Egyptian Arab Land Bank Celebrates 130 years Serving the Arab Economy

Published February 22nd, 2010 - 09:41 GMT

The Egyptian Arab Land Bank, one of the largest Egyptian commercial banks and one of the oldest banks operating in Jordan, celebrated its 130 year anniversary at a special event held at the Four Seasons Hotel on Wednesday February 17th.

The celebration event, which highlighted the bank’s 130 years of commitment to serving the Arab economy, was attended by His Excellency Amro Abu Alata, Egyptian Ambassador to Jordan, His Excellency Umayya Toukan, Chairman of the Central Bank of Jordan, as well as numerous banking and media representatives.

Prominent Egyptian actor, Hisham Abdel Hamid presented a welcoming speech, which was then followed by keynote speaker Mr. Muhammad Fathi Al Siba’i, Chairman of the Board of the Egyptian Arab Land Bank.

Mr. Al Siba’i gave a brief background on the history of the bank by saying, “Owned by the Egyptian Government and represented by the Ministry of Finance, the Egyptian Arab Land Bank was established in 1880 to contribute to the advancement and development of the Egyptian economy. The bank quickly become the largest specialized banking entity in Egypt, and in 1951 opened several branches in Jordan to provide businesses and individuals with a comprehensive range of retail and commercial banking services and products.”

Al Siba’i went on to say, “Since the bank was first established our objective was to go above and beyond contributing to the Egyptian agricultural sector. We now offer our community the most comprehensive and modern banking services such as savings accounts, deposit boxes as well as competitive personal, car and housing loans. We also offer services in personal and corporate investment banking, private banking, online and mobile banking, in addition to Social Security Corporation subscriptions and banking services for the Jordanian Armed Forces.”


The chairman highlighted the significant role played by the Central Bank of Jordan in transforming the Egyptian Arab Land Bank from a bank of many losses to a bank of hopeful successes. This came as part of an agreement that was signed between both parties in 2003 to completely restructure the bank by executing administrative and financial reform.

Al Siba’i stated, “Despite the challenges that we have faced, the bank has a lot to be proud of. We overcame many hurdles and that is thanks to the dedication, loyalty and hard work of every single individual at the bank. Today, the Bank’s assets value at approximately 14 billion Egyptian Pounds ($2.6 billion), and as for our presence across the Arab world, we have 27 branches in Egypt, 13 in Jordan and 6 Palestine. We have also raised our capital by 50% which is a remarkable achievement.”

The Chairman stressed that the bank makes every effort at being part of the community by continually being a socially responsible company, and that the solid relationship it has established with its staff members has played a major role in the bank’s success. 

To conclude his speech, the Chairman honored the esteemed guests which included H.E. the Egyptian Ambassador, H.E. the Chairman of the Central Bank and actor Abdel Hamid. The guests enjoyed a lavish dinner and a live performance by well known Jordanian singer Zain Awad. TV presenter Dama Al Kurdi was the Master of Ceremony.


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