In a leading step linking Capital Bank to Doha Bank
Amman - As part of its goals to expand its quality electronic banking and investment services to cater for its customers both inside and outside the Kingdom, and in line with its strategies geared towards providing swift, secure and easy processes to cater to its customers, Capital Bank signed an E-Remittance Services agreement with Doha Bank regarding remittance transactions made by expatriates in Qatar.
By virtue of this agreement, which was signed by Mr. Haytham Kamhiyah, Capital Bank's General Manager, and Mr. Rahfan Seetharaman, CEO of Doha Bank, Capital Bank became the sole Jordanian bank to link Doha Bank with all other Jordanian banks within the Kingdom.. This will occur by diverting remittances from Qatar to all Jordanian banks via Capital Bank, as per customer instructions.
Commenting on this agreement, Mr. Haytham Kamhiyah stated: "This agreement reflects our dedication to placing our customers at the top of our priorities. Expatriates working in Qatar can now send remittances with great ease, which facilitates their transactions and saves them both time and effort." He added: "This mutual cooperation between Capital Bank and Doha Bank serves as a starting point that will enable us to extend our reach to our customers across the entire Gulf, Mr. Kamhiyah also indicated that similar agreements with other banks in the Gulf are under preparation, which confirms our ongoing efforts towards maintaining our position as the first banking choice in the local market."
In turn, Mr. Rahfan Seetharaman expressed his pleasure with this cooperation, which he said will pave the way for Doha Bank to offer its services in the Jordanian banking market. He also praised the exceptional banking and investment services that Capital Bank offers and its advanced position within the Jordanian banking market.
The services extended by virtue of the agreement will commence on Sunday the 25th of April 2010 at all Capital Bank branches across the Kingdom.
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About Capital Bank
Capital Bank has been steadily expanding its operations since its inception in 1995, positioning itself today as the third largest bank in the Kingdom in terms of authorized capital, which amounts to JOD 150 million / shares. The bank's capital ratio exceeds the Basel Committee's and the Central Bank of Jordan's requirements and its operational efficiency is considered to be one of the best in the market.
Distinctly characterized by its financial stability, Capital Bank achieved the second highest level of growth in deposits for 2009, which grew by 28% reaching JOD 680 million in comparison to 593 million in 2008. In addition, the bank boasts a high liquidity ratio to the Jordanian Dinar, which amounts to 151% compared to the 70% requirement of the Central Bank of Jordan. The bank also achieved the high asset growth, which exceeded the JOD 1 billion mark at the end of 2009 in comparison to JD984 million in 2008 recording a 9% growth.
Capital Bank's ambitious and highly-qualified human resources and management team have achieved several successes that have yielded exceptional results in several fields, one of which is that it received a BBB credit rating by Capital Intelligence according to its January 2010 report, which positioned Capital Bank as the fourth highest rating in Jordan.
This news release has been distributed by Bidaya Corporate Communications on behalf of Capital Bank.
For more information or assistance please contact us on the below number:
Tel: +962 6 5692008/9
Fax: +962 6 5692007
P.O.Box: 930391,
Amman 11193,
Jordan
E-Mail: media@bidayacorp.com
© Press Release 2010
