Valu confirms Jordan entry, dismisses plans to enter two new markets

U Consumer Finance (Valu) confirmed its expansion into Jordan after receiving final approval from the Central Bank of Jordan (CBJ) to operate under a specialized finance license.

The required minimum capital for the license, set by the CBJ, is JOD 5 million (around $7 million), according to a bourse filing.

At the same time, the EGX-listed company denied reports claiming it plans to enter two new markets within the next 30 months.

Meanwhile, Valu continues to study new markets and explore growth opportunities.