------------- -------------- ------------------- -------------------

NBK terminates operations in Jordan after ceding them to AJIB

This post has been read 6317 times!

AMMAN, May 25: The National Bank of Kuwait (NBK) said Wednesday it terminated all banking operations in Jordan under the agreement signed with the Arab Jordan Investment Bank (AJIB) in last February. The agreement, approved by the Central Bank of Jordan, allowed AJIB to take over the entire assets and liabilities of the NBK, including the customers’ deposits and loans, according to a NBK press release.

The acquisition process started automatically in February and completed at 1:00 pm. (local time) today, the statement noted. In a related development, the Central Bank of Jordan decided to cancel the license previously awarded to the NBK-Jordan to operate in the Kingdom as per the banking regulations.(KUNA)

Check Also

NBK reports KD 84.3mn net profit for Q1

This post has been read 6318 times! KUWAIT CITY, April 20: National Bank of Kuwait …