Financial and Banking News


JNB Licensed in Cyprus 

The Jordan National Bank (JNB) was last week duly licensed by the Central Bank of Cyprus to open an OBU on the island (MEES, 15 October). JNB is the third largest commercial bank operating in Jordan, and is 100% owned by local inves- tors. At the end of 1983 JNB had assets (less contra ac- counts) of JD126m ($340mn) and 34 branches, of which five are in Lebanon, where the bank's end-1982 assets totalled LL171mn...