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LH abolishes National Microfinance Bank law
By JT - Apr 04,2022 - Last updated at Apr 04,2022
AMMAN — The Lower House on Monday endorsed a law abolishing the National Microfinance Bank law.
The MPs, during a session chaired by Lower House Speaker Abdulkarim Dughmi, approved abolishing the bank with maintaining a relevant private liability company registered in 2004, the Jordan News Agency, Petra, reported.
The company can continue businesses as per the Companies' Law under the umbrella of the Central Bank of Jordan, where the law now considers it the legal predecessor of the national bank.
The bill aims to remove all shortcomings in the microfinance sector and unify its legal and organisational framework.
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