BANKING

World Bank: Gulf grant to push Jordan's economyApril 14, 2014

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"...

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Bank Muscat and AIG Form Bancassurance Partnership in OmanApril 13, 2014

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"...

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Jordan, World Bank sign $250m loan agreementApril 12, 2014

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: Financial Results for the Three Months Ended 31 March 2014April 9, 2014

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"...

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Jordan expects eurobond deal with U.S. Treasury by JuneApril 7, 2014

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.

"...

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IFC Partners with Bank al Etihad to Expand Access to Finance for SMEs in JordanMarch 29, 2014

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"......

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World Bank discusses assistance to ASEZAMarch 27, 2014

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"...

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Cairo Amman Bank and Gemalto introduce the first EMV instant issuance services to JordanMarch 26, 2014


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"...

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Caledonian Bank Taps i2c for Debit Card ProcessingMarch 25, 2014

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"......

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