Ahli Microfinance signed MoU with German Sparkassenstiftung for International Cooperation

Jul 26, 2021

Ahli Microfinance Company and the Savings Banks’ Foundation for International Cooperation, signed a memorandum of understanding aimed at supporting the owners of micro and small enterprises and productive families, under which, financial and technical support is provided in order to develop the services given to the clients of Ahli Microfinance Company.

This agreement came as part of a series of initiatives of the program, to enhance the resilience of population groups affected by crises and to confront the effects and repercussions of the Coronavirus in the Hashemite Kingdom of Jordan. It is also managed by the Savings Banks’ Foundation for International Cooperation "Sparkassen", and funded by the German Federal Ministry for Economic Cooperation and Development in cooperation with the Microfinance Institutions Network (development).

In light of the agreement with Ahli Microfinance Company, financial support will be provided to clients affected by the Corona pandemic, from owners of micro and small enterprises and productive families, as the inclusion of these groups in the program will contribute to alleviating the effects of the pandemic and increasing the prospects for their sustainability.

Dr. Ahmed Al-Hussein, Chairman of Directors’ Board in Ahli Microfinance Company, said: “We always look forward, within our vision which stems from the vision of the parent company, Jordan Ahli Bank, to building sustainable partnerships that benefit the company’s clients in the first place, and we thank the Savings Banks’ Foundation for International Cooperation for their trust in the partnership with Ahli Microfinance Company and we look ahead for more cooperation in the next stages.”

After signing this agreement, Mr. Marwan Shehatit, General Manager of Ahli Microfinance Company, added: "We are pleased to partner with the Savings Banks’ Foundation for International Cooperation, as this partnership comes to meet the strategic goals between the two parties and benefit the owners of micro and small enterprises affected by the consequences of the Corona pandemic."

Shehatit added: "As a local company, we always strive to do our job to support owners of micro and small enterprises, especially those who have been negatively affected by the consequences of this unprecedented crisis. We always look to support local communities and seek to create opportunities for self-employment for all groups of women, youth, and entrepreneurs by providing financial and non-financial services that contribute to improving the living and economic standards of this category, which contributes to achieving common prosperity and improving the local economy following this pandemic.

Ms. Lida Nafeh, Program Director and representative of the Sparkassen Foundation in Jordan said: "We are proud of our partnership with the Ahli Microfinance Company, which is part of the Foundation's first program to support the affected micro and small enterprises’ owners in Jordan, in addition to strengthening the potential of microfinance institutions. Banks Sparkassen was established in Germany as a microfinance institution targeting low-income earners and has since grown into one of the largest financial groups in Europe; a group that successfully combines outstanding professionalism with strong social reinforcement."

It is noteworthy that the Ahli Microfinance Company is one of the Jordan Ahli Bank’s companies that was established in 1999 with 26 branches spread throughout the Kingdom. It comes with an aim to enable owners of micro and small enterprises to establish and develop their businesses while equipping the largest possible number of them with financial and non-financial services, and providing responsible funding that contributes to improving the overall economic and social level of the beneficiaries.