Press Release — The Bank of Jordan announced it
has launched its operations in Iraq, inaugurating its first branch in Baghdad,
the bank said in a statement.
اضافة اعلان
It said the Bank of Jordan obtained all the required
licenses from both the
Central Bank of Jordan (CBJ) and the Central Bank of
Iraq, together with fulfilling the requisites and completing the procedures
pertaining to initiating business operations in the Iraqi market.
Bank of Jordan Chairman Shaker Fakhouri said that
the decision to establish a branch in Iraq “serves to boost our regional
presence, and exemplifies the strategy adopted by the bank, namely expanding
its business operations in the region, where markets are witnessing substantial
growth and promising opportunities”.
“This is expected to reflect positively on the
services offered to both our current and prospective clients,” he said.
“Furthermore, we strive to develop our banking scheme in a manner that reflects
the Royal visions of boosting investments and achieving economic coordination
and collaboration between the two states, thus consolidating our robust
economic and historical relations with Iraq.”
“Today, we launch our operations from Iraq as a
testament to the longstanding and robust journey of the Bank of Jordan, which
extends back to more than 60 years in the banking and financial industry,”
Fakhouri added.
He said the move also underscored the bank’s success
in implementing its vision, which “aspires to become a leading institution in
the Arab region, while expanding the network of Bank of Jordan branches to
include the Iraqi market — considered one of the most prominent markets in the
region.”
Fakhouri said that the bank is currently finalizing
the preparations for establishing its first branch in the Saudi capital Riyadh,
having recently acquired the license permitting it to take part in banking
activities within the Kingdom.
He reiterated the bank’s continuous efforts towards
regional expansion into countries where markets are witnessing growth and
development on both the economic and investment fronts.
The bank’s chairman expressed his thanks and
gratitude to the CBJ for the continuous trust and support extended to Bank of
Jordan in implementing its external expansion plans. He also commended the
Central Bank of Iraq for facilitating the inauguration of Bank of Jordan branch
in the capital Baghdad.
Fakhouri said that launching the
Baghdad branch is a
manifestation of the Bank of Jordan’s commitment to designing its network of
branches in a manner that is conducive to achieving the bank’s vision and
strategic direction, while serving its large clientele base, through
conventional means as well as via offering digital and online services.
He announced that Jawdat Mahmoud Jawdat was
appointed CEO of Bank of Jordan – Iraq, owing to his extensive banking
experience and expertise, which spans more than 27 years. Jawdat has also
commanded several important positions throughout his career at various
national, regional and international banking institutions.
Bank of Jordan’s presence in Iraq will allow it to
expand the scope of offerings to corporate clients in both Jordan and Iraq. The
new branch also boasts a distinctive design that is consistent with the
innovative concept of a banking business environment, while being aligned with
progressive standards of client privacy and confidentiality, featuring
interactive channels and streamlined procedures.
The Bank of Jordan operates in accordance with an
approach that is underpinned by the continuous development and enhancement of
all activities and lines of business, while keeping up with the rapid
developments witnessed by the banking industry, as per best global practices.
Bank of Jordan is one of the first financial institutions to
be established in Jordan in 1960. Bank of Jordan commands a large presence,
currently extending throughout the
Middle East region, through its branches,
subsidiaries, digital and online channels. The Bank of Jordan Group consists of
the Bank of Jordan – Jordan and Palestine branches and Wholesale Bahrain branch
– together with its subsidiaries: Bank of Jordan – Syria, Excel for Financial
Investments Company, Jordan Leasing Company; and today, Bank of Jordan – Iraq.
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