The Jordan Loan Guarantee Corporation (JLGC) and Jordan Islamic Bank (JIB) have signed a cooperation agreement to implement the “Guarantees for Employment” Program, aimed at facilitating access to Sharia-compliant financing for small and medium-sized enterprises (SMEs), supported by JLGC guarantees. The program seeks to strengthen the ability of financed businesses to expand and create new job opportunities, contributing to economic growth, supporting employment, and reducing unemployment in the Kingdom.
The agreement was signed by JLGC Director General Mr. Adnan Naji and Jordan Islamic Bank Chief Executive Officer Dr. Hussein Saeed, at the headquarters of Jordan Islamic Bank.
Mr. Naji stated that the “Guarantees for Employment” Program represents an important tool for mitigating financing risks for banks and enhancing their capacity to provide additional credit facilities to productive sectors, thereby supporting economic growth. He emphasized the importance of the partnership with Jordan Islamic Bank in achieving the program’s objectives and expanding its beneficiary base.
Dr. Saeed highlighted that the launch of the program reflects the Bank’s commitment to supporting economic activity, promoting financial inclusion, and financing SMEs. He noted that the program represents an essential link in the financing chain supporting local development by providing financing solutions compliant with Islamic Sharia principles, enabling businesses to expand and achieve sustainability, and contributing to the creation of new employment opportunities for Jordanian youth.
The agreement reflects both parties’ commitment to strengthening cooperation between Jordan Islamic Bank and JLGC, providing financing instruments covering various sectors, enhancing guarantee mechanisms for productive businesses, and contributing to increased economic activity in the Kingdom.
