Capital Bank of Jordan is part of Capital Bank Group, one of the largest banking institutions operating in Jordanian and regional markets serving businesses, SMEs and individuals. Focusing more and more on the SME segment since its inception in 1995, the bank has a binary strategy whereby it directly serves well-established medium to large-sized SMEs, and small businesses through partnerships with Fintechs. local and other alternative SME lenders as a means of reaching all layers of the MSME ecosystem.
To support and strengthen Capital Bank of Jordan’s efforts to reach underserved MSMEs, FMO will provide a NASIRA loan portfolio guarantee covering loans to young entrepreneurs and entrepreneurs affected by COVID-19. The underlying loans will be used for income generating activities.
Speaking about the Guarantee Program, Director of Financial Institutions of Capital Bank Jamal AlQudah said, âAs a leader in the field of SME finance, Capital Bank has a deep understanding of the important role played by the sector in the economy. national, we express our gratitude. to FMO and the European Commission for their support. This financing, which will strengthen the sector in the wake of the exceptional circumstances induced by the coronavirus pandemic, will allow companies to maintain their liquidity and remain financially agile. This in turn will lead to sustainable development through private sector growth and employment opportunities.
EU Ambassador to Jordan Maria Hadjitheodosiou said: “The European Union is very satisfied with this transaction between FMO and Capital Bank of Jordan, with the support of the guarantee provided by the European Fund for Sustainable Development. Our excellent cooperation with FMO as part of their flagship initiative NASIRA, helps promote and support financial inclusion, not only in Jordan but also in other countries in the region.“
âWith the Guarantee Program at Capital Bank of Jordan, we aim to unlock funds to support MSMEs. At the same time, by covering Liwwa and Sanadcom’s portfolio with the NASIRA program, we intend to contribute to the growth of a sustainable local financial ecosystem and mobilize local savings â, says Huib-Jan de Ruijter, Chief Investment Officer ai by FMO.
About the Capital Bank Group
Capital Bank Group is one of the largest banking institutions operating in the Jordanian and regional markets, with assets of 4 billion Jordanian dinars, while the total rights of its shareholders amount to almost 400 million Jordanian dinars. .
The Capital Bank group comprises Capital Bank, which was established in 1995, and since then its business has grown to become one of the leading Jordanian banks specializing in providing integrated packages of investment banking solutions and services. and commercial designed to meet the requirements of businesses and individual customers.
In 2005, Capital Bank (Jordan) bought the majority of the shares of the National Bank of Iraq (61.85%), which enabled the Bank to develop its products and services, strengthen its anchoring and financial inclusion in the level of Iraq, to ââsupport export activities, and provide all services to Jordanian companies operating in Iraq. The National Bank of Iraq recently obtained the necessary approvals to establish a branch in Saudi Arabia.
Meanwhile, Capital Investments, a wholly owned subsidiary of Capital Bank, established in 2006, provides specialist investment banking services to its clients through its offices in Jordan and the United Arab Emirates International Financial Center / Dubai. (DIFC).
Towards the end of 2020, and as part of its expansion plans, the Capital Bank Group acquired the operations of the Lebanese Bank Audi in Jordan and Iraq, where the branches of Capital Bank grew to 28 and the National Bank from Iraq to 18.
For more information, please visit the Capital Bank website: www.capitalbank.jo
FMO is the Dutch entrepreneurial development bank. As a leading impact investor, FMO supports sustainable private sector growth in developing countries and emerging markets by investing in ambitious projects and entrepreneurs. FMO believes that a strong private sector leads to economic and social development and has a proven track record for 50 years in empowering people to use their skills and improve their quality of life. FMO focuses on three sectors with high impact on development: financial institutions, energy and agribusiness, food and water. With a committed portfolio of â¬ 9.7 billion covering more than 85 countries, FMO is one of the largest bilateral private sector development banks in the world. For more information, please visit www.fmo.nl
NASIRA is an innovative financial program that supports young entrepreneurs, women and migrants in sub-Saharan Africa and countries neighboring Europe. From April 2020, the scope is expanded to also reach small entrepreneurs affected by COVID-19 in the same regions. NASIRA uses collateral to allow local banks to on-lend to underserved entrepreneurs. The aim is to enable local banks to extend loans to groups that they normally perceive as too risky. Through what is called ârisk sharingâ, NASIRA reduces the perceived and actual risks of lending to vulnerable and underserved parts of the population. The NASIRA guarantee is part of the EU’s external investment plan, which, by investing â¬ 5.1 billion in EU funds, is expected to mobilize more than â¬ 50 billion of total investment from the sectors public and private. It will enable small business owners to access affordable loans through local banks, microfinance institutions and other non-bank financial institutions. For more information, please visit: http://www.nasira.info/
Â© Press release 2021