JLGC signed agreement with Capital Bank

JLGC signed agreement with Capital Bank

An agreement has been signed between the Jordan loan Guarantee Corp. and Capital Bank on Tuesday 2ed April 2013 to guarantee the risks of financing SMEs loans granted by Capital Bank.

The agreement was signed by Dr. Mohammed Al Ja'fari, the Director General of the Jordan Loan Guarantee Corp. and Mr. Haitham Qamhyia , the General Manger of Capital Bank. In the presence of H.E. Eng. Basem Al Salem, chairman of the Board of Capital Bank and H.E.Eng. Ya'rub AlQudah, CEO of the Jordan Enterprise Development Corporation / JEDCO.

Mr. Qamhyia pointed out that the agreement reflects the leading role of the bank in financing and developing SMEs sector at the kingdom, which also contributing in advancing economic development, decreasing poverty and containing unemployment.

Dr. Mohammed Al Ja'fari, the Director General of the Jordan Loan Guarantee Corp. said that signing the agreement came in line with the company's mandate to direct its guarantees for SMEs to enable them to obtain the required financing to enhance their business abilities based on the feasibility and cash flow of those projects.

Through this agreement, JLGC aims to expand its services and to enable SMEs to access the necessary financing they may require. Noted that the company provided guarantees for (833) SME loans during 2012 with a guaranteed value of JD 17.6 million, in comparison with (516) loans with a guaranteed value of JD 12 million in 2011.

JLGC expects that the guaranteed value of loans granted to SMEs during this year will reach JD (25) million due to the increasing demand of SME owners and to the expected support by local banks.

Mr. Mohannad Al Rashdan / Assistant Director General for Technical and Operational group and Mr. Jamal Al Ja'afari /Loan guarantee dept. manager at JLGC attended the signing ceremony, in addition to Mr. Yasser Klieb / Assistant General Manager- Head of Corporate Banking, Mr. Naser Al Ghzawi / SMEs dept. Manager and Mr. Khaldoun Rababb'a / Marketing and Corporate communication manager on behalf of Capital Bank.