Jordan Kuwait Bank has announced that it has obtained, for the first time, certification of alignment with the international standard ISO 31000:2018 for Risk Management. This achievement reflects the Bank’s commitment to adopting global best practices, strengthening corporate governance frameworks, and enhancing risk management across its operations, while contributing to the robustness of the regulatory framework within the Jordanian banking sector. This milestone underscores the Bank’s strategic direction toward embedding risk management as a core component of its decision-making processes, thereby reinforcing institutional resilience and supporting sustainable performance amid the rapidly evolving banking landscape. The certification was granted by TÜV Austria, an internationally recognized certification body specializing in management systems assessment, based on a comprehensive and independent evaluation conducted by Cyber Correlate. The assessment covered the Bank’s risk management framework, associated policies and procedures, as well as implementation and control mechanisms, to verify alignment with the principles and requirements of ISO 31000. The Bank’s risk management framework encompasses all operations and activities, including credit, market, liquidity, operational, business, and reputational risks, in addition to cybersecurity risks, business continuity, and environmental, social, and governance (ESG)-related risks. This is implemented through an integrated methodology that ensures consistency and effectiveness in risk identification, analysis, evaluation, treatment, and continuous monitoring. On this occasion, Mr. Haitham Al-Bataineh, Chief Executive Officer of Jordan Kuwait Bank Group, stated: "Obtaining alignment certification with ISO 31000:2018 reflects the Bank’s strategic commitment to strengthening corporate governance and embedding risk management as a fundamental element of decision-making. The Bank continues to enhance its tools and methodologies to reinforce its institutional framework, safeguard the interests of shareholders and clients, and strengthen confidence among regulators and stakeholders." For his part, Eng. Saeed Al-Lubani, Chief Executive Officer of Cyber Correlate, expressed his pride in partnering with Jordan Kuwait Bank on this achievement, highlighting that it further reinforces the Bank’s leadership as a benchmark for sound governance and risk management practices within the banking sector. Meanwhile, Eng. Mahmoud Mustafa, General Manager of TÜV Austria, emphasized that awarding the ISO 31000:2018 alignment certification to Jordan Kuwait Bank reflects its commitment to implementing international best practices in risk management. He noted that the assessment results demonstrated a comprehensive and effective risk management framework that supports corporate governance and enhances the Bank’s ability to navigate challenges in a dynamic business environment. This certification is the result of a comprehensive institutional development program implemented by the Bank, which included a full reassessment of its risk management framework, updates to relevant methodologies and policies, and strengthened integration of risk management into strategic planning processes.
