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FINANCIAL NEWS
Saudi, Jordan set up USD3bn joint fund
29 Mar 2017
(MENAFN) The establishment of a mutual fund to launch an USD3bn worth of investments was a milestone in the installation of a project that would serve the interests in Jordan and Saudi Arabia.
Moreover, the new firm is a joint investment between them, which manages almost 200 investments worldwide and two regional bank groupings; Jordan Commercial Banks and Jordan Islamic Banks.
Meanwhile, the project comes in line with the Saudi development plan for 2030, which aims diversification of investments and destinations.
In addition, each of the two banking groups was recorded as a private shareholding firm, with the first involving Arab Bank, Housing Bank for Trade and Finance and others.
MENAFN2903201700450000ID1095351762
MENAFN2903201700450000ID1095351762
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