Talal Abu-Ghazaleh Consultants Selected by JICA to Assess the Feasibility of Introducing a Credit Rating System in Jordan

Talal Abu-Ghazaleh & Co. Consulting (TAG-Consult) signed a contract with the Japanese International Cooperation Agency (JICA) - Jordan Office to conduct a consulting study on the feasibility of introducing a credit rating system for the Jordanian financial sector.

The project comes within the framework of the agreement signed by JICA – Jordan Office, with the Jordanian government to develop bond markets that will provide diversity of investment products for investors as well as enable Jordanian companies to raise funds with lower interest rates through the existence of a credit rating system.

The scope of the project includes research on the regulatory environment of credit rating systems in several countries; studying the current financial market practices related to credit rating; examining the localfinancial  system; as well as the local business environment and the adopted accounting standards in the Jordanian and international markets.

An action plan shall be proposed to introduce a credit rating system in Jordan and how to establish local credit rating agencies.

Mr. Samer Abu Rashed, Manager of TAG-Consult/Jordan, said that the selection of TAG- Consult is attributed to its distinguished work and constant efforts to provide the best services, noting that this comes as a result of cooperation with Talal Abu-Ghazaleh Organization (TAG-Org) companies, especially Talal Abu-Ghazaleh Tenders.

He added that TAG-Consult has acquired an outstanding record of success in conducting market studies and research to governments and international financial institutions.