Arab Jordan Investment Bank to acquire the Jordan business of Standard Chartered.

Arab Jordan Investment Bank, a Jordanian bank established in Amman, agreed to acquire the Jordan business of Standard Chartered, a British multinational bank with operations in consumer, corporate and institutional banking, and treasury services. Financial terms were not disclosed. "We are pleased to sign this agreement today and to have been selected by Standard Chartered Bank as the preferred buyer. Standard Chartered Bank is a leading regional and international bank with more than 160 years of experience, the bank has been present in Jordan for more than 98 years. We are also pleased to announce that this agreement has already been approved by the regulatory authorities. We look forward to working closely with Standard Chartered’s team over the coming few months towards achieving a successful conclusion to this transaction without impact on clients and employees," Hani Al-Qadi, Arab Jordan Investment Bank Chairman of the Board of Directors.