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Central Bank dissolves Capital Bank board

  • Jordan: Sunday, July 12 - 2009 at 09:11

The Central Bank of Jordan (CBJ) has dissolved Capital Bank's board of directors due to 'administrative mismanagement that contradicted good governance' and appointed an administrative committee, headed by Sharif Fares Sharaf, to manage the bank for six months under the supervision of the CBJ, the Jordan Times has reported. CBJ has also asked the Jordan Securities Commission to suspend trading in Capital Bank shares as of Sunday. The measure is precautionary and temporary to rectify the situation of the bank's administration, the CBJ has said.

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