Jordan Deposit Insurance Corporation (JODIC) released its annual report for the year 2021, which highlights the Corporation’s key achievements and its financial results during the year. The report emphasized the development of deposits and depositors in the banking system; 77.6% of its deposits are denominated in the local currency, 97.0% of those deposits are eligible, and 97.7% of eligible depositors are fully insured. Also, the annual report demonstrated JODIC’s activities at the regional and international levels, illustrating its effective role through participating in the committees and events that are relevant to the deposit insurance industry.

The annual report contained JODIC’s financial performance for the year 2021, the report released the financial statements and the independent auditor’s report which indicated an increase of JD 82.3 million in total assets compared to the level registered at the previous year to reach JD 1014.4 million at the year-end of 2021. Public debt instruments composed 97.5% of JODIC’s investment portfolio, which its realized return amounted to JD 47.8 million with a growth rate of 5.5% compared to a year earlier. The report showed the Corporation’s financial soundness through disclosing the indicators of the reserves adequacy, as JODIC’s reserves amounted to JD 1011.2 million at the year-end of 2021, which covers 12.2% of the insurance policy. Meanwhile, the report showed that the reserves of the Deposit Insurance Fund for Islamic Banks reached JD 43.4 million according to its financial position at the year-end of 2021.

The 2021 annual report emphasized the JODIC’s pivotal role as a main recognized pillar of the financial safety-net, represented by protecting depositors and contributing to maintaining the banking and financial stability in the Kingdom, which supports the national economy, encourages savings, and enhance confidence in the banking system.