NBK terminates operations in Jordan after ceding them to AJIB
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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)
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