In November 1985, a decree by the General Assembly of the Union of Arab Banks declared the birth of the “The Arab Institute for Banking Studies” in the coastal city of Larnaca, Cyprus, to be announced as an institution of the Joint Arab Action, affiliated with the Council of Arab Economic Unity of the League of Arab States. In a closed meeting with the presence of H.R.H King Hussein Bin Talal, it was announced that Amman, Jordan, will be the host city of the headquarter of the institution.
In 1988, Dr. Nasser Al Din Al-Asad, Jordan’s Minister of Higher Education back then, ratified the decree by giving permission for the beginning of the first school semester at the institution in accordance with decree No. 241 for year 1988.
In 1989, the board of trustees had their first meeting to discuss the details of the Academy strategy and plan of action. The meeting was presided by Prof. Mohamed Said Al-Nabulsi, the then Governor of the Central Bank of Jordan, and marked a realization of the institution’s mission.
“The Arab Institute for Banking Studies” was officially registered as Joint Arab entity, enjoying full diplomatic status, financial and administrative independence.
The Institute welcomed the first cohort of students and trainees under its roof, benefiting the high-caliber individuals and organizations from across the Arab world.
In June 1993, the board of trustees issued a decree to officially change the name of the institute from “the Arab Institute for Banking Studies” to “The Arab Institute for Financial and Banking Studies”. Also, a monthly newsletter was circulated for free in all banks and financial organizations across the Arab world to cover the activities of the Academy and that of its partners.
In June 1996, the decree of the host country was amended to officially refer to the institute as the Arab Academy for Banking and Financial Sciences.
In January 2000, H.H Queen Rania Al-Abdullah became the honorary chairperson of the Arab Academy.
The year witnessed the formation of the Higher Coordination Committee for the Joint Arab Action where the Academy was represented as an independent entity.
The Higher Coordination Committee for the Joint Arab Action held an extraordinary meeting, which featured the second meeting of the Joint Arab Action system for the support of the Iraqi people from 4-6 January. Held at the Academy’s campus in Jordan, the meeting was presided by Mr. Amr Mousa, the Secretary General of the Arab League at the time, and with the presence of all the Joint Arab Action entities, unions and organizations.
In January 2006, the main conference hall at the Arab League in Cairo hosted the graduation ceremony of the first cohort of students of the post graduate studies in Cairo. With more than 270 graduates, the event was attended by several members of the board of trustees and presided by Mr. Amr Moussa, the renowned diplomat and Secretary-General of the Arab League at the time, who granted the alumni their certificates.
In 2008, the Academy encompassed eight well-established branches for post-graduate studies across Amman, Cairo, Beirut, Tunis, Muscat, Kuwait, Sana’a, and Libya. Moreover, the academic programs (MBA and DBA) were accredited by the Supreme Council of Universities in Egypt; thus meeting international and regional standards.
In that year, the Council of Arab Economic Unity issued a decree that approves of the joining of the Arab Academy for Banking and Financial Sciences as one of the Arab Joint Action entities, while sustaining its full diplomatic status, financial and administrative independence.
In 2015, the AAMBFS headquarters moved to the metropolitan city of Cairo, in the heart of Egypt where the Arab world’s largest investment market and business industry is poised. Since its inception, the Academy has worked to benchmark its curriculum against those of the world’s highest-ranking academic institutions and business schools.
The board of trustees decided to expand the scope of the Academy’s work to include “management” sciences, thus the name was changed to The Arab Academy for Management, Banking and Financial Sciences (AAMBFS).
The Academic Council of the AAMBFS decided that the year 2019 is the “Year of Technology”. Thus, the AAMBFS’s new vision was renovated to reflect this newly adopted strategy of the digitalization of the Academy’s centers, services and courses. This aims to reposition the Academy as a brand name in the Arab region.
For more than 30 years now, the AAMBFS prides itself for graduating thousands of the Arab world’s brightest of minds, including bank directors, governors of central banks, thriving corporate CEOs and even ministers, who had made an impact on the local and regional business and investment sectors. Through the years, the Academy has endorsed multiple partnerships and exchange programs with the world’s top universities and training organizations, including: American Bankers Association, ABA- USA, American Institute of Banking, AIB- USA, International Institute of Auditors, IIA- USA, European Banking Training Network- Belgium, Eslsca Business School- France, International Finance Corporation (IFC)- USA, Financial Services Volunteer Corps (FSVC)- USA, Harvard Business School- USA, Market Match- USA, Supply Chain Management Institute, and European Business School- Germany.
Thus, the Academy upheld its role as a beacon of light guiding ambitious professionals in different fields of expertise, becoming a knowledge hub for all Arabs.
Historically, AAMBFS has an unrivalled record in setting precedents – in all its fields of specialization including its pioneering direction of providing academic services in a variety of fields. Over the years, the Academy upheld its role as a beacon of light guiding ambitious professionals in different fields of expertise, becoming a knowledge hub for all Arabs.
