The Board Directors of the Jordan Loan Guarantee Corporation, appointed H.E. Dr. Mohamed al-Jafari as the Director General of the Jordan Loan Guarantee Corporation starting 3rd July, 2011, as a successor to H.E. Dr. Jamal Salah.

Dr. Mohammed al-Ja’fari holds a PhD in Finance from the Manchester Business School, and a Master's degree in Economics and Statistics from the University of Jordan, and a B.A. in Economics from Yarmouk University.

He has held the position of Director General of the Deposit Insurance Corporation since the beginning of 2004. He also worked as Commissioner of Finance & Administration at the Aqaba Special Economic Zone Authority during the period 2002-2003, and also held several positions in the Central Bank of Jordan during the period 1986-2002.

A cooperation agreement between JLGC & Tamkeen Leasing Company

A cooperation agreement was signed at the JLGC offices in Amman on Tuesday 31 May 2011, between JLGC & Tamkeen Leasing Company to guarantee their financial leasing operations. The agreement was signed by JLGC’s Director General H.E. Dr. Jamal Salah and Tamkeen’s Director General, Mr. Jamal Fariz.

Tamkeen leasing company is the latest addition to INVESTMENT BANK Group, established to meet the growing needs of financial leasing services in the Jordanian market & launched its operations since the first quarter of 2011.

Tamkeen offers a full set of operational financial leasing structured to comply with the client’s activities and financing requirements, in addition to provide financial leasing services that comply with Al Sharia Islamic law, addressed to all economic sectors (individuals, SMEs and large companies). Tamkeen plans to raise the level of interest in the services provided to targeted markets to meet their financing needs through spreading the concept of leasing and its economic & financial benefits.

This agreement will contribute to increase the size of credit facilities granted by Tamkeen, and enable financial leasing of productive projects in the economy on the bases of their feasibility and cash flows.

Financial leasing which is considered to be a highly effective funding tool, very popular in developed countries to finance capital assets associated with the operational productivity support, and that contribute to the development and of various economic sectors.

JLGC continues to adapt its guarantees to facilitate the different types of financing for economic projects in order including the guarantee of the risks for this type of financing (leasing) leading to the acquisition, which would increase the degree of dependence on the feasibility of financing such economic projects instead of relying on the availability of traditional collaterals.

Re-circulation of the company's shares on the Amman Stock Exchange

Upon the decision of the Board of Directors of Jordan Loan Guarantee at its meeting held on 01.03.2011 the Board decided to cancel the merger between the Jordan Loan Guarantee Corporation (JLGC) and the Jordan Mortgage Refinance Company (JMRC) because of the existence of legal barriers that prevent the implementation of the process of effective merger of the two companies. The Amman Stock Exchange re-circulated the shares of the two companies for trading starting 06.03.2011.

         1- JLGC letter to the Jordan Securities Commission

         2- JLGC letter to the Amman Stock Exchange

         3- Amman Stock Exchange Letter

17th Annual General Assembly Meeting of the Jordan Loan Guarantee Corporation

The Regular 17th Annual General Assembly Meeting of the Jordan Loan Guarantee Corporation will be held in the Central Bank of Jordan at 12:00 Noon on Tuesday 22/3/2011 to discuss matters on the agenda.

Agreement Signed with the Al Ahli Leasing Company

On Sunday, 17 October 2010, at the JLGC headquarters, a working agreement was signed between the Jordan Loan Guarantee Corporation & Ahli Leasing Company, under which the risks of leases offered by the Ahli Company will be guaranteed by JLGC.

The agreement was signed by Director General of the Jordan Loan Guarantee Corporation, Dr. Jamal Salah, and Mr. Nibal Freihat, General Manager of the Ahli Leasing Company.

This agreement will contribute to increase the size of credit facilities granted by Al Ahli Leasing Company to productive economic projects, based on the feasibility and cash flow of projects through financing various assets.

Al Ahli Leasing Company is a private shareholding company registered with a capital of JD 20 million owned by the Ahli Bank. The company began its work in the banking market of Jordan since the beginning of 2010 to meet the needs for leasing to various economic sectors, to achieve its development and increase the efficiency and that of the Jordanian economy.

The Jordan Loan Guarantee Corporation continues to adapt to the new markets of the financing institutions to finance the different economic projects and open the doors to guarantee the risks of this type of financing, which leads to the acquisition. The JLGC guarantee increase the degree of dependence on the feasibility of the financed projects, instead of relying on the availability of traditional collaterals to qualify for adequate financing.

A World Bank Delegation visits JLGC

Under a study conducted by the World Bank on the financing of small and medium size enterprises, a World Bank delegation visited the offices of the Jordan Loan Guarantee Corporation to examine the Jordanian loan guarantee experience, which is the only company of its kind operating in Jordan. JLGC’s primary objective is to facilitate the financing for small and medium enterprises, through banks and other financing institutions.

The aim of this study by the World Bank is finding the best ways to support these small and medium-sized projects, which are considered the main driver of economic development in all countries of the world. This study includes all countries in the Middle East and North Africa.

Facilitating the financing of SMEs through loan guarantee mechanisms is considered an integral part of the Financial aspect of the World Bank study. Other aspects include the legislation and the role of the government relating to the small and medium enterprises.

Autumn 2010 Prague Club meeting

His Excellency Dr. Jamal Salah the Director General of the Jordan Loan Guarantee Corporation attended the autumn 2010 Prague Club meeting which was held in Zagreb, Croatia during the period of 26-29/9/2010.

The Prague Club is an information exchange network for new and maturing insurers of export credit and investment. It was established to support members to develop their export credit and investment insurance schemes and facilities. It provides this support by hosting technical discussions at two yearly meetings, as well as facilitating ad-hoc information exchanges. The Prague Club currently has 33 members from across the globe including JLGC.

During the meeting, Dr. Jamal presented a paper entitled “Selling Credit Insurance after the Crises” which represented the challenges of the latest financial crises on the credit insurance industry throughout the world and in Jordan.

Second Annual Meeting of the Aman Union in Tunis

Dr. Jamal Salah, Director General of JLGC accompanied by Mr. Zaid Al Kayed Manager of the Export Credit Guarantee Department attended the second annual meeting of the Aman Union in the city of Tunisia during the period between 23rd - 24th Nov.2010 and with the participation of export guarantee institutions working in the Arab and Muslim countries.

During the two day meetings, many topics of importance were discussed concerning collection, the repercussions of the Basel 3 and building an information base for members of the Union.

The meetings were opened under the patronage of the Tunisian Minister of Finance, and welcoming speeches of Mr. Fahad Rashed Al Ibrahim General Manager of Daman in Kuwait, Mr. Abdel Rahman Taha, Executive Director of ICIEC in Saudi Arabia, and Mr. Habib Daldoul General Manager of "COTUNACE" in Tunis.

The importance of this annual meeting comes from the benefits to the participants from sharing in the experiences of members in the field of export credit and networking between them.

Suspension of Trading JLGC shares in the Amman Stock Exchange

Upon the decision of the Jordan Loan Guarantee Corporation's Board of Directors in their meeting held on 01.07.2010, the Amman Stock Exchange suspended trading in shares of the company for an indefinite period, to enable the board to study the proposed bases for implementing the Council of Ministers Resolution No. 438 dated 26 / 1 / 2010 on the merging of the Jordan Loan Guarantee Corporation (JLGC) and the Jordan Mortgage Refinance Company (JMRC).

1- JLGC letter to the Jordan Securities Commision (arabic)

2- JMRC letter to the Jordan Securities Commision (arabic)

3- Amman Stock Exchange letter (arabic)

Annual Conference of the Credit Alliance in Paris

Following the invitation of the French company COFACE, Director General Dr. Jamal Salah attended the annual conference of the Credit Alliance in Paris during the period 18-19/1/2010, where the latest world developments in the Credit Guarantee industry were discussed. JLGC is a member in the Credit Alliance, sponsored by COFACE.

And since the Jordan Loan Guarantee re-insures its Export Credit Guarantees with the COFACE some outstanding issues between the two companies were discussed.

Visits to “Kafalat” Guarantee Company in Beirut & Oseo and Socama Companies in Paris

Arranged by the European Union and the Jordan Enterprise Development Corporation JEDCO, a delegation from the Jordan Loan Guarantee Corporation, headed by the Director General Dr. Jamal Salah visited the Lebanese Loan guarantee company “Kafalat” in Beirut on 22 and 23/2/2010, and two other loan guarantee companies in France, Socama and Oseo during the period 24-26/2/2010.

The JLGC delegation was briefed on the mechanisms used by these companies in the process of granting loan guarantees, and the approach of delegation of authority to participating banks for certain loan purposes and within set ceilings.

These visits came in preparation to launch the loan guarantee scheme within the Services Sector Modernization Programme to be managed under the JLGC umbrella and under the supervision of Jordan Enterprise Development Corporation JEDCO, within the grant from the European Union for The Service Sector Modernization Program in Jordan

Conference of the U.S. Agency for International Development in Cairo

Assistant Director-General for Operations and Technical Affairs Mr. Mohannad Al-Rashdan attended a Conference on the Global Engagement on Access to Finance held by the Agency for International Development USAID in Cairo during the period 2,3 / 2 / 2010.

The conference discussed President Obama's plan to U.S. aid aimed at supporting small and medium enterprises. The conference was attended by representatives of countries from the Middle East, Africa, South and Central and East Asia,.

Arab European Cooperation Conference in Damascus

Mr. Jamal Al-Jaafari Manager of the Loan Guarantee Department, accompanied by, Head of SMEs Loan Guarantee section Mr. Rami Alsamardli attended the first session of the Conference of Arab-European Cooperation in support of small and medium enterprises during the period 20-21/2/2010 in the Syrian Arab Republic.

The Conference was conducted by the Arab Organization for Industrial Development and Mining in collaboration with the Syrian Business & Enterprise Center for the purpose of strengthening cooperation and partnership between Arab and European countries and to achieve maximum benefit from the funds and programs launched by the two regions for the rehabilitation and development of small and medium enterprises and increase their competitiveness and promote exports in particular with the repercussions of the global financial crisis.

Seminar on Export Credit at the Industrial Estates Corporation

H.E. Eng. Amer Al-Majali, Director General of Jordan Industrial Estates Corporation, sponsored a seminar held by the Jordan Loan Guarantee Corporation to introduce (the Jordanian exports credit guarantee scheme). The seminar was held at 11:00 am, on Tuesday October 20th 2009, at the King Abdullah II Industrial Park in Sahab.

The seminar was attended by the Vice President of Jordanian Investors Association and a number of industrial investors and those interested in the field of export credit.

Majali said that the issue of national export development has received widespread attention in recent years and took major concern of all economic and investment policies because of its great importance to the development of the national economy.

Assistant Director General for Technical Affairs Mr. Mohannad Al-Rashdan said that the Jordan Loan Guarantee Corporation has been offering loan guarantees since its establishment. The development of the Jordanian System to guarantee export and domestic credit was set to help Jordanian producers increase their sales in the domestic and external markets.

Dr. Abdullah Hylooz, export credit guarantee advisor, emphasized that any industrial company seeks to market their products in both local and foreign markets. On the other hand the importers and local merchants seek to obtain goods and services from anywhere in the world with the best conditions. This has become possible in the light of freedom and ease of international trade, which increased competition among exporters of the same commodity from around the world.

Dr. Hylooz added that the Jordanian exporters with the help of the JLGC guarantees, can increase exports to their current markets and enter new ones by offering easier payment conditions, without insisting on the opening of traditional LCs. In addition exporters are able to get bank credit for the value of their guaranteed exports as well as their local sales from commercial banks, under appropriate conditions.

Mr. Zaid Al-Kayed, Head of the Export Credit Guarantee Department at JLGC, showed that the total value of exports covered by the JLGC export credit guarantee has increased to $ 500 million, and that there are nearly 28 companies who applied for credit guarantee policies on exports, and added that JLGC has processed 180 policies for both exports and domestic credit guarantees. He noted that industrial companies have moved from traditional bank LCs which was followed in the past, towards the export credit system in view of its effectiveness and protection.

Alexandria Forum: Small and Medium Enterprises Present and Future Strategic Orientation

Upon the invitation of the Union of Arab Banks, H.E Dr. Jamal Salah, Director General of the Jordan Loan Guarantee Corp. participated in the activities of a forum on  small and medium-sized Enterprises entitled: “present and future strategic planning, which was held in Alexandria, Egypt during the 16-17 of July 2009.

 Dr. Jamal presided over a discussion meeting entitled:

 “Role & Initiatives of banks, financial institutions, and Investment Guarantee Institutions for financing small and medium enterprises.”

Several sources of financing for SMEs are available, including specialized lending programs, in addition to commercial banks, which has recently been interested in this kind of financing, where many of them created specialized departments for the financing of small and medium enterprises.

The philosophy of loan guarantee programmes is to encourage commercial banks to provide the funding required to establish and expand small businesses, depending on the feasibility of these projects and the soundness of cash flows rather than to provide the traditional collaterals required by conventional banks normally.

Governments strive to establish loan guarantee companies and institutions to provide the required guarantees to facilitate the financing of SMEs from the banking sector and other financing institutions, based on the borrower's credit rating and ability to re-pay.

Topics:

• Methods of financing SMEs.
• Commercial banks procedures and requirements of financing SMEs
• Reasons for reluctance of commercial banks in financing SMEs.
• Importance of Credit Bureaus and Loan Guarantee Companies to SMEs.

Speakers:

• Mr. Ali Shaker, Chairman of the Board of Agricultural Credit Bank, Egypt.

• Mr. Basil El Hainy, Managing Director, Cairo Bank.

• Mr. Mohamed Abdel-Hamid, Chairman, Credit Risk Company, Egypt.

• Mr. Hamdi Azzam, General Manager of SME Unit, National Bank of Egypt,  Egypt

Advisor assigned for the Export Credit Guarantee Programme

Dr. Abdullah Hylooz commenced his work as an advisor to the Jordan Loan Guarantee Corporation (JLGC).

 As Dr. Hylooz has a long experience extended to 25 years in the field of export credit guarantee, he is supposed to enhance and develop the  Export Credit Guarantee Scheme at JLGC which aims mainly at increasing Jordanian exports by providing insurance coverage against commercial and non-commercial risks which is in case of its occurrence the Jordanian exporter does not receive the value of his exports from the foreign importer,  due to non payment by the importer or due to risks that are beyond importer's control as currency transfer risk.

Dr. Hylooz is one of few Arab experts in the field of Investment and Export Credit Guarantee, as he worked in the Arab Investment and Export Credit Guarantee Corporation since its establishment in Kuwait in 1975.

Dr. Jamal Salah the director general and the employees welcomed Dr. Hylooz hopping him success in his new task.

“The Guarantee and Financing of Exports and Investments in Jordan” Forum

Under the patronage of H.E. the Minister of Industry and Trade, and in cooperation with the Arab Investment and Export Credit Guarantee Corporation (DHAMAN), the Islamic Corporation for the Insurance of Investments and Export Credit (ICIEC), and the Jordan Enterprise Development Corporation (JEDCO), the Jordan Loan Guarantee Corporation organized on Sunday, 31 May 2009 a forum titled “the Guarantee and Financing of exports and investment in Jordan”. This Forum was in the context of strengthening existing relations between (JLGC) and both (DHAMAN)& (ICIEC), which include reinsurance, joint marketing and commercial information exchange and debt collection and management training.

During the forum, exporters, investors and Jordanian banks were introduced to the Export Credit Guarantee Mechanisms and to Investment Insurance and ways to take advantage of services offered by the organizers of the forum. Mechanisms of joint cooperation between (JLGC) on the one hand, and (DHAMAN) & (ICIEC) were explained, which play an important role in supporting the National Arab and Islamic Guarantee Organizations.

This forum aimed to maximize the benefit of the Hashemite Kingdom of Jordan, from the guarantee protection services offered to exporters, investors and financiers in Jordan, which would have a positive effect in increasing Jordan's exports and strengthening its position in the Arab and international markets, and maximizing the role of Jordanian banks in providing the necessary funding in the context of guarantee coverage to keep pace with the evolution and expansion of Jordan's exports.

It is worth mentioning that Jordan is a member of the Arab and Islamic Corporations; (DHAMAN) & (ICIEC), who are both strong and credible financial institutions. The Arab Foundation for the Insurance of Investment and Export Credit (DHAMAN) was rated AA-(stable) by Standard & Poor's, and the Islamic Corporation for the Insurance of Investments and Export Credit (ICIEC) obtained a (Aa 3) degree classification by Moody’s.

Prague Club / Bern Union Spring 2008 Meetings

Dead Sea - Jordan

The Jordan Loan Guarantee Corporation hosted last week during the period 18-22 May 2008 at the Kempinski Hotel in the Dead Sea area the Prague Club / Berne Union spring meeting, which included the world’s major Export Credit Guarantee agencies. The Islamic Corporation for the Insurance of Investment and Export Credit, which is owned by the Islamic Development Bank – Jeddah, was the co-host for the meetings.

Major Export Credit agencies from 30 Arab and foreign countries in Europe, the Middle East, Africa and Southeast Asia in addition to Jordan, which hosted the meeting participated in the conference. During the Prague Club semi-annual meetings, developments in the Export Credit Guarantee Industry are discussed, and experiences among the participants are exchanged.

The opening ceremony was held under the patronage of Mr. Nader Al Dahabi and Dr. Umayya Toukan, Governor of Central Bank of Jordan represented him. Dr. Toukan welcomed the delegates participating in the conference. He presented Jordan’s overall perception of the challenges facing the world over the past decade, pointing out that emerging markets, consisting of China, India and countries of the Gulf Cooperation Council are currently considered world leaders in economic growth while the first world markets are witnessing notable setbacks.

Dr. Toukan also reviewed the achievements of the Jordanian economy, which managed to achieve growth rates of around 6% in past years. He also pointed out that the volume of foreign direct investment during 2007 has reached a new record of more than 3 billion dollars.

Dr. Toukan noted that the monetary policy in the Kingdom had always intended to control any inflationary pressures through balanced performance of banking facilities and balance of payments. And in spite of the fact that the current account deficit in the balance of payments remains a major challenge, it is also a fact that it has been funded through the capital account, as demonstrated by the high foreign exchange reserves of the Kingdom, which amount to more than the value of Jordan’s imports for four months.

Dr. Toukan also referred to a recent report of the International Monetary Fund on the strong performance of the Jordanian national economy in light of a difficult external environment, which oblige us to continue to pursue disciplined fiscal and monetary policies.

Engineer Yarub Al Qudah Executive Director of the Jordan Enterprise Development Corporation also spoke in the opening ceremony and explained the leading role JEDCO played since its establishment in 1972 in support of the Jordanian export activities, which had a great impact in the delivery of Jordanian goods and services to global markets.

Eng. Qudah emphasized the remarkable growth in the Jordanian economy and business and SMEs and the importance of facilitating the funding necessary for them in order to help create new job opportunities and boost the national exports which rose to 5.7 billion U.S. dollars in 2007. He stressed the importance of taking advantage of the agreements signed between Jordan and various countries including the United States and the European Union which opens promising markets for Jordanian exporters.

He also mentioned that the JEDCO is currently in the final stages to set up two funds worth 27 million Euros to support the funding of various economic projects in Jordan.

Mr. M. Said Hammami, Managing Director of the Jordan Loan Guarantee Corporation also welcomed guests, headed by Mr. Konno Chairman and CEO, of the Japanese Export Credit agency NEXI which is also the world’s largest, who came specifically to Jordan to attend the conference.

Mr. Hammami reviewed the achievements of JLGC during the past ten years including the company's operations in the area of Export Credit Guarantees, which rose in the past 5 years by more than 30% per annum to reach the value 110 million dollars in guaranteed policies.

He also noted that cooperation with the Prague Club / Berne Union had begun in 2000 and that this cooperation has led to increasing momentum of the company's operations in this area, through transfer of knowledge obtained by the company, which is the main reason for establishing the Berne Union.

At the end of the opening ceremony, Dr Toukan met with Mr. Konno, Berne Union’s President and Mrs. Kimberly Wiehl Secretary General of the Prague Club/Berne Union and discussed cooperation between the Union and the Kingdom. Mr. Konno and Ms. Wiehl commended the performance of the national economy of Jordan and expressed their happiness to visit the Kingdom.

Cooperation Agreement between Jordan Loan Guarantee Corporation (JLGC) and the Iraqi Company for Bank Guarantees (ICBG) Ltd.

Jordan Loan Guarantee Corporation and The Iraqi Company for Bank Guarantees Ltd signed a cooperation agreement on August 1st, 2006. The agreement was signed during a visit by the Iraqi Company for Bank Guarantee scheduled meeting in Amman, Jordan. JLGC offered to share it's know- how and expertise with ICBG by providing training to its staff and Iraqi bankers who will administer the guarantee schemes. 

Over a period of three days JLGC board of directors, managers and local senior bankers were available to provide the Iraqi delegation with insights and share their experience with JLGC.

JLGC department managers presented and shared with the delegation the daily operations of their department after a short welcoming remark from the Managing Director Mr. Hammami, at the end of each presentation many questions where entertained.

Signing Cooperation Agreement with BLOM Bank

The Jordan Loan Guarantee Corporation in its continuous effort of supporting SMEs, signed an agreement with BLOM Bank at the JLGC offices in Amman which emphasized the procedures and conditions involving the guarantee operation including the indemnifications of the default guaranteed loans provided by the bank.

JLGC through it’s Industrial Finance Department (EJADA), aims to provide the necessary guarantees to encourage different financing institutions to provide small and medium enterprises with the necessary funds they need.

Signed the agreement Dr. Adnan Al Aaraj the General Manager of BLOM bank and Mr. M. Said Hammami JLGC’s Managing director.

With this cooperation with BLOM the number of participating banks in this guarantee programme becomes 17 banks.

Transfer EJADA fund to JLGC

The European Commission signed a number of agreements with the Ministry of Planning and International Cooperation, the Central Bank of Jordan, and the Jordan Loan Guarantee Corporation, facilitating the transfer of the JD 5.1 Million Fund to JLGC, which will increase its guarantee providing power and therefore promoting its developmental role.

The fund was run by EJADA in cooperation with JLGC’s Industrial Finance Programme since 2001 to help provide the necessary guarantees needed by the banks to finance Jordanian SMEs.

Since then 117 loans were guaranteed through this fund with a total value of JD19 Million and a JD 12 Million Guaranteed amount which contributed to the success of the financial aspect of the EJADA Programme, and proved worthy of the ownership of the fund.

Second Meeting for Supporting Agencies of SME’s

JLGC joined the National Fund For Enterprise Support (NAFES) & Empretec Jordan UNCTAD's integrated capacity-building programme, the Office for Community Development in Aqaba’s Special Economic Zone in the second “SME Supporting Agencies” meeting on the 8th of March 2006 in Aqaba.

The seminar aims to promote these agencies to Aqaba’s SMEs within the Special Economic Zone and present the financial & technical support available to them.

JLGC’s Managing Director presented the various programmes of the company designed to help SMEs in various regions of the Kingdom.

Meeting with Branch Managers of Banks

To further promote the company’s different programmes and services, JLGC continued its marketing activities through meeting branch managers of banks working with the company in the different parts of the country. These meetings aim to increase awareness of the loan guarantee culture within these branches and discuss procedures and any difficulties arising in the process.

The 1st meeting targeted Jerash, Ajloun, and Kufranjeh where 12 branch managers were present, followed by a meeting in Aqaba with 20 managers and another meeting in the Wadi Mousa, Tafeleh and Maan areas with10 more branch managers. Mafraq also was on the marketing map where JLGC representatives met another 8 managers.

The marketing team plans to continue these meeting to cover all areas of the Kingdom.

Understanding of Guarantee for Universities’ students

JLGC began lecturing university students on the company’s line of work a few years ago in order to give the knowledge about loan guarantees to the future entrepreneurs, business men, bankers and decision makers of Jordan.

These lectures not only aim to promote the company’s programmes but also show the impact the loan guarantees might have on enhancing the financing of SMEs and eventually on the overall economy.

On November 30, 2005 JLGC gave some students of Yarmouk University in Irbid about the SME Loan Guarantee Programme. The 2 lectures were given to students in Amman Ahliyeh University on the 20th and the 28th of December 2005 showing the mission of JLGC and its main objective in helping to overcome one of the biggest problems facing SMEs which is the difficulty in obtaining the necessary financing.

First Exporters Meeting

JEDCO the Jordanian Enterprise Development Corporation organized a meeting on the shores of the Dead Sea during the period of 17th – 19th November 2005, attended in addition to JLGC by a number of business men and exporting companies and other organizations working to promote development of the national economy.

This Gathering aimed to put a futuristic vision and framework for a national strategy for the Jordanian Exports to work together with the overall strategy for economic development Jordan is implementing.

JEDCO presented its role in promoting Exports through opening new markets and encouraging export oriented investments and praised the JLGC’s Export Guarantee Programme for doing its own contribution in the promotion of Jordanian exports.

Micro and Small Project Seminar

JLGC participated in the conference organized by the Development and Employment Fund on the role the small and micro enterprises play in the breaking of the unemployment and poverty cycle. The conference was held during the period of 22nd – 23rd of November 2005 and evaluated the status of these businesses in Jordan ad the way to improve the environment in which the operate.

Representatives from JLGC gave an overview of the SME Loan Guarantee Programme at the company and its role in facilitating the necessary financing these enterprises need.

Irbid Chamber of Commerce Seminar

The Managing Director Mr. M. Said Hammami presented on October 18th 2005 the Jordanian experience in guaranteeing the risks of lending the small and medium businesses to 100 members of the Irbid Chamber of Commerce.

He also highlighted the challenges and future aspirations of JLGC in order to realize its mission and goals.

Signing Agreement with The Islamic Corporation for the Investment and Export Credit (ICIEC)

To develop new ways of cooperation with Arab counterparts, JLGC signed on October 2nd 2005, a reinsurance agreement with the Islamic Corporation for the Investment and Export Credit ICIEC member of the IDB, the Islamic Development Bank Group based in Jeddah, Saudi Arabia
This agreement will allow JLGC to reinsure its export guarantees with the ICIEC and increase the company's Credit Guarantee Programme potential.
On behalf of ICIEC Dr. Abdel-Rahman Taha, General Manager signed the agreement with Mr. Hammami.

Signing Agreement with The Jordan Upgrading and Modernization Programme (JUMP)

On the 8th of October, 2005 JLGC signed a memorandum of understanding with the Jordan Upgrading and Modernization Programme (JUMP)
JUMP is an independent national Programme managed by a Steering Committee headed by HE Minister of Industry and Trade and it involves equal representation from government and private sectors whose mission is To improve and sustain the competitiveness of Jordanian enterprises through building their managerial capabilities and productive capacities
Mr. Yarrub Quthah signed the MoU on behalf of JUMP with Mr.Hammami on behalf of JLGC.
Present at the ceremony was HE Mr. Sharif Elzu'bi Minister of Industry & Trade and his deputy, and HE Dr. Umayya Toukan Governor of the Central Bank of Jordan, JLGC's Chairman of the Board.
Various leaders of the Jordan business community, as well as CEOs from the Jordanian commercial banking sector also attended the event.

Signing Agreement with The Jordan Enterprise Development Corporation(JEDCO)

On the other hand JLGC signed an agreement with JEDCO the Jordan Enterprise Development Corporation whose mission in the first place to develop and increase Jordanian exports and open new markets for them and help encourage investments aiming toward exporting.
Through meetings and seminars and direct contact, JEDCO will help increase the Jordanian exporter's knowledge about JLGC's programmes and services particularly the Export Credit Guarantee Programme which covers the exporter's risk abroad.
Dr. Wael Al Akayleh Chief Executive Director of JEDCO signed the agreement with the Managing Director Mr. Mohammad S. Hammami on October 2nd 2005 at the offices of JLGC in Amman.

Bank of Jordan Seminar

As a request from the management of the Bank of Jordan, JLGC's related department heads presented a specialized lecture on August 14th 2005, about the company and its programmes and services, and the procedures and relative issues of the loan guarantee operation.
As a request from the management of the Bank of Jordan, JLGC's related department heads presented a specialized lecture on August 14th 2005, about the company and its programmes and services, and the procedures and relative issues of the loan guarantee operation.
The lecture was attended by a number of the Bank of Jordan employees.

Amman Chamber of Commerce Seminar

Managing Director Mr. M. Said Hammami presented the Jordanian experience in loan guarantees and issues related to guaranteeing the risks of financing SMEs.
The presentation was held on September 14th 2005, and was attended by 120 members of the chamber.
The future vision of JLGC and its role in the development of the SME sector in Jordan was presented, and discussions on how to overcome the difficulties and challenges in financing these SMEs that are facing the company in realizing its goals and accomplishing its mission.

EMPRETEC–JORDAN CLUB
Empretec-Jordan is a unique program aiming to promote sustainable SMEs and help promising entrepreneurs through its training workshops and technical support.

The program was initiated in 2002 from the offices of JLGC, through the United Nations Conference on Trade and Development UNCTAD, and is under supervision of the United Nations Development Program UNDP in association with the Jordanian Government represented by the Ministry of Planning and International Cooperation.

The Empretec-Jordan Club was established in August 2005 through the effort of graduates from these workshops in order to maintain cooperation between them and build a database to facilitate this network.

Mr. Ez El Deen Katakhda who was voted president of the club on December 18th 2005, said the membership in the club is restricted on Emprectos and Empretecas who attended the workshop and completed it successfully at least once.

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