Standard & Poor's affirms its credit rating for JIB

Standard & Poor's has affirmed the credit rating of Jordan Islamic Bank for long-term “B+” and short-term “B” and SACP at “bb- “with a stable outlook. In a press release issued by Standard & Poor's on 23 June, it indicated that Jordan Islamic Bank demonstrated stable financial performance and strong resilience in facing the economic, political and regional challenges surrounding the region, maintaining its solid position as the largest Islamic bank in Jordan because the bank has strong capital that supports the quality of assets, as the bank’s capital adequacy ratio reached about 23% at the end of 2021, which is higher than the minimum capital adequacy requirements for Jordanian banks, in addition to the bank achieving growth in deposits and diversifying financing and investments in line with the provisions and principles of Islamic Sharia to include various sectors. On this occasion, CEO/General Manager of Jordan Islamic Bank, Dr. Hussein Said, said that Standard & Poor’s ratings for our bank confirm the success of implementing the bank’s strategy in facing various challenges while maintaining growth levels with various indicators to maintain its distinguished banking position that is followed by rating agencies. Stressing the importance of concerted efforts to keep Jordan Islamic Bank enjoying good credit ratings and achieving sustainable growth