On Monday, April 7, 2025, the Jordan Loan Guarantee Corporation held its 31st Ordinary General Assembly meeting for its shareholders via videoconference. The meeting was chaired by the Chairman of the Board of Directors, His Excellency Dr. Adel Al-Sharkas, and attended by His Excellency Dr. Wael Al-Armouti, the Companies Controller, and a representative of Ernst & Young, the company's auditors, in addition to the members of the Board of Directors and the company's Director General.
During its meeting, the General Assembly approved the Board of Directors' report on the company's operations for 2024 and its audited financial statements for the fiscal year ending December 31, 2024. The General Assembly also approved the Board of Directors' recommendation not to distribute dividends to shareholders for 2024 to continue strengthening the company's capital base. It also approved other items on its agenda.
Chairman of the Board of Directors, His Excellency Dr. Adel Al-Sharkas, expressed his appreciation for the company's efforts to achieve its goals over the years. The year 2024 coincided with the company's thirtieth anniversary, during which the company was able to build a solid corporate image and represent a successful model for public-private partnerships. The company also achieved a clear qualitative and quantitative leap in its business volume, thanks to its solid steps and belief in its important developmental role in facilitating access to financing for small and medium-sized enterprise owners, as well as empowering Jordanian exporters through the Export Credit Guarantee Program.
Al-Sharkas stated that despite the challenging economic conditions and complex geopolitical repercussions during 2024, the company continued its sustainable path of achieving positive operational results as the primary provider of loan guarantee services in the Kingdom.
Mr. Adnan Naji, JLGC Director General, reviewed the company's operational and financial performance. During 2024, through its loan guarantee programs, the company guaranteed 1,855 small and medium-sized enterprises (SMEs) with a total value of approximately JOD 257 million, including 231 startup projects valued at JOD 22.7 million. The number of beneficiary projects guaranteed under the Micro Enterprise Support Program reached 534 projects, with a value of approximately JOD 4.7 million. Furthermore, the company guaranteed approximately 4,830 export shipments and local sales, with a guaranteed value of approximately JOD 187 million, through the Export Credit and Local Sales Guarantee Program. Furthermore, the company's total revenues increased by 6% during 2024, reaching JOD 49.1 million. While the company was able to achieve a pre-tax profit of JOD 2.3 million in 2024, compared to JOD 2.2 million in 2023.
Naji explained that the company maintained a solid capital base; total shareholders' equity increased from JOD 41.3 million at the end of 2023 to JOD 43 million at the end of 2024. Meanwhile, the company's assets amounted to JOD 768 million at the end of 2024, compared to JOD 740 million at the end of 2023.
Al-Sharkas stated that despite the challenging economic conditions and complex geopolitical repercussions during 2024, the company continued its sustainable path of achieving positive operational results as the primary provider of loan guarantee services in the Kingdom.
Mr. Adnan Naji, JLGC Director General, reviewed the company's operational and financial performance. During 2024, through its loan guarantee programs, the company guaranteed 1,855 small and medium-sized enterprises (SMEs) with a total value of approximately JOD 257 million, including 231 startup projects valued at JOD 22.7 million. The number of beneficiary projects guaranteed under the Micro Enterprise Support Program reached 534 projects, with a value of approximately JOD 4.7 million. Furthermore, the company guaranteed approximately 4,830 export shipments and local sales, with a guaranteed value of approximately JOD 187 million, through the Export Credit and Local Sales Guarantee Program. Furthermore, the company's total revenues increased by 6% during 2024, reaching JOD 49.1 million. While the company was able to achieve a pre-tax profit of JOD 2.3 million in 2024, compared to JOD 2.2 million in 2023.
Naji explained that the company maintained a solid capital base; total shareholders' equity increased from JOD 41.3 million at the end of 2023 to JOD 43 million at the end of 2024. Meanwhile, the company's assets amounted to JOD 768 million at the end of 2024, compared to JOD 740 million at the end of 2023.
Naji thanked the Central Bank of Jordan and the members of the Board of Directors for their effective communication and continuous support to the company in response to the vision of economic modernization and sustainable development in the Kingdom.
