With the support and participation of the Ministry of Planning and International Cooperation Jordan Microfinance Network Discusses Future Plans, Introduces New Financial Products and Alternatives

with the support of the Ministry of Planning and International Cooperation, the Jordanian microfinance Network in collaboration with SEEP "an international nonprofit network that supports local  microfinance institutions" launched a workshop to address the business plan for the Network to discuss introducing new products and financial alternatives to diversify the financial services provided to the productive poor and low-income people in Jordan as part of the holistic financial inclusion approach of the government. This comes in line of the recommendation of the national strategy for the microfinance sector in Jordan, which was prepared recently under the supervision  of the Ministry of Planning and International Cooperation through the assistance of KFW.

During the workshop, the chairman of Jordan Microfinance Council Mr. Mustafa Nassereddin stressed on the necessity to expand the financial services provided by the Council members in a form that caters for the targeted group aspirations and needs in order to achieve the social objective of the microfinance sector and to contribute to the economic development due to the positive and strong relation between financial development and economic growth.

The participants appreciated the extended efforts exerted by the Ministry of Planning and International Cooperation in providing support to the sector in order to strengthen its role as a main economic and financial pillar that contributes to the well being of the Jordanian and further to the economic growth.

Moreover, the Ministry of Planning and International Cooperation highlighted the role and the efforts carried out by the microfinance sector in providing diversified  financial products within high level of transparency and accountability through applying  international best practices.

It is worth mentioning that the members of the Jordan Microfinance Network are; the Jordanian Company for Financing Small Projects (Tamweelcom), Microfund for Women, National Microfinance Bank, Middle East Micro Credit Company (MEMCO), Al-Ahli Microfinance Company, Jordan Microcredit Company (Finca), and Cairo Amman Bank.