BANKING

Jordan signs pact to create Asian bank for investmentJune 30, 2015

Minister of Planning and International Cooperation, Imad Fakhoury, Monday signed an agreement to establish the Asian Infrastructure Investment Bank (AIIB) in Beijing as a founding member along with other 57 countries.

The agreement, considered as the legal document and reference for organizing the bank's work, includes articles about the bank's objectives, scope of work, membership conditions and distribution of capital to member states.

In a statement, Fakhoury said: "The establishment of the bank aims to provide financing for investment projects in the infrastructure and productive...

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World Bank supporting solar energy projects in JordanJune 27, 2015

The Multilateral Investment Guarantee Agency (MIGA), the political risk insurance and credit enhancement arm of the World Bank Group, is backing the development, construction and operation of four solar power projects in Jordan, adding 50 megawatts of clean, renewable energy generation capacity to the country's grid.

The plants in Maan and Mafraq benefit from a 20-year power purchase agreement with the National Electric Power Company, according to a MIGA statement released Wednesday.


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Cairo Amman Bank Flash Comment: Jordan's Trade Deficit Narrowed By 15.7% In The First Four Months Of 2015June 24, 2015

The Department of Statistics released figures showing that Jordan’s trade deficit narrowed by JD 526 million or 15.7% during the first third of 2015 compared to the same period in 2014.


The trade balance stood at JD -2,835 million in the first third of 2015, compared to JD -3,361 million over the same period in 2014.


All exports, imports,"......

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‘Jordanians have $3b in Swiss banks’June 24, 2015

Deposits of Jordanians in Swiss banks were around JD2.13 billion (around $3 billion) last year, according to a recent report released by the Swiss National Bank (SNB).


The report showed that savings of Jordanians in Switzerland grew by around 12 per cent over 2013, when deposits stood at JD1.9 billion.

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Central bank signs agreement with Islamic International Arab BankJune 21, 2015

The Islamic International Arab Bank (IIAB) and the Central Bank of Jordan (CBJ) on Saturday signed an agreement of restricted investment mandate to finance industrial, tourist, agricultural and renewable energy projects with soft loans.


Deputy CBJ Governor Maher Sheikh Hassan said the medium-term loan programme from CBJ is now available for Islamic banks working in Jordan.

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Housing Bank signs $120 million syndicated term loan facility agreementJune 18, 2015

The Housing Bank for Trade and Finance (HBTF) along with a number of Jordanian banks and financial institutions on Wednesday, signed a $120 million syndicated term loan facility agreement to "Jordanian Egyptian Fajr for Natural Gas Transmission & Supply Co. Ltd" in order to fulfill its various financing needs.

According to a ...

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Jordan Ahli Bank serves as official sponsor of New Think StudioJune 2, 2015

As part of its efforts to support and motivate students across the Kingdom, Jordan Ahli Bank recently sponsored New Think Studio, an initiative that shares inspiring true stories with local youth, encouraging these young people to adopt positive thinking and work proactively towards their goals.


New Think Studio was conducted at 16 universities across the Kingdom, Jordan"...

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Central Bank's liquidity position reaches JD4.4billionJune 2, 2015

The Central Bank of Jordan (CBJ) announced Monday that the obligatory reserved volumes held at CBJ amounted to JD1.5billion with JD2.8billion as excess liquidity capital including the overnight window deposits.

The CBJ said that the certificate of deposits issue number (17/2015) reached JD1 billion and will be matured tomorrow.

It added that the value of overnight repurchase agreements (REPO) held with the CBJ was JD 19.8million"...

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Intellect wins three awards at the Asian Banker Awards 2015, for Core Banking and Multi-Channel ImplementationsJune 2, 2015

Best Single Country Core Banking Implementation in the Middle East


Best Single Country Core Banking Implementation in Africa


Best Multi-Channel Implementation in the Middle East


Intellect Design Arena Ltd, a specialist in applying true Digital Technologies across Banking & Insurance, has won three Technology Implementation awards for the year 2015 at The Asian Banker’s 2nd Annual Middle East and Africa Awards. In the awards ceremony held at the Ritz Carlton, DIFC, Dubai, Intellect's Global Consumer Banking (iGCB) and Global Transaction"......

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Companies financing smallest firms come under central bank regulationsMay 31, 2015

Licensing, monitoring and supervising micro-finance companies have become the task of the Central Bank of Jordan (CBJ), as the 2015 Micro-Finance Companies By-law will go into effect as of June 1, a CBJ statement announced on Saturday.


The bank's decision to include these companies under its umbrella is in light of the sector's role in providing finances to low-income people"...

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