Capital Bank Group enters partnership with Codebase Technologies

By Leandra Monteiro

Capital Bank Group, one of the largest banking institutions operating in the Jordanian and Iraqi markets, signed a partnership agreement with Codebase Technologies to launch the first independent digital-only Neobank in Jordan and Iraq. The bank aims to provide integrated digital banking services to individuals and SMEs allowing customers to have complete control over their financial decisions.

Through its presence in Jordan and being a gateway to Iraq, the largest trading partner to Jordan, as well as its existing licenses in both countries, Capital Bank Group is well positioned to create a digital-first offering.

On this occasion, the Chairman of the Board of Directors of Capital Bank Group, Bassem Khalil Al-Salem said, “This partnership with Codebase Technologies aims to strengthen the Group’s competitive position and expand its local and regional reach in both Jordan and Iraq, confirming the Group’s commitment to provide innovative and highly efficient digital end to end banking services to customers.”

Dawod AlGhoul, CEO of Capital Bank stated, “We are excited to be the first bank in Jordan and Iraq to take this critical step towards leapfrogging into the future of banking which is on the road to a complete shift from banking as we know it today. This Neobank with its separate brand and identity is set to be a digital economic accelerator, providing the foundations for a broader generation of digital services.”

Raheel Iqbal, Managing Partner at Codebase Technologies, also commented on the partnership, “We at Codebase Technologies are honoured to have been selected by Capital Bank Group for its digital transformation in Jordan and Iraq. With our experience in successfully launching multiple digital banks in the region, we have proven our dedication to architecting, building, and delivering transformational digital empowerment that transforms the customer experience, streamline operations, and accelerate business growth for our partners. We implement technologies that are driven by innovation, precision, and a dedication to exceptional service quality, making us the premier digital transformation firm to transform banking for Capital Bank Group and its customers.”