Jordan Islamic Bank Information

Jordan Islamic Bank was established in 1978, as a public shareholding limited company to carry out all kinds of banking, financing and investment business operations in compliance with the glorious Islamic Sharia' and in accordance with the provisions of Jordan Islamic Bank's Special Law, which was superseded by one chapter on Islamic banks in the Banks' Law which was in effect as of 2nd August, 2000. The Bank's first branch commenced its business on 22/9/1979, with a paid up capital of about JD (2) million from its authorized capital that reached JD (4) million. The Bank's capital will be increased to JD(150) million instead of JD (125) million (which is equivalent to about US$211.57 million) after the approval has been issued by Board of commissioners of Financial Security Commission and the bank's finalizing all procedures for the inclusion of capital increase shares by JD 25 million/ share. They will be distributed as free shares to shareholders each according to his/ her portion in the bank's capital at the end of day 10/6/2014 through capitalizing JD 15 million from voluntary reserves and JD 10 million from retained profits. In the 1st of July ,2010,the bank changed its logo and launched its new corporate identity in order to be unified with the subsidiaries of AlBaraka banking group. The Bank offers its banking, financing and investment services through its (70) branches and (15) cash offices in the different locations in the country, as well as through the Bonded office. The Bank also presents services through (146) ATMs all over the country. The Bank's staff reached about (2000) employees who have sufficient knowledge and experience to provide Islamic banking services. The number of the clients' accounts performing in the Bank reached about (629.4) thousand accounts. The Bank was able to grow rapidly and enhance its position among Jordanian banks, As it presents banking and investment services to the clients in conformity with the Islamic Rules of Sharia' which has a special method of Islamic economy and adopts a vision of money function different from that of conventional banks.