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Capital Intelligence affirms JIB’s Ratings on Stable Outlook

Capital Intelligence (CI) , the international credit rating agency, announced that it has affirmed Jordan Islamic Bank’s (JIB) long and short term foreign currency ratings (FCRs) at “BB-” and “B” respectively on a stable outlook in line with the outlook for Jordan’s sovereign FCRs. The support level of “3” is affirmed and the bank’s Financial strength Rating (FSR) is maintained at BBB- on a stable outlook.

Based on the report issued by the agency at the end of December 2016,the rating granted for JIB underscored by the bank’s good asset quality, ample liquidity, good profitability and the bank’s controlling the major share of Islamic banking assets and customer deposits. Jordan Islamic Bank’s Non – Performing Financings (NPFs) ratio remains one of the lowest in the local market, in addition to a noticeable increase in Capital Adequacy Ratio (CAR).

Commenting on these ratings, Mr. Musa Shihadeh, CEO – General Manager of JIB said the bank’s continuation to receive good ratings from worldwide rating agencies is a result of the prepared strategy to make intensive efforts to achieve further prominent accomplishments which confirm the sound credit position of the bank and its successful experience in Islamic banking business.

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