Introductory Workshop for Micro-companies financing Guarantee program at the Association of Banks in Jordan

Introductory Workshop for Micro-companies financing Guarantee program at the Association of Banks in Jordan

After the launch of the special Guarantee program for Micro-companies financing by the Jordan Loan Guarantee Corp. in cooperation with the Central Bank of Jordan, that aims to provide financing through microfinance companies operating in the Kingdom, according to easy deadlines and costs, to help these companies continue their business and cover their operating and capital expenses, particularly with the economic challenges related to the Corona crisis. As well as signing the cooperation agreements with a number of microfinance companies, JLGC and the Association of Banks in Jordan organized an introductory workshop for Micro-finance companies at the association’s headquarters on Sunday 7/11/2021.

After Dr. Maher Al-Mahrouq, Director General of the Association of Banks, welcomed the participants, and the welcome speech of Dr. Mohammed Al-Ja’fari, Director General of the Jordan Loan Guarantee Corporation, and Dr. Khaldoun Weshah, representative of the Central Bank in JLGC Board of Directors. The workshop began by introducing the participants more about the program that targets companies and businesses duly registered at official authorities, and in which the number of employees does not exceed five people, and includes all workers and craftsmen working for their own account. The ceilings of loans/financing granted to individual institutions and micro-companies differ from those granted to self-employed and craftsmen.

Financing is provided to microfinance companies directly from the central bank to be re-lending for the purposes specified in this program exclusively. 85% plus interest / Murabaha for six months.

The workshop was attended by a number of representatives of the Central Bank and the microfinance sector concerned with financing small and micro companies, to identify opportunities to enhance financing from the multiple sources available to them.