Amman, May 6 (Petra) -- The Association of Banks in Jordan (ABJ) on Wednesday officially launched the "Guide for Developing Green Financial Products for Banks and Financial Institutions." This landmark initiative aims to accelerate the shift toward sustainable finance and develop banking tools that support the green economy in line with Jordan's national sustainability priorities.
The launch event was held in the presence of Minister of Environment Ayman Suleiman, Deputy Governor of the Central Bank of Jordan (CBJ) Ziad Ghanma, and representatives from the German Agency for International Cooperation (GIZ). The guide was developed in partnership with GIZ and supported by the German Federal Ministry for Economic Cooperation and Development (BMZ).
Minister Suleiman emphasized that transitioning to "Green" and "Blue" economies is no longer optional but a necessity driven by climate change. He noted that the government’s executive program for the Economic Modernization Vision (2026–2029) prioritizes sustainability and green growth.
"Governments alone do not hold all the tools for this transition; it requires a genuine partnership with the financial sector. Banks are now essential partners in directing investments toward green and blue activities," Suleiman stated.
He highlighted Jordan's progress, noting that 30% of the Kingdom's energy mix now comes from renewables, alongside a rapid shift toward electric and hybrid vehicles. He also pointed to international confidence in Jordan, evidenced by the selection of the Kingdom to host the regional office of the Green Climate Fund.
CBJ Deputy Governor Dr. Ziad Ghanma described the guide as a "sophisticated practical step" that translates strategic goals into executive tools. He argued that international experience shows a direct link between financial stability and the adoption of green finance practices.
Ghanma explained that the Economic Modernization Vision seeks a "proactive financial sector" that does not merely fund activities but directs capital toward high-value sectors and new growth engines, placing sustainability at the heart of the national economic model.
Maher Al-Mahrouq, Director General of the ABJ, explained that the guide serves as a practical "toolkit" to help banks move from abstract strategies to real-world application.
Key features of the new guide include, Methodology: A complete lifecycle for product development, from market analysis to design and launch; Standardization: Clear frameworks for identifying "green" activities according to national and international standards, which helps prevent "greenwashing;" Integration: Tools for analyzing credit portfolios and identifying sustainable opportunities while balancing profitability with environmental impact; Holistic Approach: Emphasizing that green finance is not a standalone product but a "smart evolution" of existing banking services.
Al-Mahrouq also announced the launch of the 4th Green Finance Forum (Green Forum 2026), scheduled for September 1, under the patronage of CBJ Governor Adel Sharkas, titled "Public-Private Green Dialogue: A Strategic Tool for Enhancing Sustainability." GIZ representative Baidar Al-Shalabi stressed that the banking sector is the primary engine for green transformation. He noted that investment decisions are no longer based solely on "risk and return" but must now account for Environmental, Social, and Governance (ESG) factors. He described the guide as a vital resource that helps banking teams turn the National Green Taxonomy into actionable credit and product design practices.
//Petra// AF
