Capital Bank of Jordan primary dealer for Commercial Paper program

Notes and media contacts

Capital Bank of Jordan "CAPITAL" (formerly Export & Finance Bank) is now operating under its new name to leverage the strength of its identity as a commercial bank providing a wide range of financial services. A campaign introducing the new corporate identity and logo will soon be launched. CAPITAL will continue to be the leading provider of comprehensive commercial and investment banking services to individuals and companies. The Bank is an active player in the retail banking market; offering a large spectrum of services including home loans, car loans, personal loans, land loans, boat loans, as well as other consumer product loans. CAPITAL has opened 3 new branches last year in Wehdat, Zarqa and in Irbid; 4 others are to be inaugurated before the end of the year.

MECE has emerged as the largest manufacturer of electric and electronic home appliances in Jordan, controlling more than 75% market share of the local electrical and electronic home appliances market. Today, MECE exports to Syria, Lebanon, Iraq, Palestine, Egypt, Morocco, Libya and Sudan, and has entered into numerous joint venture agreements and partnerships with leading international manufacturing corporations. In 2005, MECE's total sales increased by 44% reaching JOD 101.4 million compared to JOD 70.2 million a year earlier, and a net income of JOD 22 million, a rise of 298%, compared to the previous financial year.

Commercial Paper is a negotiable unsecured short-term promissory note issued by a corporation or bank to finance its short-term credit needs. Maturities typically range from 90 to 270 days. Commercial Paper is available in a wide range of denominations. It can be either discounted or interest bearing, and usually has a limited or nonexistent secondary market. Commercial Paper is usually issued by companies with high credit ratings, meaning that the investment is almost always relatively low risk.