Financial and Banking News
Jordanian Consortium Bank Formed in London
The Jordan Finance Consortium PLC has been granted Licensed Deposit Taker (LDT) status by the Bank of England and has been incorporated with a capital of £20mn ($24mn) in London. It will commence operations at the end of the month. 20% of the new bank's capital is held directly by the Jordanian Government, while 15 Jordanian banks and investment institutions hold the remaining 80%. The...