Announcement of IFC Supports Establishment of Jordan Securities Company on August 1, 1979

• lntemational Finance Corporation '1818 H Street. NW Washington. D.C 20433. US.A 202-477-1234 IFC Press Release No. 80/3 Wednesday, August 1, 1979 IFG Supports Establishment of Jordan Securities Company A new financial institution. is being established in Jordan that will under- take a variety of domestic money and capital market activities to fit local needs and opportunities. The company, Jordan Securities Corporation, has an initial capital of approximately US$6.8 million subscribed by five Jordanian public sector finan- • cial institutions, 21 Jordanian private sector institutions, individual Jordanian investors, a Kuwaiti financial institution, and the Inte~national Finance Corporation (IFC), which is investing US$684,000. Jordan Securities' main activities in the capital market area will include the undetwriting, distribution and trading of bonds and stocks. The institution's main role in the money market area will be to trade, both as a broker and as a dealer, various types of short-term debt instruments. The project is part of an effort over the past several years by Jordanian authorities to expand, improve and strengthen the domestic financial market. IFC has supported these efforts by assisting in planning, preparing proposals, advising on technical aspects, and arranging appropriate technical training. • (Any inquiries strictly relating to IFC's participation in this project should be directed to the IFC Information Office, 1818 H Street, N.W., Washington, D.C. 20433, Telephone (202) 477-2032.)