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Jordan Islamic Bank (JIB), a subsidiary banking unit of Al Baraka Banking Group, achieved a growth of 26.3 per cent in profit before tax for last year at $ 91.26 million, compared with $ 72.21m at the end of 2012.
Net profit after tax saw a growth of 23.8pc to $ 63.61m when compared with $ 51.48m as at the end of 2012.
Al Baraka Banking Group president and chief executive and JIB chairman Adnan Ahmed Yousif said the board of directors recommended the distribution of cash dividends at 15pc of the capital and an increase in the bank's capital"...
A.M. Best has affirmed the financial strength rating of B+ (Good) and issuer credit rating of "bbb-" of National Takaful Company (Watania) PJSC (Watania) (United Arab Emirates). The outlook for both ratings remains stable.
The ratings reflect Watania’s strong prospective risk-adjusted capitalisation and its developing market profile. An offsetting rating factor is"...Continue Reading >