Distributing JD 50 million as cash dividends to the shareholders of Jordan Islamic Bank at rate of 25% for the year 2021

General Assembly of Jordan Islamic Bank approved, during its forty-third meeting, the Board of Directors’ recommendation to distribute cash dividends to shareholders at a rate of 25% of the bank’s capital for the year 2021, with a total of JD 50 million. Where the meeting was held by visual and electronic communication, headed by the Chairman of the Board of Directors / Mr. Musa Abdul Aziz Shihadeh, members of the board and CEO / General Manager Dr. Hussein Said and shareholders holding shares (on behalf, by proxy and agency) at a rate of 72.68%, and in the presence of His Excellency Dr. Wael Al Armouti the Companies Controller, on Tuesday 26/4/2022, in accordance with the provisions of Defense Order No. 5 of 2020 issued under the Law Defense No. 13 of 1992 and the procedures issued by His Excellency the Minister of Industry, Trade and Supply on 9/4/2020 and the approval dated 9/2/2022. During the meeting, the General Assembly approved the report of the Board of Directors, the company's business, the profit and loss account for the fiscal year ending 31/12/2021, the company's future plan, and the items listed on the meeting's agenda, PricewaterhouseCoopers (PwC)  office / Jordan was also elected as the bank's auditor. On this occasion, the Chairman of the Bank’s Board of Directors, Mr. Musa Shihadeh, said that during the year 2021, our bank was able to overcome the obstacles, encountered the challenges it faced and achieve more achievements despite the effects of the Corona pandemic with its variants that affected on various economic and social sectors locally and globally, indicating that the combined efforts of all the board of directors, the executive management, the Shariah Supervisory Board, the bank's employees, and the confidence of our clients were the strength that contributed to overcoming the challenges, stressing the continuation to achieve more achievements with thanks to the Central Bank of Jordan in maintaining financial and monetary stability and its support for Islamic banks, He called for mercy and forgiveness for the late, God willing, His Excellency Eng. Raif Najm, a former member of the Board of Directors, who passed away during the year 2021. Shihadeh explained that despite the intense competition in the banking sector, our bank was able to maintain its share of the Jordanian banking market until 31/12/2021, where the bank’s total financing and investment balances from direct credit facilities at other working banks in Jordan amounted to about 15.5%. The total balance of savings schemes of the bank from the total deposits and client accounts at other working banks in Jordan about 13%, the total assets of the bank compared to the total assets of other working banks in Jordan about 9.6%. CEO/General Manager of the bank, Dr. Hussein Said, said that despite the challenges posed by the Corona pandemic in the local banking sector, our bank has worked to implement its strategy based on facing various risks while maintaining its financial and advanced position in the local banking sector, the safety and quality of assets with using modern technologies and systems in support of digital transformation projects as well as upgrading services and products while continuing to perform the social role of our bank and serving the local community, in addition to its conservative policy of allocating financial provision until the end of 2021 in order to meet any future challenges or negative effects from the consequences of the Corona pandemic and other challenges. Dr. Hussein Said indicated that the bank was able to record a rise and growth in various financial indicators as on 31/12/2021, where it achieved net profits before tax of about JD 96.5 million, compared to about JD 83.8 million, with a growth rate of 15.1%, while profits after tax reached about JD 59.1 million, compared to about JD 52.1 million at the end of 2020, with a growth rate of 13.3%, and joint investment revenues increased to about JD 214 million, compared to about JD 200 million at the end of 2020, with a growth rate of 7.1%, and shareholders’ equity amounted to about 7.4% to reach to about JD 510 million, compared to about JD 474 million, and the Capital Adequacy Ratio (CAR) at the end of 2021 was about 23.01%, and the bank maintained the integrity of its credit portfolio and the quality of its assets, as the ratio of Non- Performing Finances (NPFs) reached 2.57% and its coverage ratio was about 115.4%. The bank’s assets, including (specified investment accounts and wakala investment accounts (investment portfolios)), at the end of 2021 amounted to about JD 5.953 billion, compared to about JD 5.427 billion at the end of 2020, with a growth rate of about 9.7%. Dr. Hussein indicated that in confirmation of the great confidence that the bank enjoys from its clients, the balance of savings schemes, including (specified investment accounts and wakala investment accounts (investment portfolios)), have achieved a growth of about 10% to reach about JD 5.283 billion distributed over 1146 thousand active accounts compared to about JD 4.803 billion distributed over about 1080 thousand active accounts. The bank also sought to take into account the diversification and distribution of investments and financing provided to various sectors of individuals and small and medium enterprises, where the growth rate in the total financing and investment balances, including (specified investment accounts and wakala investment accounts (investment portfolios)), reached about 10.7% to reach about JD 4.741 billion distributed to 234.1 thousand transactions, compared to about JD 4.282 billion at the end of 2020, distributed to 231.5 thousand transactions. Dr. Hussein added that the bank has strengthened its geographical presence in various parts of the Kingdom and provided its banking services that are compatible with the provisions and principles of Islamic Sharia by opening a branch in Dhahiyat Prince Hassan / Amman and the office of the World Islamic Science & Education university / Tabarbour, where the bank has 110 branches and offices, and keeps pace with the digital services that Provided by the bank, Islami Digital Self-Service Corner has been opened in Wasfi Al-Tal Street office / Amman to provide a range of digital banking services according to the latest modern technologies. Regarding the bank’s most important achievements during 2021 in the field of banking technologies, Dr. Hussein stated that the bank has implemented more development and modernization processes in various areas of banking technologies and digital transformation, and has continued its plan to expand the provision of services through its electronic channels, including the launch of instant transfer service to local bank accounts (CliQ), and Opening an electronic bank account, Update Information (E-KYC), social security payment service, Electronic Vouchers, and withdrawing money via NFC. The Bank has also been a pioneer in providing digital services to the corporate sector, including bill payment through the “eFAWATEERcom” system, the (ACH) services to transfer salaries, and the direct transfer between the companies’ customers, and Islami rewards program (customer loyalty) as well as providing many digital platforms, Such as LinkedIn, YouTube and Instagram, and new ATMs were updated, installed and operated during 2021 and some services were added to them, bringing their number to 300 ATMs, constituting about 14% of the number of ATMs operating in the Kingdom. He added that the bank is continuing to implement a number of strategic projects, including the banking system transformation, the Finger Vein project, Digital Card, withdrawing money without a card, and depositing checks through ATMs. In addition to introducing new financing products that meet the desires of clients and the needs of the banking market and are in compliance with the provisions and principles of Islamic Sharia