JIF Bank offers a wide range commercial and investment banking services that include on the commercial side, the acceptance of deposits in all major currencies, financing investment
projects, foreign currency & equity transactions, issuance of letters of credit and guarantees, arranging and participating in syndicated loans. On the Investment Banking side, we provide brokerage and portfolio management services, custody services, among other services. JIF Bank participated in the underwriting of most bond issues in Jordan both as a manager and a co-manager. JIF Bank also provides financial consultancy and representation to international companies that have business or wish to carry out business in Jordan.
JIF Bank has an extensive experience and knowledge in the Jordanian Capital Market. It was the first bank to deal with international institutional investors in the Jordanian Capital Market. Since 1982, JIF Bank regularly interacted with institutional investors such as the UN Joint Staff Fund, Templeton, Chase Manhattan, Citicorp, and many others. JIF Bank has a wide base of institutional investors, both locally and internationally. For the past several years, JIF Bank ranked among the top five brokers in the Amman Stock Exchange. In the year 2000, JIF Bank managed the execution of the acquisition of the Jordan Dead Sea Industries Company by Arab Potash Company as a result, it ranked as number one Broker at the Amman Stock Exchange in terms of Volume which stood at JD 90.2 million out of JD 676.6 million with a market share of 13.3%
History
Jordan Investment and Finance Bank (JIF Bank) was established in 1982 as a financial institution and was licensed in 1989 as a public shareholding investment bank with capital totaling JD 4.5 million. The paid-in capital was increased to JD 10 million in 1994, and to JD 20 million (USD 28 m) in 1997. In 2000, total assets reached JD 348.135 million (USD 490.870 million), consumer deposits reached JD 264.702 million (USD 371.820 million) and shareholder′s equity amounted to JD 26.009 million (USD 36.673 million). The Capital adequacy ratio reached 22%, which is considered excellent, as the minimum ratio set by the Central Bank of Jordan is 12% according to the Basle Standards
Constitutional Framework
JIF Bank is regulated by the Central Bank of Jordan, the Jordan Securities Commission, the Securities Law No. (23) and the Companies Law No. (22) for the year 1997 and is authorized by the Jordan Securities Commission and Central Bank of Jordan to conduct investment business in the Hashemite Kingdom of Jordan. In addition to being licensed by the Jordan Securities Commission as a Broker/Dealer at the Stock Exchange as well as being a member of the Amman Stock Exchange, Jordan Investment and Finance Bank is licensed to act as a Financial Advisor, Portfolio Manager, Securities Safe Keeper and an IPO Manager.
Mode of Finance
The Capital of the Bank is 20 Millions of American Dollars
(last updated: 25-November-2002)
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Jordan \ Commercial Banks \ Jordan Investment & Finance Bank
