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Sunday 24 September 2023

Housing Bank Holds a Workshop for Industrial Clients in Collaboration with the Jordan Loan Guarantee Corporation

work-shop-for-indusrtial.jpgHousing Bank recently hosted a workshop at its headquarters in cooperation with the Jordan Loan Guarantee Corporation (JLGC). The workshop was attended by a group of its clients from the industrial sector, as well as representatives from various Jordanian industrial companies.


The workshop aimed to raise awareness among industrial clients in the exporting sector about the bank's key financial, financing, investing, banking facilities, and business tools. These offerings are specifically designed to cater to the needs of the industrial sector and its institutions of all sizes. In addition to introducing them to export credit guarantee programs that guarantee loans and aligning them with the needs of their institutions, it ensures the enhancement of their competitiveness, growth, sustainability, and expansion. This will enable them to successfully enter new external markets, thereby continuing to participate in economic and social development.

Commenting on this occasion, the Chief Business Officer of Housing Bank, Vasken Ajemyan, said, "The workshop aims to ensure that we maintain our leadership role in supporting the industrial sector. This includes addressing the challenges it faces and providing tools that enhance its capacity. We acknowledge the significance of the industrial sector as a vital component of the economy in meeting the demands of both local and foreign markets for Jordanian products. This involves ensuring a steady supply of domestic goods, maintaining a favorable balance of payments through exports, attracting foreign currencies and investments, stimulating various economic sectors, and generating employment opportunities."

For his part, the Director General of the Jordan Loan Guarantee Corporation, Dr. Mohammed Al Ja’fari, confirmed that the joint workshop with Housing Bank represents a serious effort to enhance opportunities for industrial companies. The focus will be on providing SMEs with appropriate credit options, along with concessional guarantees. This is done to enhance efficiency and provide a comprehensive introduction to many of the company's programs. One of the most prominent programs is the Export Credit Insurance Program, which offers significant support. It provides 75% support for SMEs and 50% support for large companies.

The workshop was organized as part of the ongoing partnership between Housing Bank and the JLGC, which began in 2022. The aim of this partnership is to stimulate lending and provide financing solutions for companies, including industrial ones, on concessional terms. This includes offering loans of up to JOD200 thousand with reduced interest rates for a duration of up to 24 months, to finance its purchases. Additionally, the bank covers the guarantee of the risks associated with these loans through the "fast track" program, which is in the field of financing with the lowest standard time.

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