close

policy

We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Agree
Disagree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Gender
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

 
 
Latest News

PE firm buys 6.6 percent of Jordan Dubai Islamic bank

200-dubai-islamic-bank

Jordan-based private equity firm Foursan Group has acquired a 6.6 percent stake in Jordan Dubai Islamic Bank, making it the bank's second largest stakeholder, Foursan said on Thursday.

0

September 6, 2012 5:42 by



ordan-based private equity firm Foursan Group has acquired a 6.6 percent stake in Jordan Dubai Islamic Bank, making it the bank’s second largest stakeholder, Foursan said on Thursday.

The firm declined to disclose the monetary value of the deal. It is not yet considering seeking a seat on the bank’s board because the term of the current board has yet to expire, Foursan’s vice-president Jameel Anz told Reuters.

Foursan’s investment was made through the firm’s $100 million fund Foursan Capital Partners I, which closed in 2009. The fund’s investors included Jordan’s Social Security Corp and the International Finance Corp, an arm of the World Bank.

JDIB, one of four Islamic banks in Jordan, is the successor to Industrial Development Bank, which converted its operations to become an Islamic lender in 2009.

JDIB’s assets grew 31 percent to 350 million dinars ($495 million) in 2011, according to company data. Net income reached 5.35 million dinars during the same period, after a loss of 3.5 million dinars in 2010.

The Jordanian market has also attracted Saudi Arabia’s Al Rajhi Bank, which started operations in March 2011, marking Jordan the third international foray for the world’s largest Islamic lender. (Editing by Andrew Torchia)



0

Tags: , , , ,

Leave a Comment