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Jordan (/ˈdʒɔrdən/; Arabic: اَلأُرْدُنّ Al-ʾUrdunn), officially the Hashemite Kingdom of Jordan (Arabic: اَلمَمْلَكَة اَلأُرْدُنِيَّة اَلهَاشِمِيَّة al-Mamlakah al-ʾUrdunniyyah al-Hāšimiyyah), is an Arab kingdom in the Middle East, on the East Bank of the River Jordan, and extending into the historic region of Palestine. Jordan borders Saudi Arabia to the south and east, Iraq to the north-east, Syria to the north and Israel to the west, sharing control of the Dead Sea with the latter. The desert kingdom emerged out of the post-World War I division of the Middle East by Britain and France. In 1946, Jordan became an independent sovereign state officially known as the Hashemite Kingdom of Transjordan. After capturing the West Bank area of Cisjordan during the 1948–49 war with Israel, Abdullah I took the title King of Jordan and Palestine, and he officially changed the country's name to the Hashemite Kingdom of Jordan in 1949. Modern Jordan is classified as a country of "medium human development" by the 2011 Human Development Report, and an emerging market with the third freest economy in West Asia and North Africa (32nd freest worldwide). Jordan has an "upper middle income" economy. Jordan has enjoyed "advanced status" with the European Union since December 2010, and it is also a member of the Euro-Mediterranean free trade area. Jordan is a founding member of the Arab League, and the Organisation of Islamic Cooperation (OIC).