Jordan Dubai Financial (JD Financial) is a wholly owned subsidiary of JD Capital, investing in the financial sector in Jordan with a special focus on Shari’ah compliant providers. JD Financial also manages JD Capital’s proprietary portfolio investing in listed securities.

The foundation of JD Financial strategy is development of capital and financial markets through introducing new services, service providers, financial products, and innovative investment vehicles. Its operating model aims to strike a balance between being a principal investor, as well as an investment manager.

Detecting a shortage in high quality financial services compliant with the Islamic Shari’ah, coupled with a massive pent up demand for these services, JD Financial focused its resources towards building up a comprehensive portfolio of financial institutions that offer a complete range of Islamic financial services and products. Its portfolio is currently composed of the following:

 Portfolio Companies

• Jordan Dubai Islamic Bank (JDIB)

JD Financial, in cooperation with Dubai Islamic Bank (DIB), acquired 52% of Jordan’s specialized lending institution, the Industrial Development Bank (IDB). The bank went through a complete transformation into a full–fledged Islamic bank, capitalizing on the vast knowledge and experience of DIB, the world’s first bank to provide Shari’ah compliant banking services.

The new bank was named Jordan Dubai Islamic Bank, symbolizing the cooperation between Jordan and Dubai, and capitalizing on the distinguished “JD” brand that became an icon of excellence and professionalism during the past few years. The new bank opened its doors in January 2010.

• First Insurance

JD Financial was a founding member of First Insurance, which was established in 2007. The company commenced operations in the second half of 2008 offering a wide range of general Takaful insurance products. Partnering with leading local financial institutions such as Jordan Commercial Bank, and regional insurance provider Solidarity. First Insurance promises to be a leader in the field of Shari’ah compliant Takaful insurance in Jordan.

The company was able to post operational profits in its first year of operations, and is expected to gain a substantial market share within a very short period due to its professional management and unique services and product mix.

Recently JD Capital increased its stake in the company from 8% in 2008 to 26% in February 2009.