Bank Achievements

Jordan Islamic Bank won the Best Retail Bank Award in Jordan for the year 2022 from MENA Banking Excellence Awards 2022, at a special ceremony to announce the award-winning institutions on 23/6/2022, organized by Middle East Business Intelligence in the Middle East, which specializes in the follow-up and comprehensive analysis of the Middle East markets, based in Dubai, in partnership with the Retail Banker International and Private Banker International, which includes specialists and researchers in data analysis and business in the banking market, based on in-depth studies on Jordan Islamic Bank and its contribution to providing retail services.

The British (World Finance) magazine continued to award Jordan Islamic Bank its prestigious international awards, where the bank won four awards for the year 2022 as the best Islamic bank in Jordan, the best banking group in Jordan, the best corporate governance award, Business Leadership & Outstanding Contribution to Islamic Finance for Mr. Musa Shihadeh, Chairman of the Board of Directors of Jordan Islamic Bank, in its report on the best-performing financial and banking institutions in their countries, which deserved to win awards, as the magazine is one of the most important international magazines specialized in following up distinguished institutions and highlighting their successes, as Jordan Islamic Bank has previously won various types of magazine awards for many times. According to the report issued by the magazine, the continuation of granting Jordan Islamic Bank awards was based on several factors, including continuous growth and development in various indicators, performance, excellence in digital transformation, expansion of innovation, providing financing and investment products that are compatible with the provisions and principles of Islamic Sharia, and following the best ways to comprehensively implement technological solutions. While adhering to the standards of sustainable growth and inclusiveness in various activities. Jordan Islamic Bank was able to implement the best practices of governance, including strong leadership, flexible risk management, strong financing facilities, and a strong relationship with shareholders, customers and employees, despite the consequences of Corona pandemic and the state of uncertainty and turmoil that affected environmental and social governance practices and sustainability.

The British magazine "The Banker", issued by the Financial Times Group, that specializes in banking and investment at the international level, announced for the ninth time that Jordan Islamic Bank won the award for the best Islamic bank in Jordan for the year 2022, as part of its awards granted annually to distinguished Islamic banks at the level of each country. In recognition of its efforts and excellence. According to the report issued by the magazine during the current June, and based on the jury that responsible for announcing the awards, Jordan Islamic Bank is one of the most prominent Islamic banks in the Middle East, as it was able to continue winning the award for the best Islamic bank in Jordan for the year 2022 for its excellence and the good results it achieved in financial performance and product innovation despite various challenges, the bank’s profits grew at the end of 2021 by 13.3% to reach about $83.3 million, and facilities granted to customers increased by 10.7% to reach about $6.7 billion, and deposits increased by 10%, and the bank was distinguished by launching many products which aims to improve the financial inclusion of its customers, such as launching a “Musawamah” card product, the blind card, a rewards program for users of banking cards of all kinds (Visa and MasterCard), and marketing campaigns for users of the bank’s channels on mobile and the Internet to pay bills and e-shopping, as well as provide financing products and services at preferential prices for military retirees. With a memorandum of understanding with the Military Credit Fund in Jordan with a growth in the network of branches and ATMs and provide contactless banking cards that comply with the provisions and principles of Islamic sharia.

Global Finance magazine announced that Jordan Islamic continues to win the award for the best Islamic financial institution in Jordan for the year 2022 for the 14th consecutive time, in its report issued on 28/5/2022 on its annual awards for the best Islamic financial institutions in the world for the year 2022, highlighting for its achievements in contributing to the growth and development of Islamic finance in addition to growth in assets, profitability, business development and innovation in products and services. Emphasizing the importance of Islamic banks' orientation towards digital and technological investments, which contributed to reducing operating expenses and supported efforts in facing many challenges that swept the world, including the global epidemic and its consequences and the effects of oil prices, so that the net profits of Islamic banks rose to more than 50% in 2021. In addition, these banks assume their social responsibilities towards various environmental factors. The report indicated that Jordan Islamic Bank won this award for achieving growth and rise in its various financial indicators, as its balance sheet grew to $7.5 billion in 2021, and the net profit, deposits and financing increased by more than 10% in 2021, and the bank worked to meet the needs of its clients by providing a wide range of banking products that are compatible with the provisions and principles of Islamic Sharia, and the expansion of the provision of digital banking services that keep pace with the latest technological developments.

Jordan Islamic Bank won the Best Islamic Bank award in Jordan for the year 2021 from the Banking Executive magazine, issued by WUAB " World Union of Arab Bankers", during the celebration of the Banking Excellence and achievement awards for the year 2021, which is held annually by the magazine for the seventh year consecutively, and in conjunction with the celebration of the fifteenth anniversary of the founding of the World Union of Arab Bankers, in the presence of more than 200 distinguished Arab banking personalities in the world of business and finance and Arab banking institutions , which was held in Beirut on 10/12/2021. According to the press release of the World Union of Arab Bankers Awards ceremony, awarding the award to Jordan Islamic Bank came in appreciation of the bank’s efforts to maintain good financial performance levels in 2021, despite the consequences of the Covid-19 pandemic on the Arab and global economies, and for the wise and rational leadership in managing this Islamic banking edifice, which is a clear indication that the planned approach of Jordan Islamic Bank is on the right track in the field of banking services directed to individuals and institutions likewise, and this award has special importance as it is subject to a jury. It is worth noting that Jordan Islamic Bank has previously won several awards from the magazine, including the award for the strongest Arab bank in Islamic banking for 2015, the strongest Islamic bank in Jordan in 2017, and the best brand for Islamic bank in Jordan in 2020.

The Malaysian “Islamic Finance News” magazine “IFN” awarded Jordan Islamic Bank the award for the best Islamic bank in Jordan for the year 2021, during a special ceremony held in Dubai to hand out awards to the winning institutions, which the magazine gives annually in honor of the best financial institutions that provide Islamic financial services on state and region level. Jordan Islamic Bank continued to win this award and ranked first based on the comprehensive annual poll conducted by the magazine through direct voting for the magazine’s readers from investors, financial intermediaries, businessmen and experts in the Islamic banking sector, and from various sectors to choose the best banks in their countries based on the record of the achieved successes, which were applied to Jordan Islamic Bank to distinguish its services and products. The awards of Islamic Finance News magazine “IFN” are subject to strict criteria when voting, and institutions and banks cannot participate in the awards to vote for them, but are subject to the opinion of impartial bodies. Therefore, these awards are considered among the most transparent and competitive global awards, and the magazine is one of the most important international magazines specialized in the Islamic banking sector.

Jordan Islamic Bank won the award for the strongest Islamic retail bank in Jordan for the year 2021 and for the fourth time within the Islamic Retail Banking Awards (IRBA) in its seventh edition, awarded by “Cambridge IFA” institution based in “Britain”, during the awards ceremony that was held in Dubai. The selection of Jordan Islamic Bank came in appreciation of the achievements and the active contribution to serving individuals and institutions in the financial sector and excellence in Islamic retail banking services, based on a study conducted by “Cambridge IFA”, which is a research institution specialized in providing strategic advice in the field of financial services and conducting research Professional Academy for Financial Institutions. The awarding of these awards to distinguished Islamic banking institutions in these services is based on the evaluation of a jury of independent experts, and a tight academic analysis, and based on the competency model developed by the institution to perform the efficiency of global Islamic banking services. It is worth noting that Jordan Islamic Bank has won many awards from the Cambridge IF Analytica since 2015 " as the best Islamic Retail Bank award in Jordan and the Strongest Islamic Retail Bank award in Jordan for the year 2016 and Islamic Finance Leadership Award for His Excellency Mr. Musa Shihadeh Chief Executive Officer - Former General Manager of Jordan Islamic Bank, and the two awards for Strongest and Best Innovative Islamic Bank for Retail Services in Jordan for the year 2019, and the strongest Islamic retail bank in Jordan for the year 2020.

Jordan Islamic Bank won in the Excellence Award in the field of social responsibility for financial institutions and Islamic banks (commitment) for the year 2020 for Islamic banking sector in the Arab region, by the regional network of social responsibility, a member of the United Nations Program for the Global Compact, for the distinguished role of the bank towards society and its promotion of responsible practices and achieving sustainable development in the field of green banking and reflecting it on the work environment.

EMEA Finance continued to grant JIB "Best Islamic Bank award" in Jordan for 2019 for the seventh year consecutive in appreciation of the Bank’s distinguished achievements in Islamic banking in Jordan in terms of performance in investment banking services, governance, asset management and services Finance for individuals. EMEA Finance magazine, based in London, which is concerned in the appreciation of the leading Islamic financial institutions that pioneering at the level of countries in Europe and the Middle East and Africa that is distinguished for its performance in terms of investment banking services, governance, asset management and financial services for individuals. JIB has previously obtained on the awards from the same magazine that are best Islamic bank in the Middle East for the year 2015 and the award for social responsibility in the Middle East in 2014.

فاز البنك الإسلامي الأردني بجائزة المصرف الإسلامي الأفضل اداءً للشرق الأوسط لعام 2019 من المؤتمر العالمي للمصارف الإسلامية(WIBC) في دورته السادسة والعشرين في البحرين،وتعتبر جوائز المؤتمر العالمي للمصارف الإسلامية للأداء 2019 (ليدر بورد) اداة تقييم شاملة بمثابة معيار مبتكر وهي تساعد المؤسسات المالية الإسلامية على قياس وتقييم أدائها بالمقارنة مع منافسيها الرئيسيين وتسلط الضوء على المتميزين في القطاع المالي والمصرفي الإسلامي من خلال اختيار الفائزين بالجوائز بناءً على درجات الأداء الإجمالية الخاصة بها مقابل مقاييس متعددة على المستوى العالمي والإقليمي وتعتمد على ثلاثة مقاييس: الاستقرار المالي والأداء المالي والحوكمة والمسؤولية الاجتماعية، و المؤسسات المالية الإسلامية الحاصلة على الجوائز حققت الدرجة الإجمالية على الصعيدين المحلي والعالمي. كما فاز البنك الإسلامي الأردني بجوائز المؤتمر العالمي للمصارف الإسلامية لعام 2018 " المصرف الإسلامي الأفضل اداءً على المستوى الإقليمي / المشرق العربي وفي عام 2015 فاز بجائزتي أفضل أداء لبنك إسلامي على مستوى الدولة - الأردن وأفضل أداء لبنك إسلامي على مستوى منطقة بلاد الشام Performance – Levant) Best Regional) تقديرا لأداء وانجازات البنك المتميزة على الصعيدين.

Jordan Islamic bank won the Golden Shields Award for the 2019 Websites From the Academy of Excellence Awards in the Arab Region, which is seat in Dubai - Which is the body to award scientific prizes in the Arab region, After Jordan Islamic bank obtained the highest rating of the category of banks and financial institutions in Jordan for the year 2019. The Excellence Awards aim to highlight the importance of websites and smart applications and social networking pages of many public and private sector institutions and the banks at the level of the Arab region and after the establishment of a team of experts and referees known to evaluate and vote.

Jordan Islamic Bank received the 2019 Excellence Award for Economic and Social Initiatives/ Economic Programs Category from Excellence Awards Academy in the Arab Region, which is specialized in consulting and management of excellence awards in the Arab region in cooperation with the Training, Research and Studies Center - the Arab Economic Unity Council /Arab Joint Action Organization. The Excellence Award for Social Initiatives aims to highlight the efforts being made to launch programs that reflect the society's economic and social needs. It includes as well economic, environmental, social, health, educational, rehabilitation and social awareness programs that contribute to the promotion of community action through best practices in the field of social responsibility.

Mr. Musa Shihadeh, General Manager of Jordan Islamic Bank (JIB) was awarded Islamic Finance Personality of the year 2018 at the 8th Global Islamic Finance Awards for his outstanding leadership role in Islamic banking during a ceremony held under the patronage of the Chairman of Presidency of Bosnia and Herzegovina, His Excellency Bakir Izetbegović and with the presence of government leaders, senior officials and Islamic banking leaders around the world. GIFA, which is an annual event launched since 2011, is one of the most important international awards in the Islamic financial industry, and is awarded to outstanding institutions and individuals in this field. The core objective of GIFA is to instill a culture of social responsibility, promote business alignment with Islamic Sharia, and commit to promoting the growth of Islamic finance and banking. Award winners will be selected following detailed independent research and extensive discussions to study the results objectively and accurately by an expert jury. The Global Islamic Finance Awards are based on an objective methodology with a registered ownership of Edbiz Consulting, to celebrate successful individuals and institutions in the Islamic financial services industry.

Jordan Islamic Bank has reaped the award of Best Arab Islamic Bank and Best Arab CEO to Mr. .Musa Shihadeh , CEO , GM of JIB among the strongest 100 CEO in the Arab region for 2017 during Arab Best Award ceremony which was convened in Marrakech - Morocco. JIB has received this award in recognition of its efficient achievements and contribution , wise management , its excellence in serving Islamic banking in the Arab region, its distinguished position in Jordanian banking market , maintaining steady growth during the past years and its commitment to the provisions and principles of Islamic Sharia.

Union of Arab Banks & Princess Tagreed Foundation for Development & Training granted JIB Excellence award in Islamic banking services in the Arab region and Excellence award in Islamic banking leadership to Mr. Musa Shihadeh, CEO – GM of the bank for 2017 in recognition of the achievements and outstanding contribution of the bank and wise management in serving Islamic banking and enhancing social responsibility.

The Arab Organization for Social Responsibility granted Jordan Islamic Bank (JIB) the prize of social responsibility for Arab and Islamic banks for the second consecutive year in its tenth season which held in Sharm AlShaikh with a participation of administrative and leading figures in the field of social responsibility at the level of Arab region. However, Jordan Islamic Bank has obtained the prize in appreciation of its distinguished efforts and initiatives to crown its achievements in the field of social contributions and for the issuance of an annual social responsibility report in order to motivate others to deal with social responsibly and change it to the strategic concept in the sectors of banks and financial institutions and enhance it through the wise management.

Jordan Islamic Bank has reaped the award of the Financial Institution Committed to Social Responsibility among Islamic banks for 2017 ( Commitment ) from the Regional Network for Social Responsibility, a member of the United Nations Global Compact after a practical review of the bank’s distinguished contributions and achievements in the field of social responsibility within Islamic banks sector in Arab region, as part of the honoring ceremony of the Islamic banks with the greatest impact on the initiatives of social responsibility in the Arab region which was held in Bahrain on 30-31/7/2017.

The strongest Islamic bank in Islamic banking services in Jordan for 2017 from the Banking Executive Magazine issued by the World Union of Arab Bankers in appreciation of the distinguished achievements the bank accomplished in Islamic banking services within Islamic banks sector. The bank received this award previously in 2015.

Jordan Islamic Bank (JIB) has received the PCI Data Security Standard ( PCI DSS) Compliance Certification in its latest version (3.1) from Payments Card Industry (PCI) which is specialized in applying the highest security standards for all information of cardholders for the bank’s systems’ compliance to the latest banking standards to measure the data security of cardholders in cooperation with Control Case, an international company specialized in PCI –DSS compliance, which assessed and audited the bank’s compliance in applying this standard which is accredited by the banks to ensure a high level of data security of cardholders and decided by the Payment Card Industry Security Standards Council and meets the requirements of the Central Bank of Jordan (CBJ).

Certificate of appreciation from the Arab Network for Corporate Social Responsibility- Dubai 2016.

The Arab Organization for Social Responsibility granted Jordan Islamic Bank (JIB) the prize of social responsibility for Arab and Islamic banks for the second consecutive year in its tenth season which held in Sharm AlShaikh with a participation of administrative and leading figures in the field of social responsibility at the level of Arab region. However, Jordan Islamic Bank has obtained the prize in appreciation of its distinguished efforts and initiatives to crown its achievements in the field of social contributions and for the issuance of an annual social responsibility report in order to motivate others to deal with social responsibly and change it to the strategic concept in the sectors of banks and financial institutions and enhance it through the wise management.

Two awards from Al Baraka Banking Group for corporate social responsibility :
- Champion of AlBaraka Goals for the year 2016.
- Best contributor in the education sector of the year 2016.

Tatweej Academy for Excellence Awards granted Mr. Musa Shihadeh Al-Nisr Al-Arabi Award for the general administration for 2016 during a ceremony held in UAE ,Dubai , where 22 prominent leading figures at the level of Arab nation were honored. However, the selection of Mr. Shihadeh for this award is a recognition of his significant role in the business sector for he is a distinguished model of the pioneers of Arab administration in the business sector and its significant institutions and as a result of the accomplishments he achieved in the administration filed through his banking experience in the management of the largest Islamic banking institution in Jordan for more than three decades , the distinguished and efficient contribution in Jordan banking sector in addition to achieve tangible adds to the performance and products, confronting the challenges faced the bank business, sustainability, continuity of growth, efficiency, commitment to the bank’s mission and ambitious vision till the bank reached high levels of success and progress.

Tatweej Academy for Excellence Awards granted JIB the following awards:
A- Best pioneering Islamic bank in Jordan in the field of wise leadership in 2014 for the 2nd year respectively . B- Golden medallion in the field of wise leadership in the level of Arab World for 2014.
C- NIBRAS award as the best Islamic financial institution in the level of Arab world for 2013.
- Islamic Finance News ( Malaysia) named JIB best Islamic bank in Jordan for 2015 2014 , 2012 .
- International Finance Magazine ( London) named JIB best Islamic bank in Jordan for 2014.
- (DNV) Universal Company renewed granting JIB the international Quality Certificate ISO9001:2008 for the   year 2009 in management systems which shows the bank’s good performance in different productive and   managed issues, In addition to the ISO9001-2000 which the bank was granted in 2006.

Jordan Islamic Bank (JIB) received an appreciation letter from the International Organization of Standardizations (ISO) for its uptake and use of ISO 26000 guidance on social responsibility within ( MENA ) region in an assertion of the bank’s distinguished role in the field of social responsibility and its efficient participation in the social responsibility project since 2013 under the supervision of quality experts in Jordan Standards and Metrology Organization (JSMO) and experts in International Organization for Standardization in Sweden.

International Islamic Rating Agency (IIRA) (based in Bahrain) continued to confirm the Shariah quality rating of Jordan Islamic Bank at AA+ (SQ) due to the bank’s commitment to the highest standards of compliance with the principles and provisions of Islamic Sharia in the banking products and services it launches that meet the needs of its customers. This came in the press release issued by the agency on the first of September 2022, where Jordan Islamic Bank is considered a pioneer in Islamic banking in the region and is absolutely committed to the requirements of Shari’a quality, governance, independent stability of the board of directors, gender diversity, and commitment to effective internal controls and methods used to protect the rights of investment account holders within a strong governance framework and strengthening Sharia governance through increased membership and independent supervision of the Bank’s Sharia Supervisory Board and high participation in product development in a way that supports Sharia governance and the Bank’s goal of adhering to the provisions and principles of Islamic Sharia, and the Bank demonstrates a high level of transparency in standards and discloses Material information about financial matters related to governance, including Sharia governance and in line with regulatory requirements, in addition to the bank’s commitment to its distinguished role in the field of social responsibility and sustainability through donations to support charitable work in the community, sustainable use of energy, and development of products and services and initiatives related to sustainable financing, Which supports the bank’s strategy of sustainability, with the bank’s commitment to distributing suitable competitive returns to investment account holders and providing adequate disclosures to stakeholders.

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 2022, 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.

Islamic International Rating Agency (IIRA) (Bahrain-based) continued to reconfirm the credit rating of Jordan Islamic Bank on the international scale with foreign currency at BB+/A3 and the national scale ratings at A+(jo)/A1(jo). Outlook on the assigned ratings is stable; this is due to the bank's distinguished, strong and sustainable role in the continued increase of its share in the banking market and the expansion of granting financing to the retail sector.
The report issued by the agency on 08/18/2021, indicated that Jordan Islamic Bank is one of the leading Islamic banks in the world and the largest Islamic bank in Jordan, and despite the consequences resulting from the spread of Covid-19, the bank was able to maintain its credit ratings for the continuity of Maintaining its market share of Jordanian banking assets, and a strong capital adequacy that reached at the end of 2020 to 23.74%, and achieved a growth in deposits that reached 8.9%, and individual sector deposits represent 87% of the total deposits, in addition to owning a wide network of branches and ATMs that supported the bank's presence close to the retail sector (individuals), with the bank's clear role in progressing towards digital transformation and expansion of mobile banking and internet banking services for corporate and individual customers. The report indicated that despite the effects and consequences of the spread of the Corona pandemic, the bank continued to achieve growth in deposits, finances and investments, and continued to maintain its share in the local banking market in addition to geographical expansion and the possession of a wide network of branches and ATMs, as the bank showed clear progress in digital transformation. Which made it easier for retail customers (individuals) and Small and medium-sized enterprises (SMEs) to benefit from digital services with ease and convenience, in addition to the bank receiving awards from different institutions as the best Islamic bank in Jordan and the best bank in Islamic finance for several years, and the bank clearly applies the principles of Islamic banking in its vision. Its mission, banking transactions and organizational culture enable the bank to manage all its risks in difficult market conditions and in the risk environment which increasing globally.

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.

Capital Intelligence Ratings (CI), the international credit rating agency, has affirmed Jordan Islamic Bank’s (JIB) Long and Short – Term Foreign Currency Ratings (FCRs) at BB- and B respectively with a negative outlook. However, the outlook for JIB is in line with the outlook for Jordan's sovereign FCRs as a result of the challenging operating environment .The support rating remains at "3" and the bank's Financial Strength Rating (FSR) is maintained at BBB- with a negative outlook. The report issued by the agency on 13 December 2018 indicated that the continuation to affirm the credit rating on JIB is supported by the bank’s ability to establish Islamic banking franchise in Jordan and its continuation to control the lion’s share of Islamic banking assets and customer deposits in Jordan despite keen competition over the past years ,the bank's good asset quality, strong and abundant liquidity, sound profitability, a diversified customer deposit base, its continuation to boast one of the lowest NPFs ratios in the local market, in addition to achieve a high Capital Adequacy Ratio (CAR) as of June 2018 .Mr. Musa Shihadeh, General Manager of JIB commended the efforts made by the Bank to maintain good credit ratings despite the continued difficult economic and political conditions surrounding the region and impacted on Jordan's sovereign credit rating. Stressing on leading the same approach to implement the Bank's strategy in facing various challenges to maintain what has been achieved and strive for more achievements.