BANKING

Required and excess reserves at Central Bank reach JD4.594 billionJuly 27, 2015

Required reserves at the Central Bank of Jordan ( CBJ ) stood at JD1.556 billion while excess liquidity, including overnight window deposits reached JD3.038 billion.

The CBJ said on its website that the outstanding balance of one week certificate of deposits reached JD1 billion and will be matured on 28/7/2015.

According to the CBJ No overnight repurchase agreements were held with the ......

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ZTE Becomes One of the First Group of Partners in China Mobile Open NFV Test LabJuly 16, 2015

ZTE Corporation (0763.HK / 000063.SZ), a major international provider of telecommunications, enterprise and consumer technology solutions for the Mobile Internet, is pleased to be selected as one of the first group of partners in China Mobile’s Open NFV Test lab, aiming at driving the global adoption and commercialization of NFV (network function virtualization) technology.


The"...

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Arab Bank Group announces higher midyear net profitJuly 12, 2015

Arab Bank Group announced Saturday in a press statement that its midyear net profit before tax reached $559.7 million.

The press statement indicated that net profit after-tax and provisions during the first half of this year amounted to $422.9 million, 2 per cent higher than the $414.9 million registered during the January-June period of last year."...

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World Bank, IMF launch Initiative to support developing countries in strengthening tax systemsJuly 12, 2015

The World Bank and IMF are launching a new initiative to help developing countries strengthen their tax systems.

A statement issued by the IMF on Saturday, a copy of which was obtained by Petra, said that raising additional revenues will allow developing countries to fill financing gaps and to promote development.

The announcement comes ahead of the "Financing for Development" conference in Addis, Ethiopia next week, at which heads"...

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Arab Monetary Fund extends $58m to Kingdom July 11, 2015

The Finance Ministry and the Arab Monetary Fund (AMF) on Thursday signed a loan agreement for the Kingdom worth $58 million (around JD41 million).


Finance Minister Umayya Toukan, who signed the agreement on behalf of the government, said the loan will be used to support the structural reform of the public finances, a year-long programme starting from July,"...

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CBJ cuts interest rates by 0.25% July 9, 2015

The Central Bank of Jordan (CBJ) announced Wednesday it is cutting its benchmark lending rates by 25 percent basic points, setting the key monetary policy instruments rates at 2.5 percent, down from 2.75 percent.

The bank also said it will trim its discount rate to 3.75 percent, instead of 4 per cent, and overnight repo rate to 3.5 per cent, down from 3.75 per cent, as of Thursday.

In a statement, the CBJ cited positive indicators"...

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Non Jordanian Investment At The Amman Stock Exchange During June 2015July 8, 2015

The total value of shares that were bought by non-Jordanian investors since the beginning of the year until the end of June 2015 was JD268.8 million, representing 20.5% of the overall trading value, while the value of shares sold by them amounted to JD260.3 million. As a result, the net of non-Jordanian investments showed an increase of JD8.4 million, compared to a decrease by JD28.5 million for the same period of 2014.

The total value of shares that were bought by non-Jordanian investors during June 2015 was JD56.9 million, representing 20.9% of the overall trading value, while the value...

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MECE factories now become property of Jordan Commercial BankJuly 6, 2015

Factories belonging to the Middle East Complex Engineering Electronics and Heavy Industries (MECE) are now the property of Jordan Commercial Bank (JCB).

MECE, a company registered to produce, trade, distribute, and export electronic and electric home appliances in collaboration with other electronic companies, informed the ...

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Iraq remains promising country with big opportunities for Capital Bank of JordanJuly 2, 2015

Capital Bank of Jordan was authorised last week by the Jordan Securities Commission ( JSC ) to raise its capital from JD181.5 million to JD200 million.

The JD18.5 million capital increase will be carried out through capitalising the amount from the JD44.16 million of retained earnings and distributing bonus shares at a rate of 10.19 to shareholders registered in the company's records at the end of July 7, 2015, which is 15th day from the date of the ......

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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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