A cooperation agreement between JLGC & Tamkeen Leasing Company

A cooperation agreement between JLGC & Tamkeen Leasing Company

A cooperation agreement was signed at the JLGC offices in Amman on Tuesday 31 May 2011, between JLGC & Tamkeen Leasing Company to guarantee their financial leasing operations. The agreement was signed by JLGC’s Director General H.E. Dr. Jamal Salah and Tamkeen’s Director General, Mr. Jamal Fariz.

Tamkeen leasing company is the latest addition to INVESTMENT BANK Group, established to meet the growing needs of financial leasing services in the Jordanian market & launched its operations since the first quarter of 2011.

Tamkeen offers a full set of operational financial leasing structured to comply with the client’s activities and financing requirements, in addition to provide financial leasing services that comply with Al Sharia Islamic law, addressed to all economic sectors (individuals, SMEs and large companies). Tamkeen plans to raise the level of interest in the services provided to targeted markets to meet their financing needs through spreading the concept of leasing and its economic & financial benefits.

This agreement will contribute to increase the size of credit facilities granted by Tamkeen, and enable financial leasing of productive projects in the economy on the bases of their feasibility and cash flows.

Financial leasing which is considered to be a highly effective funding tool, very popular in developed countries to finance capital assets associated with the operational productivity support, and that contribute to the development and of various economic sectors.

JLGC continues to adapt its guarantees to facilitate the different types of financing for economic projects in order including the guarantee of the risks for this type of financing (leasing) leading to the acquisition, which would increase the degree of dependence on the feasibility of financing such economic projects instead of relying on the availability of traditional collaterals.