IIRA reaffirms ratings of Jordan Islamic Bank for 2015


03-09-2015 02:01 PM

Ammon News - AMMONNEWS - Ratings assigned to JIB derive strength from the institution’s strong franchise as the largest retail Islamic bank operating in the Hashemite Kingdom of Jordan. The bank’s financial risk profile is also healthy, with strong and improving asset quality indicators, sufficient profitability position, and sizable liquid reserves. Leverage indicators of the institution, although higher vis-à-vis the industry aggregates, are at a comfortable level.

Jordan’s macroeconomic environment, however, remains challenging against the backof regional instability. Any improvement in the country’s economic indicators is likely to enhance growth prospects for the banking sector, and further strengthen the ratings assigned to JIB.

The bank has been proactive in incorporating changes in the code of corporate governance for Islamic banks issued by the Central Bank of Jordan. The composition of the Board vis-à-vis independent directors stands enhanced, with realignment of an independent director’s definition with best practices. Steps are also being taken to upgrade business systems and processes to improve the overall customer service experience.




  • no comments

Notice
All comments are reviewed and posted only if approved.
Ammon News reserves the right to delete any comment at any time, and for any reason, and will not publish any comment containing offense or deviating from the subject at hand, or to include the names of any personalities or to stir up sectarian, sectarian or racial strife, hoping to adhere to a high level of the comments as they express The extent of the progress and culture of Ammon News' visitors, noting that the comments are expressed only by the owners.
name : *
email
show email
comment : *
Verification code : Refresh
write code :