The Cairo Amman Bank is a full-service

bank A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

Jordan Jordan, officially the Hashemite Kingdom of Jordan, is a country in the Southern Levant region of West Asia. Jordan is bordered by Syria to the north, Iraq to the east, Saudi Arabia to the south, and Israel and the occupied Palestinian ter ...

and

Palestine Palestine, officially the State of Palestine, is a country in West Asia. Recognized by International recognition of Palestine, 147 of the UN's 193 member states, it encompasses the Israeli-occupied West Bank, including East Jerusalem, and th ...

, with head office in

Amman Amman ( , ; , ) is the capital and the largest city of Jordan, and the country's economic, political, and cultural center. With a population of four million as of 2021, Amman is Jordan's primate city and is the largest city in the Levant ...

. The head office for the Palestinian territories is in

Ramallah Ramallah ( , ; ) is a Palestinians, Palestinian city in the central West Bank, that serves as the administrative capital of the State of Palestine. It is situated on the Judaean Mountains, north of Jerusalem, at an average elevation of abov ...

. The bank operates about 84

branches A branch, also called a ramus in botany, is a stem that grows off from another stem, or when structures like veins in leaves are divided into smaller veins. History and etymology In Old English, there are numerous words for branch, includi ...

and offices in Jordan and 21 in the Palestinian territories. CAB ranks sixth in Jordan and third in the Palestinian territories based on assets. It is also ranked third in the Palestinian territories based on the number of branches it has. The bank is a member of the Jonet ATM network in Jordan.

History

Cairo Amman Bank was established on 14 January 1960 as a Jordanian public shareholding company and began its banking services on 1 July 1960. At the time, Egypt's Banque du Caire converted its branch in

, Jordan, into a locally owned and registered company; Banque du Caire retained a minority position in the bank (12% in 1999), but has since withdrawn almost completely, with

Egypt Egypt ( , ), officially the Arab Republic of Egypt, is a country spanning the Northeast Africa, northeast corner of Africa and Western Asia, southwest corner of Asia via the Sinai Peninsula. It is bordered by the Mediterranean Sea to northe ...

Banque Misr Banque Misr () or in English the Bank of Egypt is an Egyptian bank co-founded by industrialist Joseph Aslan Cattaui Pasha, Joseph Cicurel and economist Talaat Harb Pasha in 1920. The government of the United Arab Republic nationalized the ban ...

taking over its stake in 2007. CAB's first branch was launched in the Palestinian territories in 1961. CAB returned to the Palestinian territories in 1986 with a branch. CAB was the first bank in the world to begin operating ATMs enabled with iris-recognition technology, which were first deployed in 2006. To date, the iris-recognition ATMs have facilitated over 1.2 million transactions worth $422 million. When the Syrian refugee crisis began, CAB's iris-recognition ATMs were adopted by the United Nations High Commissioner for Refugees (UNHCR) to disperse financial aid to refugees. CAB is the first bank in the world to introduce the iris print as a means of identification allowing customers to access their bank accounts and doing away with the ATM cards and the pass (secret) number. The system recognizes the customer and allows him to access his account and complete his banking transaction either at the service counter or at the ATM at the branches.

Profile

In order to increase its coverage in Jordan, CAB has established a presence in Jordanian post offices.

References

External links

Cairo Amman Bank - JordanCairo Amman Bank - Palestine

Cairo Amman Bank
Banks of Jordan Financial services in Palestine Banks established in 1960 Companies based in Amman Companies listed on the Amman Stock Exchange {{Palestine-stub