Tamweelcom Obtains CBJ License for Practising Micro-finance Activity

06/12/2018

Jordan Microfinance Company (Tamweelcom) obtains license for practicing its works as a microfinance company as per the microfinance companies’ law no. 5 of the year 2015 along with the instructions issued duly, and accordingly the microfinance sector is now subject to the supervision and control of the Central Bank of Jordan.
BOD Chairman Mrs.Niveen Abboushi indicated that the strategies and policies followed by Tamweelcom during the last nineteen years are distinguished of being ready for the changes and updates in the sector and they are mainly based on adopting and enhancing the concept of financial inclusion; which is compatible with the national strategies trend of financial inclusion while providing financial services for the low-income individuals or the partially or entirely unfunded persons whether individuals or small and micro enterprises within responsible funding that is considering their financial potentials.  
Executive Director Mr.Ali Abdel Jabbar said: “Organizing the microfinance sector under the supervision of the Central Bank of Jordan will be enhancing the sector role in economic and social development in Jordan and will contribute in expanding sector work in all fields”. 
It is worth mentioning that Tamweelcom is one of the leading non-profit companies in the microfinance sector and it is owned by Nour Al-Hussain Foundation working under the umbrella of King Hussein Foundation and was established in 1999. 

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