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The Ordinary General Assembly of the shareholders of the Arab Bank held its meeting by means of video communication, chaired by Sabih Al-Masry, Chairman of the Board of Directors, and in the presence of the members of the Board of Directors, the Executive General Manager, and shareholders holding “Asala, Deputation and Agency” shares, which constitute about 77.97% of the capital. The meeting was also attended by the General Controller of Companies, Dr. Wael. Armouti and delegates of the Central Bank of Jordan
During its meeting, the General Assembly approved the recommendation of the Board of Directors of the Arab Bank to distribute cash dividends to shareholders at a rate of 25% for the year 2022, in addition to its approval of the items on its agenda.
On this occasion, Al-Masry pointed out, saying: “The year 2022 witnessed many challenges in the world, as the growth of the global economy declined significantly with the intensification of the global inflation wave, reaching levels unprecedented in four decades in developed countries and many other countries, which prompted central banks to The main objective is to raise interest rates at a rapid pace and tighten its monetary policies to ease aggregate demand and contain the impact of inflation. Geopolitical risks also exacerbated during the year 2022 with the outbreak and continuation of the conflict in Ukraine and its various repercussions, including the rise in energy and food prices and the reluctance to invest, especially in developing countries, which also contributed to the decline in global growth.
He added, “With the end of 2022, some signs of improvement and limiting the slowdown in the global economy began to appear, especially in conjunction with the reopening of economic activities in China and the decline in energy prices, in addition to the beginning of low inflation rates, which prompted central banks to reduce the rate of interest rate hikes.”
