BANKING

Housing Bank to distribute 35% cash dividendsApril 26, 2015

The Housing Bank announced in a press sattement on Saturday that it will be distributing dividends to shareholders at a rate of 35 per cent.

"Pretax profit last year amounted to a record JD162.1 million, an 8 per cent growth over the JD150.1 million posted in 2013," Chairman Michel Marto told the shareholders during an ordinary general assembly meeting.


"Net after-tax"...

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UPDATE 1-Loans, deposit growth underpin profit at Jordan's Arab BankApril 23, 2015

Arab Bank Group, Jordan's largest lender, posted a small rise in first-quarter net profit to $217.2 million on Wednesday, helped by a rise in loans and customer deposits.


The bank, one of the Middle East's major financial institutions with a $46.4 billion balance sheet, said in a statement loans and customer deposits grew by 6.3 and 4.4 percent"...

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$10m trade facility to Capital BankApril 20, 2015

The European Bank for Reconstruction and Development (EBRD) is boosting export and import activities in Jordan by providing a $10 million trade facility to Capital Bank Jordan (CB) under the EBRD’s Trade Facilitation Programme (TFP).

The TFP facility will enable CB to provide a wider range of trade finance products to its customers and to develop new products. The EBRD’s support will also allow CB to reach out to a broader"...

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'Purely economic': Jordan joins as founding member of China-led AIIB bankApril 20, 2015

Jordan and 56 other countries will be founding members of the China-led Asian Infrastructure Investment Bank (AIIB), according to a local official and the Chinese finance ministry.


A government official told The Jordan Times on Saturday that the decision to join the new bank is due to the Kingdom's belief in the need to support development projects in developing countries.


Jordan is one of 37 Asian countries and among seven Arab states to have joined the AIIB,"......

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EastNets holds seminar in AmmanApril 16, 2015

EastNets, a leading global provider of compliance and payments solutions for the financial services industry recently gathered top bank executives at the Marriott Hotel in Amman, Jordan for a seminar on the deployment ofthe Automated Clearing House (ACH) – an electronic funds-transfer system – and meeting the ACH regulations imposed by the Central Bank of Jordan.


During"...

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Jordan's sukuk market looking set for take-offMarch 31, 2015

The Islamic debt market in Jordan is set to capitalise on growing worldwide interest in sukuk (sharia-compliant bonds) after long-awaited regulations allowing banks to issue and buy the financial instrument have been put in place, paving the way for a sovereign issuance.

The kingdom already boasts a well-established Islamic banking sector, with the first such bank having opened in 1978.


"...

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Western banks axed 59,000 jobs in 2014March 31, 2015

Top European and U.S. banks axed 59,000 jobs last year as they restructured and cut costs, with headcount expected to shrink further in Europe as bosses strive to improve profitability that has been hit hard by tougher regulation.

Lenders have also sold or shut businesses to narrow their focus to avoid falling foul of regulators concerned that some have become too big and complex.

Analysts said that European banks, especially those"...

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Jordan Islamic Bank posts 2014 net profit of $63.6 millionMarch 28, 2015

Jordan Islamic Bank , a subsidiary of Bahrain-based Al Baraka Banking Corp , reported 2014 net profit of 45.1 million dinars ($63.6 million) on Thursday, the same level as the year-ago period.

Its assets had risen to 3.86 billion dinars by the end of December 2014, compared with 3.52 billion dinars at end of 2013, an increase of 9.4 percent.

The bank, the oldest of the four Islamic banks operating in Jordan and the largest in terms of assets, said in a statement the results showed robust growth in Islamic banking services.

"The"......

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