Noor Al Hussein Foundation

Community Development - Micro-finance

Tamweelcom

In 1999, the Foundation launched a major urban-based, micro-finance institution for aiding “unbankable” entrepreneurs. Tamweelcom, previously known as the Jordan Micro Credit Company, grew out of NHF’s successful micro-lending programs in remote rural areas throughout the Kingdom. Tamweelcom, initially funded by the U.S. Agency for International Development, provides micro-finance to low- and middle-income entrepreneurs, both men and women, to start new businesses or improve existing ones. Tamweelcom branches are located in Amman, Salt, Zarqa, Irbid, and Aqaba; an additional branch in Madaba is scheduled to open by the end of 2006.

As of April 2006, 90.25% of the more than 11,087 active borrowers were female, and women made up 88.8% of all repeat borrowers, with a near-perfect repayment rate of 99.6%. Tamweelcom offers a variety of loan packages tailored to the needs of clients from different backgrounds and with different business interests, all with modified credit limits, interest rates, and repayment schedules. Borrowers receive increasing lines of credit as they successfully meet their repayment goals, which fosters responsibility and a more sophisticated level of entrepreneurship. Tamweelcom assists those who otherwise would not have access to commercial credit because of a lack of sufficient collateral. The sectors served by Tamweelcom are 83% commercial, 8% industrial, and 9% services. To date, Tamweelcom has dispersed nearly 30,689 loans worth over JD 18,596,000 million.

For more information visit the JMCC website.

Improvement Indicators

Tamweelcom is considered a leading microfinance institution based on performance indicators and ratings by international auditors. In June 2005, PlaNet Rating Commission granted JMCC a (B+), CGAP presented JMCC with a Merit Award, and Mix Market assigned JMCC the highest rating for transparency among microfinance institutions in the region.

See Quality of Life Project and Poverty Pockets Program for more microfinance initiatives.

For more information visit Tamweelcom Website: www.tamweelcom.org

Performance Statistics (until July 2006)