Licensing Ahli Microfinance Company under the Umbrella of the Central Bank of Jordan

Amman, March 2018

Ahli Microfinance Company obtained the approval of the Central Bank of Jordan's Board of Directors, licensing the Company to operate under The Bank's control and supervision. This came after the Company fulfilled all requirements and instructions of the Microfinance Companies Regulations No. 5 for the year 2015.

On this occasion, Ahli Microfinance Company Chairman of the Board, Dr. Ahmad Al-Hussein, stated that the Company's acquisition of the license is a proof of confidence in the professional practices and the financing standards adopted by the Company. These are also in line with the provisions of the new regulations aiming at regulating the sector's work, in accordance with the international standards to ensure sustainability, development and variation of services, within a broad institutional framework. The license also reflects the company's outstanding performance and the high level of compliance with relevant standards.

Dr. Al-Hussein added: "We are proud to be one of the first companies in the sector, to be licensed by the Central Bank of Jordan, to continue - under the Umbrella of the Central Bank of Jordan - providing the micro finance and financing services, which we started to offer as the first private sector microfinance company in the year 1999.

Our ambitious goal is to enhancing the financial inclusion of Jordanians, by providing our services to all segments of the society, while focusing on micro projects that are not reached by banking services due to the inability of furnishing the necessary guarantees required by banks. This goal is also in line with the national vision for the deployment of financing and financial services among Community members, improve services and encourage innovation, without losing sight of ensuring the security and integrity of the financial sector".

The Company's General Manager, Mr. Marwan Shahateet, stated that the implementation of the technical standards which are obligatory by the Company, as well as the adoption of a clear quality policy while taking innovation, excellence and continuous development as a milestone for all products and services the company offers, had always contributed to attaining the company's vital achievements.

Mr. Shahateet added that under the major legislative and legal frameworks, the company will be able to more effectively work and participate in achieving the larger national objective resembled in achieving economic and social security within the set controls and frameworks. This will be in line with the Company's institutional objectives to becoming the leading microfinance company in Jordan, which serves the needs and requirements of the Community. Mr. Shahateet stressed on the company's adoption of an efficient and flexible strategy to meet the growing and changing requirements and expectations.

Lastly, it is worth mentioning that the company deploys its capabilities and efforts, relying on the "best work" approach in financing micro projects, especially the distinguished ones. The Company also relies on the latest technologies in its growing network of branches, which until date reached 24 branches spread throughout the Hashemite Kingdom of Jordan.

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