- AMMAN: Al-Rajhi Bank is planning an expansion of its operations in Jordan, given the country’s promising opportunities and despite the global financial crisis, the bank’s Regional Manager Tareq Aql said Wednesday.
“The bank is embarking on an expansion plan with particular focus on high quality services which will be extended to clients with the most possible speed,” Aql told representatives of the media in Amman.“Al-Rajhi Bank is doing its utmost to present its clients, be them individuals, firms or investment funds, with comprehensive banking services that conform with Islamic teachings,” he said.Aql said Jordan is need of more Islamic banks as the banking institutions which offer services in accordance with Shariah are still represent between 15 and 18 percent of the country’s banking market.”We believe there are real chances for a more sophisticated banking market in Jordan, given the country’s strategic site in the middle of the region’s countries as well as its political stability,” he said.Both factors are set to turn Jordan into an ”international attracting center” for investments which requires a better quality and a larger volume of services that suit future development opportunities and this is what we intend to do, given our long expertise in this respect, he added.Al-Rajhi Bank started work in Jordan in 2009 with a capital of 50 million dinars ($70 million) in line with instructions of the Jordan Central Bank concerning foreign banks. It now has two branches in Amman in Shmeisani and Abdullah Ghousheh Street.

