In October 1999, Khalid Shoman underwent major surgery for a lung transplant. As he was convalescing, he decided that the need had become urgent for the Arab Bank to adopt a strategic plan, and to create regional managements for some areas to improve their level of efficiency. It was as if his personal ordeal had re-enforced more than ever his determination to reform the Bank.

  
Khalid convalescing in Hurghada after his lung transplant operation
         
Amman, January 2001, attending the Annual Budget meetings
  In June of 2000, he commissioned seven senior executives of the Arab Bank to prepare the Strategic Plan. This task force, with the participation of 32 other staff members, embarked on an intensive research, studying, among other things, the Bank's competitive position in its major markets.

At the beginning of November 2000, the task force submitted the project of " The Strategic Plan for the Arab Bank: 2001-2006 " to Khalid Shoman, who approved it after a thorough review. The Plan delineated a "Vision" for the Arab Bank, whereby it would become the "Premier" financial institution to serve the Arab people. The Plan also established a "Mission" consisting of a group of strategic objectives that would guarantee the bank's leadership in its chosen markets in the next five years. The task force also defined the "Core Values" that would dominate the institution's ethos, and its moral and ethical framework.

On the 25th of January 2001, Khalid Shoman presented the Strategic Plan to the Board of Directors of the Arab Bank, who approved it and officially authorized him to implement it, just as they had previously approved and authorized him to implement the projects for the establishment of regional managements in certain areas.

 
       
February 2001, Cairo Conference for the Strategic Plan, Khalid with all the Executive Managers of the Arab Bank and Heads of sister institutions
 

Khalid Shoman launched the implementation of The Strategic Plan by convening a Conference in Cairo on the 17th of February 2001, where he submitted the Plan to all the Executive Managers of the Arab Bank worldwide, and to Heads of sister institutions.

He opened the deliberations of the Conference with a statement that addressed the nature of the present times and the essential need for change. He highlighted the services of the Shoman family to the Bank since its inception. He mentioned the role of his father, the founder, and his brother Abdul Majeed, the Chairman. The meeting then went into an open and thorough discussion regarding all aspects of the Strategic Plan.

All participants had the chance to debate and exchange ideas for two whole days.