Ammon News - AMMONNEWS - Jordanian and Saudi officials on Monday evening signed the memorandum of association for the Saudi-Jordanian Investment Fund Company LTD, which is prospected to launch joint investments estimated at $3 billion.

The memorandum was signed by on behalf of the Jordanian side by Musa Shehadeh, Chairman of the Jordanian Banks Association, representing the Jordanian banks contributing to the company, and Supervisor-General of the Public Investment Fund of Saudi Arabia, Yasser bin Othman Al-Rumayan. Al-Rumayan said the venture will provide financial returns on the long term and will bring benefit to both countries, adding that investment opportunities exist in Jordan's energy and tourism sectors. A group of commercial banks operating in Jordan, including the Arab Bank, Housing Bank for Trade and Finance, Jordan Ahli Bank, Jordan Kuwait Bank, Bank al Etihad, Jordan Bank, Cairo Amman Bank, Jordan Capital Bank, Arab Jordan Investment Bank, Jordan Commercial Bank, Societe Generale Bank Jordan SGBJ, ABC Bank, and Invest Bank, will be shareholders in the company.