Subsidiaries and Affiliates Companies in Jordan_Default
(1)- The Specialised Leasing Company
Establishment, Capital and Board of Directors:
The Housing Bank for Trade and Finance established the Specialised Leasing Company as a private shareholding company on 30/5/2005. Its Paid-up capital is currently 20 Million Jordanian Dinars.
The current Board of Directors consists of the following members:
Dr. Michel MartoChairman
Mr. Omar Malhas Chairman Deputy
Mr. Mohamad Al QaryoutiMember
Mr. Amjad Al-Sayeh (General Director)Member
The Company’s Objectives for Providing Financial Leasing:
·In order to fulfill the Bank’s mission of providing innovative financial services of a high quality keeping in line with the latest developments in banking and financial markets to cater for the clients’ needs.
·Reinforce the various economic activities and encourage expansion and updating operations.
·Develop the concept of financing and providing various alternatives for it.
Definition of Financial Leasing
It is a contractual agreement between the financial leasing company (Lessor) and the client (Lessee) by which the Lessee is entitled to benefit from the leased assets during a specified period of time against periodical installments agreed upon beforehand (leasing installments), provided that the ownership of the leased assets is transferred at the end of the contract’s duration to the lessee automatically, or against an already agreed upon amount with the “option to buy” the leased asset during the contract’s duration.
·The International Financial Center (IFC) was established as full services financial Brokerage Company since the beginning ofthe Amman Stock Exchange (ASE) in 1978
·When established, The IFC’s capital was 25000 Jordanian Dinar (twenty five thousand Jordanian Dinars) and gradually was raised from the realized profits until it became 5000000 Jordanian Dinars (five million Jordanian Dinars) in 2011.
·The IFC isregulated and supervised by Jordan Securities Commission ,’but as the IFC is a subsidiary to The Housing Bank for Trade and Finance(HBTF)’it is subject to HBTF’s policies and procedures which are in compliancewith Central Bankof Jordan regulations.
·The IFC’s board of directors consistsof the following members:
-Dr. Michel Marto, Chairman.
-Mr. Daoud Kishta, vice Chairman.
-Mr. Omar Malhas, Member.
-Mr. Mohammad Qaryouti, Member.
·The company relies on the concept of the Total Quality Management in providing it’s financial services.
·The company has distinguished retail and corporate clients served by a highly experienced and professional team.
Our vision: to become the favorite broker in providing distinguished financial services for retail and corporate customers that meet their needs and exceeds their expectations and which are consistent with the latest developments in financial markets.
Our Core Values: customer’s satisfaction, welfare of employees, reward outstanding performance and teamwork.