Capital Bank signed a Trade Facilitation Program (TRP) partnership agreement with the European Bank for Reconstruction and Development (EBRD) with the attendance of the bank’s Chairman Bassem Khalil Al- Salem in a move to promote international trade in Jordan.
The agreement was signed by Capital Bank’s General Manager, Haytham Kamhiyah and Dr. Heike Harmgart, Head of the EBRD Resident Office in Jordan.
Under the agreement, Capital Bank was granted a credit line of US $10 million to promote import and export activities in Jordan through providing a wide range of trade finance products to its customers in addition to developing new products. The agreement will help Capital Bank gain access to a wide range of companies that work in international trade.
According to Kamhiyah, the EBRD plays a vital role in aiding various economic sectors through its partnership agreements with accredited and prestigious banking institutions.
Kamhiyah also stated that the agreement will enable Capital Bank to enter into international trade operations with other banks participating in the partnership program in addition to countries covered by the initiative as well. This will facilitate trade activities between Jordan and these countries in addition to providing comprehensive banking services and innovative solutions to meet customer needs in a manner that guarantees the facilitation of foreign transactions, particularly in the event of increased risk with regards to foreign banks.
In addition, Dr. Harmgart praised the role Capital Bank’s plays in addition to their cooperation, highlighting the importance of signing such an agreement in terms of supporting regional and international trade, which is considered to be the optimal solution in supporting the Jordanian economy. She equally expressed her gratitude with regards to this cooperation in promoting such activities.