04.09.2012 - Foursan Group announces investment in Jordan Dubai Islamic Bank
Foursan Group, a leading Middle Eastern private equity firm, has made an investment in Jordan Dubai Islamic Bank , a newly-established Jordanian Islamic bank, becoming the bank's second largest shareholder. Foursan' s investment was made through Foursan Capital Partners I, a recently established private equity fund with $100 million in commitments targeting investment opportunities in the Levant and North Africa. Founded in 2010, Jordan Dubai Islamic Bank is a leading Islamic bank in Jordan with a paid up capital of $141 million and assets of $600 million. Within its first two years of operations, JDIB's branch network grew from one to 12 branches strategically located in Jordan's three largest cities - Amman, Irbid and Zarqa - and the bank's deposits and balance sheet grew in an accelerated manner. (Press Release)