In line with its strategy to invest in Sharia compliant financial service providers, Jordan Dubai Financial (JD Financial) - the investment arm of Jordan Dubai Capital (JD Capital) in the financial sector, announced its acquisition of 4 million shares of First Insurance Company, which represents 17.25% of the company's capital. With this investment, Jordan Dubai Capital's direct and direct shares in the company exceeded 25% of First Insurance's Capital.

It is worth noting that JD Capital, the owner of Jordan Dubai Financial (JD Financial), was a founder of the First Insurance Company and is represented on its board of directors, whereby JD Capital contributed to the establishment of this company in cooperation with a number of local and regional financial institutions with a capital of JOD 24 million, making First Insurance the biggest insurance company in Jordan offering Shariah-compliant insurance products and services.

On this occasion, His Excellency Mr. Samir Al-Rifa’i, CEO of JD Capital said: "We are proud of this step which reflects our confidence as local investor's in the resilience of the Jordanian economy, and in it's ability to face exceptional economic circumstances especially in lieu of the current instability that is facing most if not all sectors of the economy."

He added: "This investment confirms our commitment towards implementing our future plans in addition to our continuous search for promising investment opportunities that build on our successes and achievements in the Jordanian market. We rely on the high administrative and technical capabilities that are available to us in Jordan, and the strength of our investment policies, whilst also believing in our responsibility towards supporting the local economy."

JD Capital founded JD Financial to be its investment arm in financial service providers in Jordan, and to develop the financial sector through the establishment of new companies that offer advanced financial services and investment tools, with a specific focus on Shari’ah compliant investments through various partnerships with prominent institutions in the GCC.