Jordan gets $76m loan for banking reforms

21 June 2010

Ummaya Toukan, governor of the central bank of Jordan has said the Arab Monetary Fund has approved a $76m loan for the kingdom to undertake key financial reforms inclduing bank stress tests and setting up a credit bureau, Reuters has reported. The disbursement of the funds is tied to implementing the three-phased plan, he said. Since the global downturn, monetary authorities in the kingdom have strengthened supervision of the country's banking sector to reduce financial vulnerabilities by boosting capital adequacy ratios, liquidity and installing early warning systems.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications