VOL. XLI
No. 23
8-June-1998
JORDAN
Two Jordanian Banks To Merge
The shareholders of Jordan Investment and Finance Bank and Philadelphia Investment Bankhave voted to join forces to form a new institution capitalized at JD23.5bn, according tolocal newspapers. The new bank will be retain the name Philadelphia Investment Bank. TheCentral Bank of Jordan is pushing through a minimal capital requirement of JD20mn for thebanks within its jurisdiction. With the creation of the new Philadelphia...
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