May 21, 2024

Jordan Kuwait Bank the Roadmap to Successful Business in Jordan

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Stemming from Jordan Kuwait Bank’s (JKB) vision: “To bring the bright future of banking to our customers today” and JKB’s mission to provide an integrated, tailored, and streamlined banking experience through digitally innovative and agile services; JKB’s main objectives, is to transform its services and hence enhance the customer experience positioning ourselves as the bank of choice.

Jordan Kuwait Bank and Mastercard Digital Payment Services. Image Courtesy: – Jordan Kuwait Bank LinkedIn Page

JKB has invested in multiple top-tier technology solutions to enable the transformational growth and placement that has allowed us to launch a rich suit of transactional banking products and services spanning cash management, digital payments, liquidity management, trade finance, and cash flow forecasting.

In tandem with the development of our digital platforms, internal and external operational processes have been enhanced to provide a comprehensive end-to-end experience with our corporate and SME clients, delivering an easy and efficient engaging experience, resulting in a significant reduction of the time required for credit approvals.

Data analytics is another area on which we are focusing. Big data architectures serve the purpose of managing information, pinpointing customer needs, improving performance, and putting the banking industry at the forefront of improving the overall digital customer experience and data-driven decision-making.  

Jordan Kuwait Bank’s commitment to the local economy remains a top priority. A growing and thriving SME sector is directly related to simultaneously and positively impacting the local economy and job creation. We have joined forces with the European Investment Bank (EIB) – USD 119 million line of credit to be on-lent, primarily to local small and medium-sized enterprises (SMEs) that have been severely impacted by the economic impact of the COVID-19 outbreak, to help implement the Jordanian government’s economic reform plan, boost the private sector, and promote competitiveness and investment in climate change, while strengthening financial management. SMEs are the backbone of Jordan’s economy, accounting for over 95% of local businesses, contributing over 50% of the GDP, and employing around 60% of the working population.

JKB is proud of its proven banking and advisory experience in the market, recording 11% growth in its direct corporate facilities portfolio in 2021, compared to the average 5% growth recorded by the Jordanian financial sector. This is also reflected in our extremely high customer retention rate.

Together with our partners, whether local, international, lenders, or borrowers, JKB has led and supported various mega-projects in different sectors of the country. JKB has been mandated as lead arranger for sizable and economically viable projects, most recently, in the hospitality and medical sectors.

Furthermore, in terms of sustainability, JKB is a pioneer and market leader in financing renewable energy projects.

Jordan Kuwait Bank leverages its capabilities to offer a comprehensive range of services and financial solutions, including leasing through its subsidiary Ejara Leasing Company, and a wide range of investment banking and financial advisory services through United Financial Investment Company (UFICO).

The Article received on Mail from Jordan Kuwait Bank

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