VOL. XLVI

No 6

10-February-2003

JORDAN

Central Bank Of Jordan Dissolves Jordan Gulf Banks Board

The Central Bank of Jordan (CBJ) on 2 February dissolved the board of directors of Jordan Gulf Bank (JGB) and appointed a managing committee, headed by Thabit al-Tahir, a CBJ board member, to guide the day-to-day running of JGB and prepare it for a merger with one of the kingdoms other banks. Following the CBJs dissolution of the board, panicked customers withdrew some JD16.5mn ($23mn) in deposits,...