Mubasher: Islamic International Rating Agency (IIRA) has reaffirmed its shariah quality rating for Jordan Islamic bank (JIB) at “AA” for the seventh year in a row.
The bank complied with Sharia in transactions, financing and governance standards, as well as with transparency in financial reporting and governance, the Agency highlighted.
Rating derives strength from JIB’s evident commitment to Shari’ah compliance, which stems at the helm of the institution and is cultivated across management cadres. Since its inception in 1978, JIB has garnered strong franchise as a Shari’ah compliant financial institution in Jordan. It is the country’s largest Islamic bank and is in majority owned by Albaraka Banking Group (ABG), a prominent Islamic banking franchise. The group has been the pioneer of Islamic finance in many countries including Jordan, said the agency.
