“The good financials of the bank achieved till the end of September, 2011 assert the continual success of the bank’s applied strategy and the efforts made to achieve the best results,” Adnan Ahmad Yousif, Chairman of the Board of Directors of Jordan Islamic bank and President and Chief Executive of ABG, said.
“This performance is coincided with the JIB’s winning of the award as being the best Islamic retail bank in the world and the best Islamic financial institution in Jordan for the year 2011 which was granted by Global Finance magazine for the bank’s clear contribution in Islamic finance, meeting customers’ needs and offering services compliant with provisions and principles of Islamic sharia. “
Musa Abdelaziz Shihadeh, Vice Chairman, Chief Executive Officer (CEO) of Jordan Islamic bank said most of the bank’s financial indicators at end of the nine months showed very encouraging upward trends.
“The bank’s assets with managed accounts added to (restricted investment accounts, Muqarada bonds and investment by proxy accounts) reached $4.43 billion as of $4.06 billion at end of 2010, an increase of $358.3 million with a growth of 8.8 % that asserts the bank’s continuation to advance and grow to enhance its status in Jordan banking sector,” he added.
Shihadeh said that facilities granted for customers with facilities granted from managed accounts added to reach $2.571 billion at end of September, 2011 compared to $2.399 billion at end of 2010 with an increase reached about $172 million with growth of 7.2 per cent.
Customers’ deposits with managed accounts reached $4.01 billion compared to $3.65 billion, an increase of $351 million with growth of 9.6 per cent.
Ownership equity reached $281.5 million, capital adequacy ratio (CAR) reached 20.75% according to the standard of Islamic Financial Services Board (IFSB) and legal liquidity ratio reached 158%.
“The bank will continue its mission to deepen the experience of Islamic banking and achieve more accomplishments in profits and global prizes, take the initiative in offering Islamic financial solutions, expand in Islamic banking services, develop modern banking techniques to ensure suitable banking solutions for individuals and corporate and meet the expectations of the bank’s shareholders and clients in order for Jordan Islamic bank to be always in the lead, God willing,” Shihadeh, added.