It is headquartered today in Amman, Jordan, and operates as a universal bank that serves clients in more than 600 branches spanning five continents.
According to its website in 2018, the bank was the highest-ranked by market capitalization, and represented approximately 25% of the Amman Stock Exchange.
[5] U.S. appellate courts have ruled in the bank's favor in several lawsuits filed in the 2000s alleging its involvement in facilitating the funding of terrorist organizations.
When customers who were obliged to leave the country asked for their deposits, Arab Bank fully redeemed all claims.
During the 1960s, the bank focused on investments and became a catalyst for Arab economic developments when most other financial institutions avoided the risk.
In 1961, the bank opened its first international location, becoming the first Arab financial institution to establish a presence in Switzerland.
[8] In 1974, after his father's death, Abd Al-Majeed Shoman was named Chairman and General Manager of Arab Bank.
Under his leadership, the Arab Bank reopened operations in Syria in 2005, and took steps to commence its activities in Iraq, circumstances permitting.
[23] The conference sought to unite the public and private sector in strengthening defenses against terrorist financing and money laundering in the MENA region.
[29] In 2011, the bank donated over 8 million Jordanian dinars to its Abd Al-Hameed Shoman Foundation to support scientific research and studies in the humanities in Jordan and the Middle East.
[29] In late 2009, Arab Bank launched 'Together', a corporate social responsibility program that links five non-profits dedicated to poverty alleviation, education, orphan support, health and environmental protection.
[33] In these cases, U.S. and non-U.S. plaintiffs alleged they or their family members were harmed by acts of terrorism that occurred in Israel or the West Bank/Gaza from 1995 to 2005.
[38] In 2013, the U.S. District Court for the Eastern District of New York dismissed Jesner v. Arab Bank, a case filed by 6,000 foreign citizens injured in Israel during the Second Intifada under the Alien Tort Statute (ATS),[39] ruling that corporations are not proper defendants in ATS suits.
[41] In April 2017, the Supreme Court of the United States granted the plaintiffs' petition to hear the case, Jesner v. Arab Bank, PLC.
[43] On 6 November 2012, a U.S. judge dismissed a civil litigation action brought by Israeli resident Mati Gill under the Anti-Terrorism Act for injuries he sustained in an alleged terrorist attack in Israel in 2008.
[44][45] In 2005, the U.S. Office of the Comptroller of the Currency and the Financial Crimes Enforcement Network assessed a $24 million penalty against the New York Branch of Arab Bank for failing to implement an adequate anti-money laundering program to manage the risks of money laundering and terrorist financing, and violating the suspicious activity reporting requirements of the Bank Secrecy Act.
[48] In 2019, over 1,132 Israeli victims of terrorism and families of Israelis murdered in terrorist attacks filed a $5.8 billion lawsuit against Arab Bank, claiming that the bank cooperated with, supported, assisted, funded, and encouraged terrorist actions that resulted in thousands of casualties and wounded.