The Jordan Loan Guarantee Corporation was established as a public shareholding company in accordance with the Jordanian Companies’ Law and registered in the registry of the public shareholding companies under number 242 on 26/3/1994. Its establishment was formally declared in the Founders Assembly meeting held on 17/4/1994.
It is worth mentioning that the establishment of JLGC came in response to the decision undertaken by the Cabinet session of 24/8/1993, which approved the establishment of a public shareholding company for guaranteeing loans to small and medium sized organizations. The subscription of JLGC’s shares would be limited to the Central Bank of Jordan (on behalf of the Government of Jordan), financial institutions, insurance companies, and other related establishments. Its capital was to be JD 7 million.