How is Jordan Islamic Bank (JIB) different from its peers? What are the competitive advantages keeping the bank ahead of the game?
As one of the oldest Islamic banks in the world, JIB has first-mover advantage, coupled with deep experience and trusted relationships built over the years we have been in the market. Since we came on board in 1978, we have been committed to offering banking and social services – all in compliance with the glorious Shariah – to everybody equally with the main objective of serving the whole community while achieving a balance with the expectations of our stakeholders.
We are proud to be a bank who has gained the trust of our clients; and we take extra pride in the fact that we are serving three generations of clients. We grow with them; and in order to continue growing and succeeding with our clients, we are committed to continuously innovating in order to present the market with new banking products and services – all with the best interest of our clients in mind. For example, JIB is the only bank to offer Qard Hasan financing to the citizens of Jordan to assist them in major life events such as marriages, health treatments and education. The fact that JIB receives about seven to 10 international awards yearly is recognition of our success and continuous growth.
What were some of the highlights for the bank in 2015?
2015 was a year of continued growth for us. We increased our focus on the SME sector last year and we rolled out six new Islamic banking services. It was also a year when we received the highest number of international awards, numbering over 10. These included new awards above the ones we’ve been receiving annually which are a true testament to our strength. In addition to that, we also received recognition by the International Standardization Organization – ISO – for the participation in an ISO project and usage of ISO 26000, an international guideline on social responsibility, which we implemented in MENA.
What are the bank’s priorities and goals for 2016? What are your focus areas?
This year, we will continue to focus on SMEs and at the same time, we are looking at both issuing and participating in Sukuk issuances. Another key focus is to expand our portfolio and market share and we intend to do this by launching new products and services as well as expand our geographical presence through branches and ATMs. We will continue to implement our five-year (2014-18) sustainable strategy for social responsibility and support the local economy and do our part in tackling poverty and unemployment in Jordan.