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Jordan will benefit from the financial stability that Gulf Cooperation Council countries enjoy as cash will flow to push its sustainable economic growth in 2014 and 2015, according to the World Bank.
In its latest report issued on regional economic developments, the Bank said that the Gulf countries pledged to provide $21.5 billion for Arab states going through a transition phase due to the repercussions of the Arab Spring, more than half"...
Bank Muscat, the flagship financial services provider in the Sultanate of Oman, and American International Group, Inc (NYSE: AIG) today announced that they have entered into a 10-year strategic bancassurance agreement under which AIG will become the exclusive provider of non-life insurance products to Bank Muscat customers in Oman.
Bank Muscat is the leading bank in Oman"...Continue Reading >
Jordan and the World Bank Group (WBG) have concluded a $250 million loan agreement aimed to help alleviate the Kingdom’s fiscal strains and enhance its economic growth.
The Development Policy Loan (DPL) deal was signed by Minister of Planning and International Cooperation Ibrahim Saif and World Bank MENA Region Vice President Inger Anderson during the 2014 Spring Meetings of the WBG and International Monetary Fund being held in Washington.
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QNB Group, the World’s Strongest Bank and the leading bank in the Middle East and North Africa, announced its results for the three months ended 31 March 2014. These results include the financial results of QNB ALAHLI in Egypt.
For the three months of 2014 Net Profit was QR2.4 billion (USD668 million), up by 13.7% compared to last"...Continue Reading >
Minister of Finance, Umayya Toukan, said the will discuss with U.S. Department of Treasury officials next week preparations for the issuance of $1 billion in U.S.-guaranteed Eurobonds in global markets.
The minister said he expects the bonds to be issued before the end of June to take advantage of current low interest rates in global markets as some international institutions expect them to rise in the second half of the year.
The International Finance Corporation ( IFC ), a member of the World Bank Group, has signed an agreement with Bank al Etihad that will help expand financial products and services to small and medium enterprises (SMEs) in Jordan, boost employment and encourage economic growth.
IFC , as a global expert in SME banking, will help Bank al Etihad design a scalable SME banking model to identify"......
Jordan Islamic Bank (JIB), a subsidiary banking unit of Al Baraka Banking Group, achieved a growth of 26.3 per cent in profit before tax for last year at $ 91.26 million, compared with $ 72.21m at the end of 2012.
Net profit after tax saw a growth of 23.8pc to $ 63.61m when compared with $ 51.48m as at the end of 2012.
Al Baraka Banking Group president and chief executive and JIB chairman Adnan Ahmed Yousif said the board of directors recommended the distribution of cash dividends at 15pc of the capital and an increase in the bank's capital"...
The Chief Commissioner of Aqaba Special Economic Zone Authority (ASEZA), Kamel Mahadin, said that the zone is achieving its goals as planned in its comprehensive plan, pointing out that there is a need to do more to boost the development of the area and increase its competitiveness.
During his meeting Wednesday in Aqaba with a delegation from the World Bank, Mahadin said that the transport and logistics sectors in Aqaba are the most important"...
Gemalto (Euronext NL0000400653 GTO), the world leader in digital security, joined forces with Cairo Amman Bank (CAB) to equip the bank's 105 branches with Dexxis Instant Issuance services. The turnkey Gemalto solution, which includes installation and training services, will mark CAB as the first financial institution in Jordan to issue EMV banking cards on the spot. With Dexxis Instant Issuance, customers"...Continue Reading >
i2c, Inc., a provider of payment processing and emerging commerce solutions, today announced that Caledonian Bank Ltd., a division of Caledonian Global Financial Services Inc., is leveraging its global"......Continue Reading >