IslamicFinance.de

Jordan Prime Minister Abdullah Ensour reportedly said that the Government is discussing plans to establish a state-owned bank that would offer low cost credit facilities to small and medium-sized enterprises (SMEs). The proposed bank would not accept deposits but would operate on similar lines to the former Industrial Development Bank (IDB) with the aim of boosting SMEs and the broader industrial sector. The IDB was sold and now operates as the Shari’ah-compliant Jordan Dubai Islamic Bank. The Jordan Government aims to be the largest shareholder in the proposed bank but has indicated that international and regional financial institutions would be interested to become partners.