29 August 2011
AMMAN (JT) - Standard Chartered Bank signed last week an agreement with EMPH, Actis' payment platform, to provide a facility to EMPH and assist its growth in the Middle East and Africa besides the acquisition of Visa Jordan Card Services Company (VJCS), Jordan's largest merchant acquirer and effectively national ATM. The bank has also managed the escrow account between the sellers and the buyer- EMPH - to facilitate the acquisition. Ahmad Abu Eideh, chief executive officer, Standard Chartered, said: "This agreement reflects the bank's confidence in the growth potential of Jordan's payment market.
We have maintained our commitment to support the national economy and to promote Jordan as a leading financial hub for the region, and this agreement underlines our brand promise to be here for good." Rick Phillips, partner at Actis, said: "Standard Chartered Bank has provided great support during this transaction and continues to support Actis' work across the emerging markets." Paul Edwards, executive chairman of?EMPH, said: "Our vision is for EMPH to become the Middle East and Africa's leading payment business through organic growth and a buy-and-build strategy."
AMMAN (JT) - Standard Chartered Bank signed last week an agreement with EMPH, Actis' payment platform, to provide a facility to EMPH and assist its growth in the Middle East and Africa besides the acquisition of Visa Jordan Card Services Company (VJCS), Jordan's largest merchant acquirer and effectively national ATM. The bank has also managed the escrow account between the sellers and the buyer- EMPH - to facilitate the acquisition. Ahmad Abu Eideh, chief executive officer, Standard Chartered, said: "This agreement reflects the bank's confidence in the growth potential of Jordan's payment market.
We have maintained our commitment to support the national economy and to promote Jordan as a leading financial hub for the region, and this agreement underlines our brand promise to be here for good." Rick Phillips, partner at Actis, said: "Standard Chartered Bank has provided great support during this transaction and continues to support Actis' work across the emerging markets." Paul Edwards, executive chairman of?EMPH, said: "Our vision is for EMPH to become the Middle East and Africa's leading payment business through organic growth and a buy-and-build strategy."
© Jordan Times 2011
