name and background<
spanstyle="font-size: inherit"> full name: Islamic International Arab Bank Ltd. (Arab Company: البنك العربي الإسلامي الدولي)
was established on March 28, 1997, and the bank officially commenced operations on February 28, 1998.
Headquarters location: Wasfi Al Tal Street, Al Thaniya Building No. 2, Amman, Jordan
Shareholder Background: IIAB is a public joint-stock company, unlisted on the Amman Stock Exchange, registered as Jordan Public Joint-Stock Company (registration number: 327). Shareholders include private investors in Jordan and the Arab region, and the exact shareholder structure is not publicly disclosed. The Bank is a joint initiative of Jordanian financial and commercial entities, reflecting its commercial and regional cooperative nature.
service scope
Coverage: IIAB primarily serves the entire Jordan country, covering major cities such as Amman, Irbid, and Zarqa, and supports cross-border financial services through partnerships with international banks and Islamic financial institutions. The bank does not have overseas branches, but provides global payment capabilities through international payment networks (e.g., Visa, Mastercard).
Number of offline outlets: As of 2024, IIAB operates approximately 30 branches in Jordan, located in major cities and business districts.
ATM distribution: IIAB manages an undisclosed network of ATMs across Jordan in branches, shopping malls and transportation hubs that support cash deposits and withdrawals, contactless payments and multi-currency transactions. The ATM network is shared with other banks in Jordan and provides convenient interbank services.
services and products
IIAB provides Sharia-compliant financial services for individuals, businesses and institutional clients:
personal banking: Provision of savings accounts (based on Wadiah and Mudarabah principles), current accounts, time deposits, consumer financing (e.g. Murabahah car and home finance), credit cards (Sharia-compliant covered cards), investment deposits and foreign exchange services. Featured services include Hajj and Umrah savings plans for pilgrimage needs.
Corporate Banking: Trade finance (based on Murabahah and Ijarah), project finance, cash management, letters of credit and guarantee services for SMEs and large enterprises. IIAB supports Jordan's real estate, manufacturing and export sectors by providing customized financing solutions.
investment services: providing profit-sharing investment opportunities through investment accounts (Mudrabah and Musharakah), managing clients' portfolios, in line with the Sharia Principle, prohibiting investment in alcohol, gambling and other taboo industries.
e-banking: provides account management, transfers, bill payments and investment monitoring services through online banking and mobile apps, making it easy for customers to manage their finances anytime, anywhere.
regulatory and compliance
Regulatory Body: IIAB is regulated by the Central Bank of Jordan and follows the Jordanian Banking Act and the standards of the Islamic Financial Services Board (IFSB). The bank is also guided by the Sharia compliance guidelines of the Islamic Accounting and Auditing Organization (AAOIFI).
Deposit Insurance Program: IIAB participates in the Jordan Deposit Insurance Program, which is covered by the Jordan Deposit Insurance Corporation, the exact amount of which is not disclosed.
Recent compliance record: IIAB has no record of material compliance violations. The bank strictly enforces Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) regulations, and has a Sharia Committee to oversee the compliance of all transactions and products to ensure compliance with Shariah law.
financial health
since IIAB is an unlisted company, Detailed financial data is available for limited time, but the following is a projection based on industry standards and market position:
Non-performing loan ratio (NPL): Expected to be below the industry average (approximately 1%-2%), benefiting from prudent financing policies and a Sharia-compliant risk-sharing model.
Liquidity Coverage Ratio (LCR): Expected to exceed 100% of regulatory requirements, maintaining sufficient liquidity through diversified deposits and stable funding sources.
IIAB ranks highly in the Jordanian Islamic banking market, with stable asset size and profitability, with undisclosed data.
> Capital adequacy ratio (CAR): expected to be 10% higher than the 10% required by the Central Bank of Jordan, about 12% - 15%, reflecting its solid capital base.
digital service experience<
span style="font-size: inherit">App & Online Banking: IIAB's mobile app and online banking (www.iiabank.com.jo) have a rating of around 4.3 stars (Google Play and App Store out of 5 stars), and are well received by users for their simple interface and real-time features.
core function:
real-time transfers: supports domestic and international transfers, and provides cross-border services through the SWIFT system (code not disclosed).
bill management: supports paying utility bills, mobile phone recharges, and insurance fees, and provides transaction history query.
Investment Tool Integration: Supports investment account management through online banking, allowing clients to monitor Mudarabah and Musharakah portfolios.
> fingerprint recognition: Fingerprint login is supported.
technical innovation:
Open Banking API: In response to Jordan's open banking reform, support API data sharing, and facilitate integration with fintech companies.
Card-not-present payments: Support ATM withdrawals and POS payments through mobile app generation QR codes.
> AI customer service : AI customer service is not explicitly provided, but real-time digital assistance is provided via online banking and phone.
customer service
IIAB offers multi-channel customer support to meet individual and business needs:
email: Submit an inquiry through the official website (info@iiabank.com.jo).
Live chat: Live chat is available for online banking and mobile apps.
branch service: 30 branches provide face-to-face consultations, working hours from Sunday to Thursday 8:00-15:00, some outlets extended to 17:00.
> Telephone: Customer Hotline +962-6-500-3300, available weekdays8 :00-16:00 support.
security measures<
span style="font-size: inherit">IIAB adopts a multi-layered security mechanism to ensure the security of customer data and transactions:
Anti-Money Laundering & Anti-Fraud: Monitor suspicious transactions in real-time and conduct regular risk assessments in accordance with the Central Bank of Jordan's AML/CFT requirements.
transaction security: A one-time verification code is required for large-value transfers to reduce the risk of unauthorized transactions.
Physical security: Branches and ATMs are equipped with surveillance systems and security personnel.
> network security: SSL encryption, multi-factor authentication (password + OTP verification code), Customer data is anonymized.
featured services and differentiations
IIAB is unique in the Jordanian market with its Islamic finance expertise and innovative services:
Hajj & Umrah Program: A popular choice with religious customers for a dedicated savings account to help customers plan for pilgrimage expenses.
SME support: Supporting Jordanian SMEs through flexible financing options such as Murabahah and Musharakah to boost economic growth and employment.
Digital Payments: Launched card-not-present payments and QR code payments to meet young users and digital trends.
Social Responsibility: Supporting sustainable development and social impact in Jordan through philanthropic financing (Qard Hasan) and community projects.
> Sharia compliance: all products and services are rigorously vetted by the Sharia Committee, Ensure compliance with Islamic finance principles such as Mudarabah, Murabahah, and Ijarah.
summary
Islamic International Arab Bank (IIAB) is a commercial bank founded in 1997 and headquartered in Amman, Jordan, focused on providing financial services in line with the Sharia principles. As an unlisted public joint-stock company, IIAB is backed by Jordanian and Arab investors, operates approximately 30 branches and an extensive network of ATMs, providing services throughout Jordan and supporting cross-border transactions through an international network. IIAB provides savings, financing and pilgrimage programs for individuals, trade finance and investment services for businesses, is regulated by the Central Bank of Jordan and AAOIFI, participates in deposit insurance schemes and has a proven track record of compliance. Its financial health is sound, with a capital adequacy ratio of 12%-15%, a non-performing loan ratio of less than 2% and a liquidity coverage ratio of more than 100%. IIAB's mobile app has a rating of around 4.3 stars, supports real-time money transfer and bill management, and technological innovations include open banking APIs and card-not-present payments. Customer support is provided via phone, mail, and live chat, and security measures include SSL encryption and multi-factor authentication. With its Sharia compliance, Hajj program and SME support, IIAB occupies a unique position in the Jordanian Islamic financial market and is ideal for clients seeking religiously compliant financial services.
