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Thursday, 27 May 2010

Jordan Dubai Islamic Bank trades on Amman bourse | Reuters

Jordan Dubai Islamic Bank INDV.AM made its market debut on the Amman stock exchange on Wednesday, nearly 18 months after UAE-based investors bought a majority stake in a local Jordanian bank and rebranded it.

The UAE's Dubai Islamic Bank had bought a 52 percent stake in Industrial Development Bank of Jordan and shares in the predecessor of Jordan Dubai Islamic Bank were then suspended on Dec. 30 2008.

The newly branded bank began commercial operations several months later. Its shares closed at 2.09 dinars ($3) on Wednesday, or 11.4 percent lower than its forerunner's last close.