CBB grants Bank of Jordan branch license

Manama, Jan. 29 (BNA): The Central Bank of Bahrain (CBB) said it has granted a wholesale bank (branch) license to Bank of Jordan to operate in Kingdom of Bahrain. Ahmed Abdulaziz Al-Bassam, Director of Licensing said "The Central Bank of Bahrain welcomes Bank of Jordan decision to open a wholesale bank (branch) in Bahrain for its unique position as a financial hub in the region." "Bank of Jordan existence in Bahrain shall, positively reflect on the bank business and will help in strengthening the commercial and financial relationship between Kingdom of Bahrain and Kingdom of Jordan," he added. Shaker Tawfiq Fakhouri, Chairman of the Board of Bank of Jordan said: "We chose Bahrain as our first regional hub due to its pre-eminent history as being the center for banking and recognizing that Central Bank of Bahrain has the distinction of being known as the most respected regulator in the GCC region. Bahrain is also strategically located in GCC region and this gives us the opportunity to expand our wholesale banking activity and relationships with the regional banks and corporates." The Bank of Jordan was established in 1960 as a public shareholding limited company with headquarters in Amman – Jordan. It is regulated by Central Bank of Jordan as a commercial bank and listed on Amman stock exchange.