Fitch affirms its Rating of JIB at BB-

Fitch Ratings has affirmed Jordan Islamic Bank’s (JIB) long -term foreign currency issuer default ratings (IDR) at” BB-“ and revised the outlook to stable, short term (IDR) affirmed at  “B” ,viability rating at “bb-“, support rating at “4” and support rating Floor “B+”. The rating is an assertion of the bank’s solid and diversified deposit base, while maintaining the quality of flexible assets, profitability, liquidity and strong financing. The report issued by Fitch Ratings "London" on 10/2/2020 that the affirmation of the ratings and the outlook is stable comes despite the operating environment in Jordan, which still suffers from economic and regional conditions in the surrounding environment, in addition to various local challenges, while Jordan Islamic Bank is still considered the largest Islamic bank in Jordan, and its share of the total financing in the Islamic banking sector in Jordan has reached to about 53.8% and its share reached 52% of the total assets of the Islamic banking sector until the end of 2018. It is also the third largest bank among the Jordanian-banking sector, with its share of deposits amounting to 9.1% of the total deposits of the Jordanian-banking sector, and the bank’s share of 12.7% from total financing in the Jordanian-banking sector at the end of 2018. On this occasion, Dr. Hussein Said, CEO / General Manager of JIB expressed his pride in the continuation of Fitch Ratings' installation for JIB, which confirms the bank’s ability to distinguish between the Jordanian and Islamic banking sector and highlight its role in supporting the national economy, and the success of its strategy in continuing to achieve more success, stressing that more efforts will be continued to maintain excellence continuously.