Inwan Investment is now Amlak Finance (Jordan)
Amman, July 22, 2008
Inwan Investment has officially changed name to Amlak Finance (Jordan).
The name change was approved at the recently held extraordinary general meeting which was attended by a large number of shareholders.
It was decided to increase the company’s capital by issuing 8 million new shares, of which 5 million shares will be allotted to Amlak Jordan Limited, a wholly owned subsidiary of Amlak Finance PJSC, UAE and the remaining 3 million shares will be allotted to International Finance Corporate (IFC) of World Bank.
The total number of shares will now increase from 55 million shares to 63 million shares.
“The primary activity of the company is offering medium to long-term financing solutions for residential and commercial properties,’ said Mufleh Aqel, chairman of Amlak Finance (Jordan).
Other decisions made at the meeting included increase of board members from 9 to 10 members in addition to amending some articles in the company’s establishment contract and its bylaws.- TradeArabia News Service