USAID and the Association of Banks conduct a workshop entitled 'Outsourcing in the Banking Sector in Jordan'

The workshop was conducted by three senior Deloitte Consulting LLP specialists and attended by upper management officials of Jordanian banks.

World financial service businesses are increasingly using third parties to carry out activities that businesses themselves would normally undertake. However, outsourcing arrangements are proving to become increasingly complex due to risk factors, management and third parties compliance, particularly those that may not be regulated in the first instance and operate off-shore. The workshop came to draw a framework of how to outsource non core activities whilst still maintain control over bank operations and carry regulatory responsibilities.

USAID Jordan Economic Development Program (SABEQ) has been a dynamic partner in supporting outsourcing activities in Jordan as of the onset of the Program. Realizing the relative maturity of the sector and its readiness to produce jobs and immediate results has placed outsourcing and shared services as a priority area on the SABEQ Program's agenda. Marrying between outsourcing and the banking industry in Jordan will increase growth and promote the goal of offering financial outsourcing services in the region.

The session gave an overview of service delivery marketplace including outsourcing and shared service centers, and introduced global trends in BPO and shared services, off-shoring and global service delivery in the financial services industry. Participants drew a typical banking outsourcing roadmap for Jordan as well as identifying an outsourcing lifecycle approach and methodology.

The ABJ is a professional association whose members are all licensed banks operating in the Kingdom. Gaining its legal status from a provision in the Banks Law, ABJ works to enhance coordination amongst its members, develops and modernizes methods for banking services, and deepens awareness of banking processes, systems and procedures. ABJ is a member of the Union of Arab Banks.

The USAID Jordan Economic Development Program (SABEQ) is a five year broad economic development initiative implemented by Deloitte Consulting LLP and a sizeable team of international and Jordanian partner firms. By supporting improvements in the business environments and providing assistance to expand innovation and productivity in Jordanian businesses, it supports the main objective of building up the private sector as a powerful engine of economic growth.