Standard Chartered on Sunday announced plans to sell its Jordanian business to Arab Jordan Investment Bank (AJIB), as the emerging-markets-focused creditor continues plans to exit seven markets in Africa and the Middle East.
The bank has entered into an agreement with AJIB, subject to central bank approval, under which the corporate banking, commercial and institutional banking, consumer credit and private banking activities of the Standard Chartered will be transferred to AJIB.
All Standard Chartered Bank employees in Jordan will transfer to AJIB, the bank said in an emailed statement.
