Resolution:
1. Define J2C authentication data entry for accessing Tibco JMS .
   In admin console navigation pane, select Security – JAAS Configuration – J2C Authentication Data,
   in content pane, click New, and enter Alias, User ID, and Password. For example, use admin user and its password.

2. Define Custom Properties for the Tibco JMS provider Select the created JMS provider TIBCO, select Custom Properties in content pane, click New.
Specify
Name: com.tibco.tibjms.naming.security.principal
    Value: admin

Repeat above steps to create another property.
    Name: com.tibco.tibjms.naming.security.credentials
    Value: {adminpassword}

3. Add Component-managed Authentication Alias and Container-managed Authentication Alias for JMS connection factory

Select the created JMS provider TIBCO, Select JMS Connection Factory in the content pane,  specify following properties:
    Component-managed Authentication Alias: tibco (choose the J2C Authentication Data entry we created for Tibco from drop down list)
    Container-managed Authentication Alias: tibco (choose the J2C Authentication Data entry we created for Tibco from drop down list)
    Mapping-Configuration Alias: DefaultPrincipalMapping

4.  Modify the external JNDI name for the connection factory in this way:
External JNDI name: tibjmsnaming://admin/adminPassword@10.105.66.122:7222/entitlement.QCF
( in the format UserID/Password@hostname:portnumber/factoryJNDIname )