I make a living off of my family coffee kiosk. However, with all the electric appliances used in the business, most of the profit went to the energy expenditure. With Taqati loan, I installed a solar energy system which helped decrease my energy bills while my household income increased!
Amal Al-Misadin - Buseira
- > 136,000 active borrowers
- > 96% of active borrowers are women
- Total amount of loans disbursed is > 661,575,358
- Repayment rate is > 98%
- > 1,000,000 loans
- > 31 international and local awards
- > 63 branches
- > 700 employees
- > 68% of employees are women
The Board of Directors of Microfund for Women (MFW), headed by Ghaiath Sukhtian, decided to drop all operational issues at the issuing of this statement with a claim value of between 500 and one thousand JOD; In solidarity with the national Initiative launched by His Majesty King Abdullah II to assist Al – Gharmat, to alleviate their suffering and that of their families.
According to its statement issued on Tuesday, in implementing the Initiative, MFW relies on the previously announced requirements of the Ministry of Religious Endowments Holy Sites. In addition, the company adheres to the definition issued by the national debt collecting bodies.
According to an official letter sent by the Central Bank of Jordan, the number of women beneficiaries eligible for the Initiative is considered payable. Therefore, any court orders against them will be revoked.
Concerning the beneficiaries who were subject to judicial issues of less than JOD1,000 and did not meet the Initiative’s requirements, MFW confirmed that it would suspend the executive proceedings against them for six months from the date on and advise them of the installments should be paid during that period.
According to its statement, MFW, throughout its history, had not sued any of the beneficiaries and implemented this Initiative to show support to Jordanian women and emphasize the strong-rooted belief in the role of women in the advancement of their families and society.
MFW’s statement explained that it had dropped the majority of cases with a value of fewer than 500 dinars in the past years without announcing. This is because they were abiding by the Government definition of the “Ghaarema” at that time, which was considered required for judicial execution when the beneficiary is back on their payments and accumulated debt of JOD500.
According to its statement, MFW demanded that the Enforcement Act be amended so that the imprisonment of any citizen, whether a man or a woman, based on unpaid payments and debt of fewer than 1,000 dinars would be suspended; it is considered against fundamental human rights.
MFW also confirmed its commitment to its beneficiaries, whom it considered the company’s “inspiration and raison d’être,” with approximately 150,000 beneficiaries of the company’s financial services, indicating that their reimbursement rate was more than 98%.
Microfund for Women, established in 1996, is a private, non-profit, private equity company operating under the Central Bank’s supervision.