Ethmar for Islamic Microfinance

Ethmar for Islamic Microfinance was established 2015 a Jordan’s first Islamic microfinance institution in order to address the supply and demand gap for acceptable loan services for many in Jordan and the region, including entrepreneurs, small businesses and students. As a private shareholding company licensed by the Central Bank of Jordan, Ethmar utilizes an innovative and inclusive financial Sharia compliant model and works in affiliation with Tamweelcom - Jordan Microfinance Company - a Noor Al Hussein Foundation. 

Through a diverse network more than 1,000 merchant, Ethmar provides financial solutions that are designed to improve the standard of living and address many day-to-day challenges borne by a wide segment of the society by offering a variety of Islamic modes of financing such as Murabaha, Ju'alah, and Istisna'a. Ethmar also contributes to alleviating poverty and reducing unemployment of low-income individuals - particularly micro and small entrepreneurs, employees, retirees and students. 

• Students and Early Career Professionals to acquire a 2-year Diploma, 4-year Bachelor's degree, or a short-term vocational and technical professional certificate in high-demand fields. 
• Licensed entrepreneurs to develop their businesses through the purchase of production machinery and equipment. in the commercial, service and industrial sectors,
• Owners of home-based businesses to establish or develop their existing businesses through the purchase of goods, machinery, tools, and equipment. 
• Employees and retirees to purchase goods such as home furniture, home maintenance, electrical and electronic appliances. 

• Small and medium entrepreneurs increased their income by 42%, and 81% of them hired an average of 2 employees.  
• Youth beneficiaries have grown to 40%, using Ethmar’s services to continue their life-long learning and attain a better future through the educational program. 
• Ethmar was awarded the 2018 Global Islamic Micro Forum Award for developing a financial tracking system for Islamic compliant loans. 
• Ethmar’s success in the inclusion of reluctant borrowers due to religious reasons, into the economic stream is evident as 80% of their clients to date are first-time recipients of financial services.

Technical and Vocational Education

In 2019, Ethmar pioneered an educational program in collaboration with several technical colleges and vocational centers, to effectively contribute to decreasing the rate of unemployment. Youth -  even those without a high school diploma, unemployed university graduates, and others who aspire to pursue a professional career that is in high demand in the labor market. Several of these educational programs guarantee up to 80% employment opportunity upon graduation.