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Jordan Government Appoints Sharkas as New Central Bank Governor

A general view of the Central Bank of Jordan in downtown Amman, October 12, 2011. REUTERS/Muhammad Hamed
A general view of the Central Bank of Jordan in downtown Amman, October 12, 2011. REUTERS/Muhammad Hamed
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Jordan Government Appoints Sharkas as New Central Bank Governor

A general view of the Central Bank of Jordan in downtown Amman, October 12, 2011. REUTERS/Muhammad Hamed
A general view of the Central Bank of Jordan in downtown Amman, October 12, 2011. REUTERS/Muhammad Hamed

The Jordanian Cabinet on Wednesday appointed Adel Sharkas, a longtime Central Bank of Jordan (CBJ) official, as the new governor succeeding Zyad Fareez, Petra News Agency reported.

Prime Minister Bisher Khasawneh thanked the outgoing CBJ governor for his service and role in "cementing the Kingdom's monetary stability and reforms at critical economic circumstances.”

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Saudi PIF Completes $7 bln Inaugural Murabaha Credit Facility

The Public Investment Fund (PIF) logo
The Public Investment Fund (PIF) logo
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Saudi PIF Completes $7 bln Inaugural Murabaha Credit Facility

The Public Investment Fund (PIF) logo
The Public Investment Fund (PIF) logo

Saudi Arabia's Public Investment Fund (PIF) completed on Monday a $7 billion inaugural murabaha credit facility.
In a statement, PIF said the credit facility is supported by a syndicate of 20 international and regional financial institutions.
PIF head of the Global Capital Finance Division and head of Investment Strategy and Economic Insights Division Fahad AlSaif said: “This inaugural murabaha credit facility demonstrates the flexibility and depth of PIF’s financing strategy and use of diversified funding sources, as we continue to drive transformative investments, globally and in Saudi Arabia”, the Saudi Press Agency reported on Monday.
This financing complements PIF’s successful sukuk issuances over the past two years, the statement added. It also underpins PIF’s strong financial position, as well as its best-practice approach to debt financing.
PIF is rated Aa3 by Moody’s with stable outlook and A+ by Fitch with stable outlook. PIF has four main sources of funding: capital injections from government, government asset transfers, retained earnings from investments, and loans and debt instruments.