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Asharq Al-Awsat
Asharq Al-Awsat
Business
London - Asharq Al-Awsat

Standard Chartered Agrees to Sell Business in Jordan

Standard Chartered Jordan Standard Chartered Bank Middle East London Africa
A branch of Standard Chartered Bank in London. (Reuters)

Standard Chartered plans to sell its Jordanian business to Arab Jordan Investment Bank (AJIB), the two parties said on Sunday, as Standard Chartered presses ahead with plans to exit seven markets in Africa and the Middle East.

The bank entered into an agreement with AJIB, subject to central bank approval, which will see Standard Chartered's corporate, commercial, and institutional banking, consumer lending, and private banking businesses migrated to AJIB.

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