IIRA reaffirms Shari’a Quality Rating of JIB

International Islamic Rating Agency (IIRA) (based in Bahrain) continued to confirm the Shariah quality rating of Jordan Islamic Bank at AA+ (SQ) due to the bank’s commitment to the highest standards of compliance with the principles and provisions of Islamic Sharia in the banking products and services it launches that meet the needs of its customers. This came in the press release issued by the agency on the first of September 2022, where Jordan Islamic Bank is considered a pioneer in Islamic banking in the region and is absolutely committed to the requirements of Shari’a quality, governance, independent stability of the board of directors, gender diversity, and commitment to effective internal controls and methods used to protect the rights of investment account holders within a strong governance framework and strengthening Sharia governance through increased membership and independent supervision of the Bank’s Sharia Supervisory Board and high participation in product development in a way that supports Sharia governance and the Bank’s goal of adhering to the provisions and principles of Islamic Sharia, and the Bank demonstrates a high level of transparency in standards and discloses Material information about financial matters related to governance, including Sharia governance and in line with regulatory requirements, in addition to the bank’s commitment to its distinguished role in the field of social responsibility and sustainability through donations to support charitable work in the community, sustainable use of energy, and development of products and services and initiatives related to sustainable financing, Which supports the bank’s strategy of sustainability, with the bank’s commitment to distributing suitable competitive returns to investment account holders and providing adequate disclosures to stakeholders. Dr. Hussein Said, CEO/General Manager of Jordan Islamic Bank, said that the continuity of the International Islamic Rating Agency's follow-up to the performance of our bank and the continuation of granting it a distinguished rating in the quality of Shari'a is an affirmation of our bank's success in maintaining adherence to the best standards that evaluate performance for the success of Islamic financial institutions in the Shari'a aspect and achieving Its goals of excellence besides excellence in advanced credit ratings, stressing that more efforts should be made to keep Jordan Islamic Bank distinguished in the Islamic banking work.