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The Arab Finance Corporation
(Jordan), which was later licensed as Union Bank
for Savings & Investment, was established to
fill this void. AFC (Jordan) was incorporated
and registered in the official registry of
Jordanian Companies at the Ministry of Industry
and Commerce on November 20th, 1978, as a public
shareholding company under number “123”. The
founding of the company was completed on January
24th, 1979, with paid up Capital of JD 2,125,000
held by Jordanian and other Arab investors. |
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The Central Bank of Jordan
issued its license for the company to operate as
a financial Corporation and Money Exchanger. AFC
(Jordan) also gained its brokerage and
underwriting licenses from the Amman Financial
Market at the time, Amman Stock Exchange now. |
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By 1/7/1991 the company
completed all the requirements for its
transition to an Investment Bank, under the name
of “Union Bank for Savings & Investment”. |
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Throughout the following
years, the Bank accomplished a steady and
sustainable growth, and as a result of a series
of mergers, capitalization and stock issues, the
Bank's paid – up capital reached JD.
(40,000,000) By the year of 2005. |
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Union Bank for Savings &
Investment is considered one of the leading
Banks in providing a variety of financial
services and consultations both locally &
internationally. |
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The bank employs the most
qualified and well-trained staff who utilizes
the most up-to-date technological resources to
provide sophisticated Banking Services
efficiently and effectively. |
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