Following the first World Bank Task Force meeting in March 2015, H.E. Dr. Mohammed Al Ja'fari participated in the task force second meetings in Washington DC during the period from 8-10, 2015, representing Loan Guarantee Schemes in MENA region, to develop the Principles of designing and implementing PCGs for SMEs .
The task force meetings discussed the Draft Consultative Document outlining the proposed “Principles for the Design and Implementation of Public Credit Guarantee Schemes for Small and Medium Enterprises in Emerging Markets and Developing Economies”. The document based on the outcome of the First Task Force Meeting that provides the purpose and objectives of the proposed Principles to reach consensus on the principles and adopt it by the World Bank.
Dr. Al Ja’fari also participated as a speaker in the Dialog meeting about “Innovations in Islamic Financing to SMEs in Jordan and West Bank and Gaza: Shari’a Compliant Guarantee (Kafala)".
The objective of the Kafala program is to expand the access of rural SMEs and women entrepreneurs outside the metropolitan area of Amman to access formal Islamic banking services and provide opportunities for growth and job creation.
JLGC has provided technical support to the Palestinian Monetary Authority to design an innovative structure based on Kafala program to help financing SMEs in Gaza through Islamic Banks.
