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. Last Updated: 07/27/2016

ordon Eases Controls

AMMAN () -- Jordan's Central Bank Governor Ziyad Fariz announced Wednesday a major easing of controls on foreign currency deposits that should allow banks to invest more than $700 million in international capital markets.

He said the bank was slashing reserve requirements on foreign currency deposits, and also removing a ceiling on foreign-currency accounts held by Jordanians.

The paper quoted central bank sources as saying that the proposed merger would create the largest bank in the region, but it would be necessary to delay its full privatization for three to five years until effects of the merger are analyzed.