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Financial and Banking News

Regional Banking

Central Bank of Jordan Finds Embezzlement at Petra Bank

The Governor of the Central Bank of Jordan, Dr. Muhamad Sa'id al-Nabulsi, hasindicated that the Jordanian authorities now have evidence of large scale fraudand embezzlement at Petra Bank. According to Dr. Nabulsi, the takeover ofPetra Bank in early August (MEES, 14 August) was based on a Central Bank reportshowing that Petra had breached lending limits, opened...