Jordan Telecom Group signs memo of understanding with Jordan National Bank

Amman, 18th December 2006

Jordan Telecom Group and the Jordan National Bank signed a cooperation agreement under which the bank provides JT employees with personal banking services and other benefits.  Also under the agreement a joint credit card will be issued carrying both the Group and the Bank's logos in the first such collaboration by the Group.

The agreement was signed by JTG Deputy CEO Francois De Luin and Waqar Khan, the Bank's Deputy CEO and Chief of Personal Banking.  Also present during the signing ceremony were the Bank's Executive Director of Personal Banking George Farraj, Regional Director Rami Tarazi, Project Director, Samah Makhal and from JTG Chief Strategy Officer Philippe Fojaler and Investors Relations Chief Mohamad Khalili.

De Luin described the agreement as an additional step by JTG in its continued efforts to upgrade customers' services and provide a better quality of life for its employees by allowing them the opportunity to enjoy personal loan facilities. 

Khan expressed satisfaction at the agreement, saying it was testimony to the existing good relations between the Bank and JTG.  He said it will provide added value to the Group's employees and customers while, at the same time, reflect the Bank's commitment to offer updated, high quality services.

The credit card can be used by holders to pay their phone bills and purchase a variety of goods at JT and elsewhere.  Customers using the credit card will gain points from each purchase they make, and can then replace the points with discounts or gift items from a wide range of stores and restaurants.