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, adequate assets quality, good profitability and liquidity and strong capital ratios. The report issued by Fitch Ratings ( London) indicates that the affirmation of the ratings and the outlook change to stable reflect the stabilization of the operating environment in Jordan which remains challenging due to sluggish growth, the influx of Syrian refugees and the rising government debt trajectory. JIB is considered the largest Islamic bank in Jordan with an 11% share of total banking sector deposits, 56% of the total Islamic banking sector assets and 55% of total Islamic financing at end 3Q 2017. Mr. Musa Shihadeh, CEO, General Manager of JIB  said our bank’s continuation to maintain good credit ratings from Fitch and other agencies asserts the worldwide interest in JIB’s performance and observing its achievements which confirms the bank’s ability to implement its sound strategy to confront different challenges to keep its distinguished banking position.