BANKING

Government likely to increase income tax on banksSeptember 22, 2018

The government will reconsider the income tax on banks in the new income tax draft bill, an official said on Thursday.

“We will revisit the percentage of the income tax imposed on banks following several complaints and remarks we have been receiving recently calling for that,” Minister of State for Legal Affairs Mubarak Abu Yamin told The Jordan Times on Thursday.

The"...

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Bank al Etihad introducing the New SWIFT GPI Feature in JordanSeptember 20, 2018

Joining a growing network of over 90 leading banks worldwide, Bank al Etihad‘s retail and corporate clients can now securely send and receive transfers across borders with greater speed and enjoy an array of added value features through the recently introduced SWIFT global payments innovation (SWIFT gpi), while facilitating financial stability and fund management.

By"...

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UAE participates in meeting of Arab central banks in JordanSeptember 19, 2018

The Governor of the Central Bank of the UAE, Mubarak Rashed Al Mansouri, participated in the 42nd session of the Council of Governors of Arab central banks and financial institutions, hosted by Jordan on Tuesday.

In his opening remarks, Jordanian Prime Minister, Omar Razzaz, said that Arab central banks were capable of playing a vital role in reducing external and internal economic risks.

He"...

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EBRD to boost investments in Arab countries to $2.92bln in 2018September 19, 2018

The European Bank for Reconstruction and Development (EBRD) aims to boost investments in Arab countries to 2.5 billion euros ($2.92 billion) at the end of 2018 from 2.2 billion in 2017, a senior official said on Tuesday.

The bank, set up by governments in 1991 to support the ex-Communist states of eastern Europe, has expanded its mandate in the past few years to"...

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Jordan to Play Host to Arab Central Bankers' 42nd SessionSeptember 16, 2018

Jordan is set to host, on Monday the 42nd session of the Board of Governors of Arab Central Banks and Monetary Agencies.
According to the board, the session will be attended by the representatives of the Arab Leagues, the Gulf Cooperation Council (GCC), the Union of Arab Banks, the Union of Arab Securities Commissions and the Financial Action Task Force for the Middle East and North Africa .
Participants shall discuss the regional, international and regional monetary, financial and economic developments and their"...

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Merger Agreement between Barwa Bank and International Bank of Qatar (ibq)August 29, 2018

Barwa Bank and International Bank of Qatar (ibq) have announced that they have signed a final agreement regarding the merger of the two banks to create a leading Sharia compliant financial institution with a solid financial position and robust liquidity to support Qatar’s economic growth and finance development initiatives in line with Qatar National Vision 2030.

According"...

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CBJ issues third round of Sukuk for NEPCOAugust 27, 2018

The Central Bank of Jordan (CBJ) on Sunday announced the third issuance of Sukuk (Sharia compliant bonds) for the National Electric Power Company (NEPCO).

The total value of the offered Sukuk stands at JD150 million with a return (Murabaha Rate) of 5.47 per cent per year and a tenor of five years, the CBJ said on its website.

The third round is part of an effort by the"...

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