Musa Shihadeh

#Jordan Islamic Bank is focusing on inclusivity to drive prosperity in the country

Between 2014 and 2017, Jordan has made significant progress in terms of financial inclusion. According to the latest World Bank report, 42.5% of adults in Jordan now have a bank account, a remarkable increase from the 24.6% seen in 2014. Raising this percentage even further is one of the key pillars of Jordan Islamic Bank’s (JIB) future growth plan. According to Musa Shihadeh, CEO and General Manager of JIB, the bank is specifically targeting young people, women and SMEs to improve financial inclusion. Between its financial inclusion efforts and sustainability initiatives, the organisation is keen to become a leader in social responsibility. JIB developed a relationship with Jordan’s major trade unions, which represent engineers, doctors, nurses, pharmacists and agricultural engineers, to help spread information about the bank’s financial products.

Jordan Islamic Bank Co PLC : Musa Shihadeh receives the award of wise leadership from Tatweej Academy

Tatweej Academy for Excellence Awards and the Arab Organization for Social Responsibility have granted Mr. Musa Shihadeh, Vice Chairman, General Manager of Jordan Islamic Bank (JIB) a red sash and gold medal of Distinguished and a Certificate of Excellence in the field of wise leadership. This ceremony honors Shihadeh in appreciation of his distinguished efforts in settling islamic banking rules in Jordan, and possessing leadership and management characteristics. The ceremony was held in Dubai with the participation and attendance of institutions and management figures who were honored for the achievements and initiatives.

Jordan Islamic Bank Co PLC : JIB and Hajj Fund sign an agreement of issuance Hajj Sukuk

Jordan Islamic Bank (JIB) and Ministry of Religious Endowments / Hajj fund have signed the agreement of issuance Hajj Sukuk for citizens who are interested in participating in the fund through Jordan Islamic Bank. Citizens can subscribe in Hajj Sukuk as a tool for saving and investment that complies with Sharia principles. Underwriting can be done through all JIB's branches and offices.

New opportunities on horizon for JIB

From being a small and unimportant Islamic bank established in 1978 and under the loyal and unbroken stewardship of the seasoned General Manager Musa Shihadeh, Jordan Islamic Bank (JIB) has, over the last three decades transformed itself into the largest Islamic lender and the third largest domestic bank in Jordan. This is by all standards impressive given that JIB's main competitor in the market is the mighty Arab Bank Group, one of the largest banks in the Middle East and which has its own dedicated Arab International Islamic Bank.
The Ministry of Finance and the Central Bank of Jordan have given the go-ahead for Al-Rajhi Bank in Jordan to explore the possibility of issuing a sukuk. Assuming that the Treasury and the central bank are working on introducing enabling legislation for sukuk origination and listing in Jordan, this would open up new avenues of raising finance and investments for the likes of JIB.

Jordan Islamic Bank well rated and positioned

Arab News reported 28 April about Jordan Islamic Bank (JIB), being one of the oldest establishments along with Dubai Islamic Bank and Kuwait Finance House. Fitch Ratings end March 2008 assigned a 'BB-' foreign currency long-term issuer default rating (IDR) and a 'B' foreign currency short-term IDR to JIB with a long-term stable outlook.

JIB is a subsidiary of the Al-Baraka Banking Group (ABG), which is incorporated in Bahrain and is the restructured holding company of the financial services division of Jeddah-based Dallah Al-Baraka Group (DAG) headed by Saleh Kamel.

Musa Shihadeh is the general manager of JIB.


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