(Amman – January 2018): Bank of Jordan is proud to announce that it has obtained regulatory clearance and license from both Jordan and Bahrain Central Banks to operate as a conventional wholesale bank. Bank of Jordan has started its operations in Bahrain early January this year at “Bahrain Financial Harbor”, the most prestigious business hub in the Kingdom of Bahrain.
Bank of Jordan, a well-respected and leading financial institution in Jordan was formally founded in 1960 under the regulation of the Central Bank of Jordan and is listed on Amman stock exchange. Mr. Fakhouri, Chairman of the Board of Bank of Jordan said “We chose Bahrain as our first regional hub due to its pre-eminent history as being the center for offshore 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.”
Bank of Jordan has appointed Mr. Salam Gamoah as its Chief Executive Officer for its regional wholesale operations out of Bahrain. Mr. Gamoah, is an experienced banker with a long history of working in the international wholesale banking industry. He was Executive Vice President, Foreign Branches, managing Bank’s regional expansion strategy since he had joined the Bank in April 2014.
Commenting on this milestone, Mr. Fakhouri added, “Establishing our new hub in Bahrain is a great achievement for us, and a clear indication of the success of our expansion strategy. This milestone not only reflects the growth of our business and the increasing demand for our innovative banking and investment services, but also puts us one step closer to fulfilling our vision of being the leading bank in Arab region. As one of the first banks established in Jordan, with an existing regional presence both in Palestine and Syria, our newly added business unit in Bahrain will expand our wholesale banking services in the MENA region”.
Mr. Ahmed Abdulaziz Al Bassam, Director of Licensing & Policy, Central Bank of Bahrain, said "We welcome Bank of Jordan's decision to choose Bahrain as their financial hub to extend the bank's existing operations to corporates and institutions in Bahrain and the wider region."