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The Islamic International Arab Bank
The Islamic International Arab Bank has for the third consecutive
year, succeeded in showing that it possesses all the elements
of power and success, and has further proved, year after year
its unfailing ability to achieve targeted goals and dividends,
in addition to its excellent performance in spite of the negative
external conditions to which Jordan is still exposed, such as
the continued blockade of Iraq, the difficulty of exporting to
the Palestinian market and the prevailing state of uncertainty
that engulfs the Middle East peace process which influences negatively
the behavior of both clients and investors alike.
The Bank's results for the year 2000 clearly show the level to
which it has advanced and its ability to acquire profits for both
shareholders and depositors. The Bank has managed to achieve positive
growth in its net profits amounting to 121.6% while the return
on assets (ROA) has risen to 2.5% against 1.5% for the previous
year.
Furthermore, the Bank has achieved parallel growth in its clients'
deposits. This was reflected generally in the Bank's use of its
funds and assets through the adoption of sound policies that maintain
its success and sustainability, and the careful use of its resources
to safeguard its financial position so as to achieve a balanced
outcome for all stockholders.
The Islamic International Arab Bank adopts a sound Islamic approach
to address all activities and functions of society.
The Islamic International Arab Bank continues to diversity and
improve its financial services and is always seeking to excel
in performance and to maintain a high quality and caliber in all
its new services and products. The Bank's investment in modern
technology is considered to be an important policy element that
is enabling it to achieve superior customer service.
We are fully aware of the problems and obstacles that are facing
the banking industry and are employing every way possible to overcome
them by adopting the best means in credit risk management, following
up and monitoring the Bank's operations and preparing fully-fledged
strategic plans to guide the Bank through the years to come. Our
future mandate for growth and development is based on five pillars:
first and foremost, to respond effectively and qualitatively to
the wishes and needs of our clients and to build up their funds
responsibly and carefully, secondly, to introduce and develop
an Islamic products base in the Jordanian market, thirdly, to
enhance and support our financial position and to closely monitor
all elements of risk, fourthly to develop human resources to ensure
their excellent performance is maintained and, finally, to ensure
the effective use of modern technology, which is not so much considered
a goal in itself as an element of increased capability for the
Bank.
Finally, I extend my heartfelt thanks to all members of the Board
of Directors for their efforts. I am also proud of the sincere
efforts that were exerted by all employees of this institution,
whom I warmly thank for their cooperation, and I further express
my deep appreciation to our respective clients who have given
us the confidence and support that made it possible for us to
achieve good results during the last year.
Khalid Shoman
Chairman of the Board of Directors
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