
Introduction
Union Bank is considered one of the leading Banks in providing a variety of financial services and consultations both locally & Internationally.
The bank employs the most qualified and well-trained staff who utilizes the most up-to-date technological resources to provide sophisticated Banking Services efficiently and effectively.
Brief History
During the implementation of the Jordan Development Plans towards the end of the 1970s, lacking from the Jordanian market were the financial instruments necessary to attract private investment to finance development projects. Also missing were financial institutions specialized in capital markets including the issuance and marketing of shares and corporate bonds.
Founding
The Arab Finance Corporation (Jordan), which was later licensed as Union Bank for Savings & Investment, was established to fill this void. AFC (Jordan) was incorporated and registered in the official registry of Jordanian Companies at the Ministry of Industry and Commerce on November 20th, 1978, as a public shareholding company under number “123”. The founding of the company was completed on January 24th, 1979, with paid up Capital of JD 2,125,000 held by Jordanian and other Arab investors.
The Central Bank of Jordan issued its license for the company to operate as a financial Corporation and Money Exchanger. AFC (Jordan) also gained its brokerage and underwriting licenses from the Amman Financial Market at the time, Amman Stock Exchange now.
By 1/7/1991 the company completed all the requirements for its transition to an Investment Bank, under the name of “Union Bank” Throughout the following years, the Bank accomplished a steady and sustainable growth, and as a result of a series of mergers, capitalization and stock issues, the Bank's paid – up capital reached JD. (40,000,000) By the year of 2005.
Mission
Union Bank mission is to contribute to the growth of the local economy through direct and indirect investments of the national resources, in projects that provide a positive contribution to the welfare of the kingdom and to the benefit of its shareholders, employing the most advanced techniques to offer state – of – the – art banking & investment services.
The Bank's sources of income are not limited to the traditional banking interest and commissions income, but rather from trading in stocks, bonds and derivatives as well as from trading in precious metals and foreign exchange. These sources also include commissions on customers` trading in the international capital and money markets as well as storage fees in our bonded warehouses.
The Bank has access to a wide network of reputable correspondent banks worldwide that enable it to provide a variety of competitive international financial services to its clients.
Vision
Union Bank strives to be on the leading edge of technological advancement in Banking & Investment, through its highly qualified team of professional employees.
The bank utilizes up-to-date information systems and communication tools to achieve the following:
Board of Directors
| Mr. Issam Salfiti |
| Chairman of Union Bank |
| Dr. Khaled F. Zantouti |
| Representing SIRT Securities International |
| Mr.Samir Abu Rawi |
| Representing SIRT Securities International |
| Mr.Rauf J. Salfiti |
| Board member |
| Mr. Awni M. Al-Saket |
| Board member |
| Mr.Moh'd Nabil Abdel-Hadi Hammoudeh |
| Board member |
| H.E. Dr.Fayez Tarawneh |
| Representing United Arab Investors |
| Mr.Haitham Khaled Dahleh |
| Representing United Arab Investors |
| Mr.Mohamed Qaryouti |
| Representing United Arab Investors |
| Mr.Basem Salfiti |
| Board member |
| Mrs. Majd Al Shweiki |
| Representing Social Security |
Key Management
| Chairman | Mr. Isam Salfiti | |
| General Manager | Mrs. Nadia Al Saeed | |
| Corporate Banking | Mr. Mohammad Hatamleh | |
| Finance | Mr. Abdalla Kishek | |
| Administration | Mr. Nabeel Ramadan | |
| Opertaions & IT | Dr. Nasser Khraishi | |
| Retail Banking | Mr. Anton Lolas | |
| Risk & Credit | Mrs. Dima Akel | |
| Human Resources | Mr. Arar Al Mouselli | |
| Treasury & Investments | Mr. Hanna Khoury | |
| Audit | Mr. Bashar Ababneh | |