S&P Affirms the Credit Ratings of Jordan Islamic bank

  Standard & Poor’s Global Ratings continued to affirm its credit ratings for Jordan Islamic Bank, affirmed its "B+" long-term and "B" short-term counterparty credit ratings on JIB and a stable outlook (stable), also assessed JIB’s Stand – Alone Credit Profile (SACP) at "BB-". The report issued by the agency, which is located in Paris, indicated that Jordan Islamic Bank enjoys stable financial performance despite the difficult economic conditions in light of the Corona pandemic and its negative effects, which the agency takes into consideration when granting its ratings and adjusts them according to the stressful conditions and economic contraction on Jordan. According to the agency, JIB was able to maintain its advanced market share and its leading position as the largest Islamic financial institution in Jordan and the country’s fourth – largest bank, in terms of assets, with stable capital, a good record in financing, liquidity, achieving profits. In addition to a wide and varied customer base, as well as achieving flexibility in managing its business and diversifying its investments. Moreover, it occupies a leading position in the banking services in Jordan to maintain these ratings granted by the agency based on the international classification methodology adopted by it Dr. Hussein Said, CEO / General Manager of JIB, said that " Re-stabilizing Standard & Poor's rating of our bank's credit ratings despite the negative effects of the spread of the Corona pandemic and its negative effects on various sectors, praise be to God, the bank’s ability and success in managing and how to deal with this pandemic and its reflection on its performance, stressing the continuity of Implementing the bank’s strategy to preserve the achievements made while striving to achieve more, enhance the bank’s position and expand its reach in the Jordanian market".