Agreement signed with Ejara Leasing Company

Agreement signed with Ejara Leasing Company

On Thursday, 6 December 2012, at the JLGC Headquarters, a financing guarantee agreement was signed between Jordan Loan Guarantee Corporation, and Ejara Leasing Company (a member of Jordan Kuwait Bank Group), covering the leasing operations granted by Ejara.

The agreement was signed by Dr. Mohammed Al-Jafari, JLGC Director General, and Mr. Arafat Odetallah, Deputy General Manager of Ejara.

The signing of this agreement is a continuation of JLGC efforts to guarantee various forms of financing offered to different small and medium economic projects; including leasing which is considered to be one of the widely used methods of financing of long term assets. It enhances business abilities for owning and upgrading their machinery, equipment and production lines.

This agreement is expected to increase the volume of credit facilities granted by Ejara Leasing Company to productive economic projects, based on the feasibility and cash flow of those projects.

Ejara Leasing Company is a private shareholding company with a total capital of JD 20 million. The company is a member of Jordan Kuwait Bank Group. It began its operations in October 2011, to finance various economic sectors through capital lease.

The Agreement covers Ejara short and medium term leasing operations up to eight years maturity with a funding ceiling of up to JD 550 thousands.