With the economy growing despite major headwinds, Adel Al-Sharkas, governor of the Central Bank of Jordan, outlines how he plans to keep the momentum going.
Global Finance: How is Jordan’s economy navigating global and regional turmoil?
Adel Al-Sharkas: Jordan’s economy has demonstrated resilience despite repeated waves of global and regional turbulence. Real GDP grew by 2.9% in 2023 and 2.5% in 2024 and is projected at 2.7% in 2025. These results are remarkable given high uncertainty, weak global demand, and disrupted trade routes, underscoring Jordan’s ability to sustain growth under challenging conditions.
This resilience is rooted in Jordan’s ability to transform external shocks into catalysts for reform and diversification. Guided by the Economic Modernization Vision 2023-2033, the country has advanced infrastructure projects, digital transformation, green energy, and human capital development. Jordan has completed 99 structural benchmarks across four IMF programs—including the ongoing EFF—reinforcing international confidence and macroeconomic stability. Export diversification, energy security, and strong international support have bolstered stability and growth prospects, positioning Jordan for sustainable, inclusive development.
GF: What measures has CBJ taken to foster growth and financial stability?
Al-Sharkas: The CBJ has played a key role in safeguarding the economy’s resilience in the face of repeated external shocks. We have done so by maintaining a robust monetary and financial framework, a credible exchange rate regime, strengthening the banking sector, and advancing structural reforms. To stimulate growth and reduce unemployment, the CBJ launched targeted financing programs at preferential rates to support vital sectors.
We also partnered with international and regional organizations, such as the World Bank and the Arab Fund for Economic and Social Development, to make affordable concessional loans available to banks and microfinance institutions supporting MSMEs. Enhancing MSMEs’ access to finance remains a cornerstone of the financial inclusion strategy. On the regulatory front, the CBJ enforces standards across the sector. Most importantly, a macroprudential policy framework is also in place to mitigate systemic risks and safeguard stability.
GF: How are Jordanian banks performing amid the current economic uncertainties?
Al-Sharkas: The Jordanian banking sector continues to show resilience, supported by strong financial and monetary fundamentals. Total assets grew by 5.6% year-over-year in June 2025, reaching JD 71.4 billion ($100.7 billion). Deposits reached JD 48.2 billion, while credit facilities rose by 3.9% to JD 35.5 billion. Financial soundness indicators remain solid. At the end of 2024, the capital adequacy ratio stood at 18%, well above Basel III requirements of 10.5%. Liquidity remained robust, with a ratio of 144.7% against the required 100%. Non-performing loans were contained at 5.6%, with a coverage ratio of 74.5%. Profitability also improved, with ROA at 1.1% and ROE at 9.1%.
GF: What are the main challenges you are facing?
Al-Sharkas: Monetary stability is our main goal despite external shocks. The CBJ aims to anchor economic resilience by preserving the Jordanian dinar’s peg to the USD, sustaining strong reserves and keeping inflation contained. Looking ahead, the CBJ is working to adapt to structural shifts with technological transformation, cybersecurity, climate risks, and sustainable finance as our main priorities.
GF: What role do you see for digital currencies and fintech in Jordan’s financial system?
Al-Sharkas: Fintech and digital currencies are becoming integral to financial systems worldwide. In Jordan, we see these technologies as an opportunity to enhance financial inclusion, improve access to financial services, and increase efficiency across banking and commercial operations. As we embrace digital transformation, the integration of Information and Communication Technologies (ICT) within financial institutions has heightened, leading to greater efficiency in delivering services. Amidst these transformations, the CBJ has formulated a vision: “Supporting economic growth, resilience, and prosperity for all Jordanians by establishing Jordan as a regional hub for fintech innovation, which enhances inclusion, improves efficiency, and strengthens customer experiences.”
