Jordan Islamic Bank (JIB), the first Islamic bank in Jordan, was established in 1978. In the year 2000, the private law that JIB followed was replaced with a new law that had a certain set of rules regarding Islamic banks.
JIB currently has a network of 56 branches, 12 cash offices, and one bonded office, in addition to working as a broker in Amman Stock Exchange through its subsidiary Sanabel Al-Khair for Financial Investment Company. JIB is served by a total staff of 1685, and it has 74 ATMs connected to 750 ATMs that belong to other banks in Jordan through the Jordan national payment network and the Worldwide Visa International network.
The ratio of total saving portfolios at JIB to the total of the client's deposits in other working banks in Jordan is about 10.3%, the ratio of total financing and investment JIB to the total direct credit facilities in other working banks in Jordan is about 10.9% while the ratio of total assets in JIB to the assets in other working banks in Jordan is 7.3% as at the end of December 31-2008.
JIB provides its banking, investment and financial services in compliance with the rules and principles of Islamic Sharia through Murabaha, Musharaka, Mudaraba, Leasing ending-in-ownership, Installment Sale. And also through investment in real estates through purchasing and developing them for on-sale or lease to its customers.
JIB has a steady track record since its establishment in 1978. The bank has distributed profits over the last10 years equivalent to 186% of the banks capital.129% as free shares and 57% paid as cash dividends.
Mr. Musa Shihadeh Vice Chairman & Chief Executive Officer P.O Box 926225, Amman¡ Jordan Tele: + 9626 567 7377 Fax: + 9626 566 6326 www.jordanislamicbank.com
