AMMAN — Jordan has recorded "marked" progress in expanding access to financial services, according to the Global Financial Inclusion Index 2025 issued by the World Bank, with 62 per cent of adults hold a bank account or electronic wallet in 2024.

 

The figure represents a steady increase from 47 per cent in 2021 and just 25 per cent in 2011, underscoring "significant" strides made over the past decade, according to Al Mamlaka TV.

 

The report highlights the "pivotal" role of digital technology in driving this transformation. Mobile phone penetration among adults has reached 92 per cent, while 84 per cent use the internet regularly.

 

This widespread digital access has translated into changing financial behaviour, with 54 per cent of Jordanians sending or receiving digital payments in 2024.

 

Government transfers have also become increasingly digitised. Some 15 per cent of adults receive payments from the government, including salaries and social assistance, and 75 per cent of these payments are deposited directly into bank accounts or electronic wallets.

 

Despite the gains, a gender gap persists. The report indicates that 68 per cent of men hold financial accounts, compared with 56 per cent of women, a 12-percentage-point difference.

 

Formal saving and borrowing remain relatively modest. Only 11 per cent of adults reported saving money through formal financial institutions, while 16 per cent said they had borrowed from banks or other regulated financial entities.

 

Meanwhile, 44 per cent of Jordanians said they would be able to raise emergency funds within 30 days without significant difficulty, suggesting a degree of financial resilience among a sizeable segment of the population.

 

Among the 38 per cent of adults who remain unbanked, the leading reason cited was insufficient funds (77 per cent). A further 26 per cent said they rely on a family member’s account, while 24 per cent pointed to the high cost of financial services as a barrier, Al Mamlaka reported.