Global Expects Suspension Decision for its Operation in Jordan to be Cancelled Next Sunday
Kuwait- 13/02/2009- Global Investment House (Global) announced today that the Jordan Securities Commission’s suspension of Global-Jordan’s operations yesterday is temporary.
The decision was based on the request of Jordan’s Housing Bank for Trade and Finance (HBTF) to take precautionary measures by seizing Global-Jordan’s deposits due to the loan that Global-Jordan owes to HBTF. The loan does not exceed USD13 million.
Global-Jordan and HBTF have previously reached an agreement after which the bank requested today from the respective authorities to lift the seize on Global-Jordan’s deposits.
Based on this fact, Global addressed the Jordan Securities Commission and hopes to cancel the suspension next Sunday based on the court’s decision to lift the seize.
It is worth mentioning that Global offers an array of investment services such as asset management, investment banking and brokerage in Jordan in addition to research reports. Global-Jordan recorded many achievements since its establishment.