Bank of Jordan enters Bahrain

Manama : Bank of Jordan has been granted a licence to operate in the Kingdom as a wholesale bank, said the Central Bank of Bahrain in a statement.

Announcing the approval, 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.

Bank of Jordan, established in 1960 as a public shareholding limited company with headquarters in Amman – Jordan, is regulated by the Central Bank of Jordan as a Commercial Bank and is listed on Amman stock exchange.

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 centre for banking and recognizing that Central Bank of Bahrain has the distinction of being known as the most respected regulator in the GCC region.”