Global Arab Network | Central Bank of Jordan - Over .5billion reserves

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Central Bank of Jordan - Over $5.5billion reserves

Global Arab Network - - Gamal Ragay

Wednesday, 05 May 2010 11:42

The Central Bank of Jordan (CBJ) has announced that the volume of excess reserves including overnight window deposits is JD 3.930 billion ($5.55075billion).

The volume of required reserves is 1.113 billion.

"No repurchase agreements were held with the bank yesterday", CBJ added.

The Central Bank of Jordan has announced the auction of the 21st issue of Jordanian Treasury bonds for the year 2010 worth JD50 million. The Bank added that the maturity date of these bonds is May 6, 2012 while their settlement date is May 6, 2010.

Since King Abdullah II's accession to the throne in 1999, liberal economic policies have been introduced which has resulted in a boom lasting for a decade continuing even through 2009.

Jordan is now one of the freest and most competitive economies in the Middle East scoring higher than the United Arab Emirates and Lebanon.

Jordan's developed and modern banking sector is becoming the investment destination of choice due to its conservative bank policies that helped Jordan escape the worst of the global financial crisis of 2009.

With instability across the region in Iraq and Lebanon, Jordan is emerging as the "business capital of the Levant" and the "the next Beirut". Jordan's economy has been growing at an annual rate of 7% for a decade.

Global Arab Network

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