AMMAN - Her Majesty Queen Noor has praised the Jordan Microcredit Company (Tamweelcom) as an illustration of His Majesty the late King Hussein's vision for Jordan as a centre of innovation in the region and an exporter of expertise.
At the annual meeting of the Tamweelcom board of directors on Saturday, Queen Noor commended the company's success and achievements during the past year.
The meeting reviewed strategic options and legal frameworks to enable Tamweelcom, an initiative of the King Hussein Foundation (KHF), to expand the outreach of its microcredit loans, and transfer its expertise to neighbouring countries, according to a KHF statement.
During the meeting, Queen Noor, who is chairperson of the KHF, honoured former Tamweelcom chairman, His Highness Al Sharif Shaker Ben Zaid, and former board members, Amer Al Salti Rateb and Al Wazani, for their distinguished efforts and continued support for the company during the past years. The board had earlier elected Imad Ayoub as the new chairman.
Tamweelcom Executive Director Ziad Rifai pointed out that the company's ability to provide marketing channels to its clients has greatly contributed to increasing sales for small enterprise owners, who previously suffered marketing setbacks and low revenues.
In addition to providing financial services, Tamweelcom offers non-financial services to its clients, such as building the capacity of small business owners by providing them with project management training and ensuring education loans for their children, the statement said.
Established in 1999, Tamweelcom was ranked as the top performing microcredit company in the MENA region this year by the Microfinance Information Exchange.
During the past year, Tamweelcom received three awards: The Middle East Regional Social Entrepreneurship Award from the Schwab Foundation, the King Abdullah Award for Excellence, and the Performance Award from Sanabel Microfinance Network of Arab countries, according to the statement.
© Jordan Times 2009
