banks in Jordan. With 84 Jordanian branches, 21 Palestinian offices and 1 Bahrain branch, the Bank serves approximately 1 million customers (including 800,000 individual customers and 200,000 corporate customers), and has a strong position in retail banking, SME finance and microfinance. In 2023, the bank reported an 8% increase in deposit balances, a 6% increase in loan balances, and a non-performing loan ratio remaining below 0.2%, indicating that it is operating soundly. CAB's innovations in digital services and green finance enable it to remain competitive in regional markets. Its international operations account for 10% of total revenue through its Palestine and Bahrain branches. Key accolades include:

• 2023 "Best Bank for Customer Service in Jordan" award.

• 2022 Jordan Green Finance Pioneer Award.

• 2021 "Best SME Bank in Jordan" award.
  CAB's financial inclusion and innovation capabilities make it the backbone of Jordan's financial market.

Cairo Amman Bank Limited is a pioneer in Jordan's financial market with its 64-year heritage, inclusive services and innovative financial products in Jordan and Palestine. It offers a diverse range of deposit and loan products to meet customer needs through 84 branches and advanced digital platforms. With the "CAB Mobile" app at its core, the digital service provides the world's first iris recognition, real-time transfer and investment management functions. Technological innovations, including the AI chatbot Labeeb, open banking APIs, and eFAWATEERcom payments, demonstrate its forward-looking approach to digital transformation. With its SME support, microfinance, green finance, community philanthropy and a number of industry accolades, CAB continues to demonstrate strong competitiveness and influence in the Jordanian and regional financial markets.

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