Three Jordanian Banks Sign a Settlement Agreement with Talabay

Three Jordanian Banks Sign a Settlement Agreement with Talabay

Three Jordanian Banks Sign a Settlement Agreement with the “Jordan Tourism Projects Development Group” to Ensure the Growth of the “Talabay” Project

The agreement aims to support tourism in Aqaba, preserve jobs, and strengthen cooperation between the banking and tourism sectors.

Amman – Three leading Jordanian banks — INVESTBANK, the Jordan Kuwait Bank, and Capital Bank — announced the signing of a final settlement agreement with the Jordan Tourism Projects Development Group, the owner of the “Talabay” project in Aqaba.

Under this agreement, all outstanding debts between the involved parties have been fully settled. This strategic move aims to ensure the continued development of the project and enhance its role as one of the key initiatives supporting the tourism sector in Aqaba.

This step reflects the Jordanian banking sector’s commitment to supporting major tourism investments that play a vital role in stimulating economic growth, creating job opportunities, and reinforcing Aqaba’s position as a leading tourism and investment destination locally and regionally.

The banks expressed appreciation for the pivotal role of regulatory bodies, particularly the Central Bank of Jordan, whose significant support facilitated the negotiation process and ensured the success of the settlement, thereby maintaining financial market stability and safeguarding the interests of all stakeholders.

The “Talabay” project continues to serve as one of the Kingdom’s prominent entertainment and tourism developments. This settlement provides a strong foundation for revitalizing the project’s operations and enhancing its services in a way that boosts visitor flow to Aqaba and supports its vital tourism sector.