CAB

Loan for Mortgage Refinance of (10) Million Dinar was granted to Cairo Amman Bank

Date: 
Mon, 2018-02-19

Jordan Mortgage Refinance Company has signed loan agreement with Cairo Amman Bank under which the bank was granted a loan of (10) Million Dinar with maturities of two years to refinance the residential housing loans granted by the Bank to its customers against mortgages guarantees. 

The agreement was signed at the Headquarters of the Central Bank of Jordan in the presence of Vice Chairman of the Company's Board of Directors the Deputy Governor of the Central Bank H.E Dr. Adel Al-Sharkas and Deputy General Manager Mr. Abdul Razzak Tbeishat, and on behalf of Cairo Amman Bank H.E the General Manager Mr. Kamal Al-Bakri and Ms Rana Al-Sona'a Deputy General Manager for Credit and Treasury Services.

The agreement was signed on behalf of the Company by H.E Dr. Adel Al-Sharkas and on behalf of the Bank by Mr. Kamal Al-Bakri.

Dr. Al-Sharkas stated that this agreement is in line with having the goals of the Company achieved by activating the residential housing finance market in the Kingdom for the purposes of allowing banks and financial institutions to increase their contribution to the residential housing finance market; especially for those with middle and low incomes to help them own housing.

Mr. Al-Bakri also stated that this agreement contributes to enhancing the role of the Bank in the residential housing finance market in the Kingdom by providing more funds to grant residential housing loans to civilians with competitive interest rates and with maturities which commensurate their ability to repay, and this agreement also contributes to matching the maturities of the sources of the Bank's funds with their uses and managing its assets and liabilities more efficiently.

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