KHF Outreach
Tamweelcom and Zain Lead Microfinance Mobile Services in the Region
28th December 2010
Her Majesty Queen Noor overesees signing ceremony
Her Majesty Queen Noor oversees signing Ceremony.

Tamweelcom has signed a one-year exclusive agreement with Zain Jordan that introduces, for the first time in the region, microfinance mobile services.

The micro entrepreneurs' e-commerce service will save Tamweelcom's clients time and money by allowing them to conduct financial transactions over their cell phones.

The first phase of the agreement, set to begin in early January, will enable Tamweelcom clients to use their mobile phones to repay their loans.

The second phase of the agreement, which will begin in the spring, will allow clients to receive renewed loans on their mobiles.

At Tuesday's official signing ceremony, Her Majesty Queen Noor commended Tamweelcom's innovation in introducing, for the first time in the region, microfinance mobile services in cooperation with Zain:

"Once again Tamweelcom has proven its ability to initiate and implement international best practices in providing micro credit assistance to entrepreneurs," said Queen Noor.

"This initiative will facilitate financial procedures and remove obstacles that have hindered access to Tamweelcom funding for clients in the past, contributing to the advancement of small enterprises in Jordan, and providing

a model for the region."

Zain Ceo Dr. Abdul Malek Jaber stated that "this agreement that is being provided through Zain's E-Mal for the first time in Jordan is aligned with Zain's vision to employ technology in serving the local community and simplifying peoples' lives."

He added that "Zain is keen in its strategy touse the mobile not only as a tool to communicate but also as a means for several services that reduce time and costs."

He highlighted this agreement as yet another commitment from Zain towards its social responsibility, be it in the training and education sector or in upgrading services provided to citizens in cooperation with the government, private sector and civil society.

Tamweelcom CEO Ziad Rifai remarked, "Using E-Mal services through mobiles is a way for Tamweelcom to provide its clients from small micro enterprises and low income entrepreneurs a new value by reducing clients' efforts in reaching Tamweelcom's offices to acquire the loan or pay off their monthly installment which will also help reduce costs and time needed to conclude or complete their financial transactions."

Rifai added, "We are proud of our agreement with Zain to provide this service for the first time in the microfinance sector. This will help Tamweelcom expand its outreach and efficiency of service in Jordan, especially in the poverty pockets."

Tamweelcom, a nonprofit microfinance company founded in 1999 and owned by the Noor Al Hussein Foundation (King Hussein Foundation) seeks to fight poverty and unemployment in the Kingdom by providing entrepreneurs with loans to start their own businesses.

To date the microfinance company has dispersed 192,700 loans according to Tamweelcom CFO Firas Saqfelhait. These loans have been financed using more than JD 85 million, and 93% of the loan recipients were women.

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