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Ammon News - AMMAN - As part of its commitment to supporting culture and arts in the Kingdom, Bank al Etihad announced its sponsorship of Amman Citadel Festival 2013. Taking place at the Citadel in Jabal Al Qala’a, the Festival commenced its activities on 20th August and will continue until 14th September, 2013.

Bank al Etihad is sponsoring the Amman Citadel Festival 2013, which will feature performances by renowned Jordanian, Arab and international artists and musicians, because of its belief in the importance of supporting initiatives and activities that focus on promoting Jordan’s a rich cultural and historic heritage. The sponsorship falls under Bank al Etihad’s corporate social responsibility program, which is a defining element in its corporate identity.

Bank al Etihad has sponsored a number of events organized by Friends of Jordan Festivals including the 2010 Jordan Festival, and the world-renowned Cirque de Soleil and Cirque de Glace shows. It is an ardent supporter and strategic partner of Friends of Jordan Festivals because of the active role they play in promoting culture and arts in the Kingdom.

About Bank al Etihad

Bank al Etihad, previously known as Union Bank, is a Jordan-based financial and banking services institution, established in 1978 as a public shareholding company. The Bank boasts a paid up capital of JD 110 million as of mid-2013, total shareholder’s equity of JD 239 million and a capital adequacy ratio of 15.5%.

Bank al Etihad operates a growing network of 34 branches which is expected to grow to encompass 36 branches by end-of-year 2013, a central exchange unit, in addition to one branch in Ramallah - Palestine. Bank al Etihad also fully owns a brokerage firm “Etihad Brokerage” which was established in 2006.

Bank al Etihad financed a number of vital infrastructure projects that hold long-term benefits to the Kingdom and its citizens in the electricity, energy, renewable energy, higher education, tourism, water desalination and water treatment sectors. It also offers a variety of products and services that serve corporate clients, SMEs and targeted segments of retail. The Bank also provides Treasury and Investment services.