Agreement Signed with the Al Ahli Leasing Company

Agreement Signed with the Al Ahli Leasing Company

On Sunday, 17 October 2010, at the JLGC headquarters, a working agreement was signed between the Jordan Loan Guarantee Corporation & Ahli Leasing Company, under which the risks of leases offered by the Ahli Company will be guaranteed by JLGC.

The agreement was signed by Director General of the Jordan Loan Guarantee Corporation, Dr. Jamal Salah, and Mr. Nibal Freihat, General Manager of the Ahli Leasing Company.

The signing of this agreement is a continuation of the JLGC efforts to guarantee the risk of various forms of financing offered to the different economic projects, including leasing which is considered to be one of the best ways of funding used in the world's developed countries to finance capital assets associated with the operational productivity, support, and that contribute to the development and support of various economic sectors.

This agreement will contribute to increase the size of credit facilities granted by Al Ahli Leasing Company to productive economic projects, based on the feasibility and cash flow of projects through financing various assets.

Al Ahli Leasing Company is a private shareholding company registered with a capital of JD 20 million owned by the Ahli Bank. The company began its work in the banking market of Jordan since the beginning of 2010 to meet the needs for leasing to various economic sectors, to achieve its development and increase the efficiency and that of the Jordanian economy.

The Jordan Loan Guarantee Corporation continues to adapt to the new markets of the financing institutions to finance the different economic projects and open the doors to guarantee the risks of this type of financing, which leads to the acquisition. The JLGC guarantee increase the degree of dependence on the feasibility of the financed projects, instead of relying on the availability of traditional collaterals to qualify for adequate financing.