National Bank of Abu Dhabi to begin operations in Jordan

National Bank of Abu Dhabi (NBAD) is set to officially inaugurate its first branch in the Hashemite

NBAD - Jordan has already carried out a soft launch recently, following the approval of the Central Bank of Jordan last year and the completion of technical and organizational preparations over the past few weeks. Imad Marar will take over as regional manager of the branch in Jordan. He has over 30 years of banking experience during which he was the deputy regional manager of HSBC in Amman.

NBAD hopes that its presence in Jordan will pave the way for stronger presence in the Levant region, and support its expansion plans which recently saw the opening of a branch in Hong Kong. NBAD is also working on increasing its branch network in Egypt and Oman, and transforming its representative office in Libya to a full branch. Also under consideration is the expansion into countries with strong business growth potential like Malaysia, Lebanon, Morocco, Algeria, Syria and Turkey.

Qamber Ali Al Mulla, senior general manager of international banking division at NBAD, said: "Jordan is an important banking market that enjoys a strategic location in the region as well as on the list of countries we operate in, which stretches from Oman, Kuwait, and Bahrain in the GCC, Egypt and Sudan in Africa, the UK, France and Switzerland in Europe, Hong Kong in the Far East to Washington DC in the US."