Jordan Kuwait Bank announced that it has, for the first time, achieved the ISO 31000:2018 certification in risk management. This milestone reflects the bank’s commitment to adopting global best practices, strengthening corporate governance, and enhancing risk management across all its operations. It also contributes to reinforcing the overall regulatory framework of the Jordanian banking sector.

This achievement underscores the bank’s strategic focus on embedding risk management as a core component of its decision-making processes, supporting institutional resilience and sustainable performance amid the rapid changes in the banking industry.

The certification was awarded by TÜV Austria, a globally recognized organization specializing in the assessment of management systems. It followed a comprehensive and independent evaluation conducted by Cyber Correlate, which included a detailed review of the bank’s risk management framework, related policies and procedures, as well as its implementation and oversight mechanisms. The assessment confirmed alignment with the principles and requirements of ISO 31000.

The bank’s risk management framework spans all operations and activities, covering credit, market, liquidity, operational, business, and reputational risks, in addition to cybersecurity, business continuity, and environmental, social, and governance (ESG) risks. This is supported by an integrated approach that ensures consistency and effectiveness in identifying, analyzing, assessing, mitigating, and monitoring risks.

On this occasion, Group CEO Haethum Buttikhi stated, “Achieving this ISO 31000:2018 certification is fully aligned with the bank’s strategic direction to strengthen corporate governance and position risk management at the heart of decision-making. We remain committed to continuously enhancing our tools and methodologies to reinforce our institutional framework, protect the interests of shareholders and customers, and build trust with regulators and stakeholders.”

Saeed Alloubani, CEO of Cyber Correlate, expressed pride in partnering with Jordan Kuwait Bank on this achievement, noting that it reinforces the bank’s position as a leading example of sound governance and effective risk management in the banking sector.

Mahmoud Mustafa, Managing director of TÜV Austria, affirmed that awarding the ISO 31000:2018 certification reflects the bank’s strong commitment to international best practices in risk management. He added that the evaluation results demonstrated a robust and integrated framework that supports corporate governance and enhances the bank’s ability to navigate challenges in a dynamic business environment.

This certification is the outcome of a comprehensive institutional development program undertaken by the bank. The program included a full reassessment of its risk management framework, updates to relevant methodologies and policies, and stronger integration of risk management into its strategic planning processes.