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...