Safwa Islamic Bank – Ratings and Stable Outlook Affirmed

24 June 2026

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Safwa Islamic Bank (SIB or the Bank) at ‘BB-’ and ‘B’, respectively. At the same time, CI Ratings has affirmed SIB’s Bank Standalone Rating (BSR) of ‘bb-’, Core Financial Strength (CFS) rating of ‘bb’ and Extraordinary Support Level (ESL) of Moderate. The Outlook on the Ratings remains Stable.

The BSR is derived from a CFS rating of ‘bb’ and an Operating Environment Risk Anchor (OPERA) of ‘bb-’ (indicating moderate risk). Our ESL assessment of Moderate does not result in any uplift for the LT FCR because the BSR is already at Jordan’s sovereign level (‘BB-’/Stable). While CI believes the willingness of the government to provide support remains high, its financial capacity is deemed moderate, as indicated by Jordan’s sovereign ratings.

The CFS is…