VOL. XLV

No 35

2-September-2002

JORDAN

Jordan Banks Weather RegionalConflicts, Bad Loan Exposure

TheJordan banking sector performed well in 2001, with four of the six major Jordanianbanks ending the year with positive financial results despite the backdrop ofthe ongoing Palestinian uprising against Israel, a possible US attack on Iraqand exposure to bad loans resulting from the unfolding 2002 banking scandalinvolving businessman Majd Shamayilah, the former head of Global Business.

Localanalysts...