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Fri 23 Feb 2018 08 Jumada ath-Thaniya 1439H

JIB wins the CIBAFI Award 2017 in Environmental and Social Responsibility

Jordan Islamic Bank (JIB) won the environmental and social Responsibility Award 2017 from General Council for Islamic Banks and Financial Institutions (CIBAFI) at the level of the CIBAFI member institutions ( whose number is more than 120 financial institutions distributed across 32 countries around the world). However, CIBAFI grants the award for the first time  to recognize and honor the best Islamic financial member institution that provides an outstanding example to the industry, based on specific criteria that reflect the values of Islamic finance and implements best practices in Environmental and Social Responsibility. The criteria include non-profit financing, philanthropic activities, financial inclusion activities, promoting environmental and social benefits in business lines, agreements and transactions. The CIBAFI Award was characterized by neutrality and high transparency in the selection process. The selection is done by an independent committee from outside the BOD deciding on the final Award winning institution with the attendance of an external independent auditor who observes and supervises the process of evaluating standards.

H.E Sheikh Saleh Kamel , Chairman of CIBAFI handed Mr. Musa Shihadeh , CEO , General Manger of JIB the trophy during a special ceremony held in the KSA , Jeddah on 4/6/2017.

JIB deserved the award for achieving all standards , presenting a distinguished example among Islamic financial institutions , taken leadership in Environmental and Social Responsibility through supporting social and environmental benefits that are incorporated in its business activities, financial products, services, and charitable activities. The reports provided by Jordan Islamic Bank showed substantial investment in that arena. Examples of the practices done by JIB include a well-defined CSR Policy and Social Responsibility Plan, which is guided and administered by a Social Responsibility Committee. JIB equipped its branches with alternative sources of energy and operated renewed energy system units for some mosques and schools. JIB also supports Micro and SME sectors. It has been funding infrastructure development at existing and new educational institutions and community development programs.

Mr. Musa Shihadeh expressed how much pleased he is with this award to be added to Jordan Islamic Bank’s record which is rich with achievements in different fields of Islamic banking including the remarkable role in social responsibility which is a strong drive to achieve further successes and develop the performance  and meet clients’ needs considering that any success that JIB achieves is a success for the banking sector and Jordan national economy and Islamic banking in general.

Mr. Abdelilah Belatik, Secretary General of CIBAFI said “We are delighted to present CIBAFI Award 2017 to Jordan Islamic Bank. This bank has demonstrated significant evidenced practices in Environmental and Social Responsibility in its operations and  to be the distinguished example for other Islamic financial institutions and deserves the recognition. “