Jordan Islamic Bank was established in 1978, as a public shareholding limited company. The first branch began its work on 22/9/1979. The bank strives to keep pace with progress, utilize modern banking technologies and provide the best Islamic products and services with clarity and transparency.
Transactions and contracts are subject to the supervision of a Sharia Board composed of four specialized Shari’a scholars. Banking operations are regulated by the Central Bank of Jordan. JIB is working to deepen and develop the principles of corporate governance, develop risk management and continue to apply the requirements of Basel III.
Through its 107 branches and offices in the different locations in the country, as well as through the Bonded office, JIB aims to meet the economic and social needs of citizens in the fields of banking, finance and investment in accordance with the principles of Islamic Sharia. The bank also presents services through 236 ATMs; provides banking phone service (Mobile Banking); “I-Banking” and SMS with 3D Secure Shopping and the ability to pay bills through the internet (using E-Fawateercom). Today, the number of employees in the bank is 2436.
JIB has received many international awards, credit ratings, and has been recognized by several bodies, institutions and magazines; in addition to international rating agencies, including Standard & Poor’s, Fitch, Capital Intelligence, and Islamic International Rating Agency (IIRA). The bank has won many awards as the best Islamic bank in Jordan and the best Islamic finance institution for several years from World Finance, Global Finance, The Banker, EMEA Finance …. etc.
JIB received a letter of appreciation from ISO International for its participation and commitment in Corporate Social Responsibility (CSR) in accordance with ISO 26000. The bank has also obtained the international accreditation certificate (PCI DSS) in Data Security and Electronic payment card data, in the latest version (3.1) of the World Council of Cards (PCI), concerning the application of the highest standards of security and protection information of bank card of all kinds.
The prominent role and successful march for the JIB, in supporting the investment process and economic and social development in Jordan, is characterized by also supporting the important activities of the community and the national economy; which is a great focus of the bank’s financial investments. The JIB’s experience in social responsibility is an example for national institutions and companies to fulfill their duties towards the community by contributing to sustainable development and enhancing financial inclusion; particularly for those with special needs, needy families and the poor. This is achieved through various charitable programs, social, cultural and voluntary activities, donations, including al Qard AlHasan and mutual insurance funds.
JIB was able to keep its share in the Jordanian banking market for 2018. The total assets of the bank to the total assets in other working banks in Jordan reached 9.1%; the total of financing and investment in the bank to the total direct credit facilities in other working banks in Jordan reached about 13.7%; the total balance of saving schemes in the bank to the total clients’ deposits in other working banks in Jordan reached about 12%; JIB ranks first among Jordanian Islamic banks and third among Jordanian banks through assets, deposits, financing and investment, while maintaining an increase in its share in the Jordanian banking market.