HBTF, Instingo AG sign e-trade agreement

Published October 25th, 2000 - 02:00 GMT

The Housing Bank for Trade and Finance (HBTF) has signed a partnership agreement with the German company, Instingo AG, to facilitate electronic trade via the Internet. According to Mohammad Abu Zeid, assistant general manager for marketing at the HBTF, the agreement came as part of the bank's policy to encourage electronic trade and e-commerce in the country.  


“The HBTF's policy towards more integration in electronic dealing moves in two directions, providing products such as mobile banking and the Internet shopping card, and providing electronic channels for communication between businessmen in Jordan and the rest of the world,” said Abu Zeid.  


He added that this agreement aimed to create channels that link the Jordanian production market with investors and companies worldwide. Abu Zeid explained that the agreement would provide a channel for companies and international trade organizations, along with Jordanian companies and the Jordanian chambers of commerce to display their products and commercial services.  

This would all be presented in the form of a comprehensive Internet website, referred to as a “Mall.”  


Another channel would be the “Marketplace,” an Internet-based market that enables corporations and businessmen to exchange sales offers and close business transactions through the Internet, which according to Abu Zeid would be completely secure. The bank would also provide hosting for payments made during the transactions.  


Abu Zeid also said that the HBTF had future plans to work as a banking mediator with parties making transactions through this marketplace. He said that this would be a “natural step” for the HBTF's Internet banking enterprise. He added that the bank was optimistic about this agreement as Instingo AG was one of the world leading companies in the field of international electronic trade. — ( Jordan Times )  


By Yacoub Abu Ghosh

© 2000 Mena Report (www.menareport.com)

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