An American company will run first fund in Jordanian dinars
Jordan, Business, 10/23/1997
An American company, "Elegance Capital," which specializes in running investments will run the first investment fund whose dealings will be in the Jordanian dinar with a capital of 20 million dinars.
Abdel Qader Al Duibek, the director of the Jordanian Bank of Housing which announced the public subscriptions in the fund after it was registered in Bahrain, said that the fund will focus its operations in the Jordanian Stock Market. The fund will benefit from the laws of the free economy ratified by the government which aim to encourage the international investment.
The fund's profits were exempted from the taxes and will benefit from the linking agreement which was signed between the stock markets of Manama and Amman. According to the laws which were recently approved by the Jordanian government, subscription in the shares of the fund will be available for all investors.
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