Islamic International Arab Bank (IIAB) is a Public Shareholding Company established in Amman, Jordan on March 30, 1997.
IIAB provides the most innovative and creative Sharia compliant financial solutions targeting Retail, SME, and Corporate customers through a large number of branches and an ATMs network distributed strategically in all Governorates of Jordan. IIAB believes in the essential role of Islamic Banking for sustainable development of the economy and society by providing comprehensive Sharia compliant financial solutions and focusing on active CSR which supports decreasing poverty and unemployment rates in the country. IIAB provides a variety of Sharia compliant products that are designed carefully to meet its customers’ expectations and beyond. Banking with IIAB can be done either through its branches, ATMs, online banking and/or Arabi Islami customer service center.
IIAB deeply understands the importance of retail banking. Therefore, the retail financing products are designed to fulfill retail customer’s needs at a very competitive price with easy and fast processing time for approval. IIAB’s real estate financing products provide multi-purpose solutions to customers’ who desire to buy, construct, or renovate their dream house. Auto financing products are designed for customers who are looking for a quick and easy way to buy a car. Personal financing products are carefully designed to satisfy customers’ needs either for education, medical treatment, home appliances or furniture. Last, but not least, IIAB is the first Islamic bank in Jordan to introduce a Sharia compliant Credit Card, which allows customers to repay the utilized amount in installments with no profit or any other hidden charges (Qard Hasan).
Corporate Banking provides the broadest solutions designed to respond to large and commercial corporate needs. Furthermore, IIAB is proud to be the first Islamic Bank in Jordan to launch a fully Sharia compliant financing product named “Ibda’a”, which was founded by IIAB, Jordan Loan Guarantee Corp. and the Central Bank of Jordan. The product caters to the SMEs sector in Jordan, believing in their important role in leveraging the local economy and increasing employment rate. IIAB was able to access low rate financing schemes from the World Bank and Arab Fund, through the Central Bank of Jordan, to encourage this sector to grow.
IIAB believes in green energy. The bank has worked on a joint initiative with the Ministry of Energy and Mineral Resources of Jordan for a new, subsidized financing scheme that is Sharia compliant targeting Renewable Energy and Energy Efficiency projects for households, SMEs and Corporates.
IIAB’s Financial Institutions and Correspondent Banking develops and actively maintains relationships with other financial institutions, governments (Central Banks) and their related agencies in different markets. The relationships are built around cooperation in the areas of direct financing, correspondent banking and inter-bank activities. IIAB’s treasury services are extended from simple money exchange services to a full package of treasury services including issuing Sukuk, managing them and being a trustee.
IIAB is preserving the confidence of customers and safeguarding their funds securely realizing their path to abundant Halal profits in accordance with Sharia law.