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January 31, 2018

Bank of Jordan secures banking licence in Bahrain

Bank of Jordan (BOJ) has secured a wholesale bank (branch) licence from the Central Bank of Bahrain (CBB) to carry out banking business in the country Bahrain.

Central Bank of Bahrain director of licensing Ahmed Abdulaziz Al-Bassam said the CBB welcomes Bank of Jordan decision to open a wholesale bank (branch) in Bahrain for its unique position as a financial hub in the region.

Bassam further added that Bank of Jordan presence in Bahrain will positively reflect on the bank business. The bank will also help in boosting the commercial and financial relationship between the two countries.

Bank of Jordan chairman of the board Shaker Tawfiq Fakhouri said: “We chose Bahrain as our first regional hub due to its pre-eminent history as being the center for banking and recognizing that Central Bank of Bahrain has the distinction of being known as the most respected regulator in the GCC region.

“Bahrain is also strategically located in GCC region and this gives us the opportunity to expand our wholesale banking activity and relationships with the regional banks and corporates.”

Formed in 1960, Bank of Jordan started its operation as a public shareholding limited company with headquarters in Amman, Jordan.

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