JIB and Agricultural Engineers Association Sign a Cooperation Agreement

Jordan Islamic Bank (JIB) and the Jordanian Agricultural Engineers Association have renewed their joint cooperation agreement signed in April 2007. Based on the agreement, the bank provides Islamic banking services and financings to members of the association for the purposes of possessing houses or purchasing cars and other purposes at competitive prices and convenient conditions in accordance with Islamic Shari'a principles. The agreement was signed by Mr. Musa Shihadeh, General Manager of JIB, on behalf of the bank and by the Agricultural Engineer Abdulhadi Al-Falahat, Head of the Agricultural Engineers Association on behalf of the Association, in the presence of Deputy and Assistant General Manager of the Bank, Executive Management and members of the Association in the head office of the bank on 18/3/2019. On this occasion, Mr. Musa Shihadeh said, "In recognition of the pioneering role of our bank in supporting the national economy and carrying out its social responsibilities by maintaining contact with civil society organizations, the bank signed this agreement as an extension of the financing offers provided by our bank to the members of the association and to enhance the sustainable partnership with the association to match the developments introduced by the bank on its financial, investment and electronic services, which allows the members to benefit from them. He commended the efforts of the association in strengthening its relationship with its members and its efforts to provide the best services for them”. For his part, Eng. Abdul Hadi Al-Falahat expressed his pride in the partnership with Jordan Islamic Bank, which has been able to prove with all due respect its ability to adapt in supporting the national economy and the local community. He added that the partnership with the bank has been renewed with the signing of this agreement, which meets the aspirations and needs of agricultural engineers, calling on members of the association to benefit from them. The agreement includes granting members of the Agricultural Engineers Association financings by the modes of leasing ending in ownership for the purchase of housing and lands , Murabaha sale for purchase - orderer for the purchase of furniture, cars, electrical appliances and miscellaneous, apartments, houses, building materials, land, finance engineers for their office equipment and project needs , financing by the mode of Musawamah (for the purchase of furniture, electrical appliances, cellular devices and computers), financing by Ijara Mawsufa Bi Al Dhimmah as Labbayk product for the financing of Hajj and Umrah trips ,Iqra’a product to finance tuition fees in schools and universities and Shefa’a product for medical treatments and tourism product, in addition to financing in the form of Istisna’a (construction) with competitive return , the involvement of financiers in the Mutual  Insurance Fund and the renewal of the ceiling of the good loan (AlQard AlHasan) granted to members of the association in cooperation with the bank. The agreement also allows the use of electronic services provided by the bank, which facilitates the transactions such as debit cards and credit cards for use in cash withdrawals, purchases and shopping online through the Internet and mobile banking services, E- Fawateercom , I-BANKING and SMS service.