Financial and Banking
Moneychanger's Suicide Triggers Jordanian Bank Crisis
The Central Bank of Jordan acted quickly last week to head off an incipient banking crisis in the country triggered by the suicide of a prominent moneychanger who left behind debts of JD18mn ($52mn), including a JD5.4mn ($15.5mn) exposure to the banking system. The banks involved have not been named, but reportedly include four local and two foreign institutions. Rumors spread rapidly...