Tamweelcom, a Jordanian microcredit provider formerly known as Jordan Micro Credit Company, reportedly will launch a mobile credit station in the northern region of Jordan in an effort to provide greater access to financial services to poor people. The new facility will serve the cities of Mafraq, Northern Shuneh and Ramtha. A Tamweelcom bus will visit each city two days per week between 10 am and 3 pm to collect microcredit applications and disburse loans, making stops in locations such as the downtown bus station in Ramtha, The police station in Mafraq and the main market in Shuneh.
As of 2011, Tamweelcom reported total assets of JOD 19.2 million (USD 27 million), total revenue of JOD 5.67 million (USD 7.97 million) and a gross loan portfolio of JOD 18 million (USD 25 million). As of 2013, Tamweelcom has 26 branches, in Jordan, that serve approximately that serve approximately 67,700 clients. Financial information for 2012 is unavailable.
By Adrija Vaiciulionis, Research Associate
About Tamweelcom:
Tamweelcom, formerly known as the Jordan Micro Credit Company, is a Jordan-based microfinance institution (MFI) that funds small-sized enterprises. It was established in 1999 as a nonprofit organization to support microenterprise development. Tamweelcom later was registered as a limited liability company by the Noor Al-Hussein Foundation (NHF), a nonprofit that operates as the implementing arm of the King Hussein Bin Talal Foundation, which promotes education, healthcare, socio-economic development and political liberalization. As of 2013, Tamweelcom operates through 26 branches serving 67,700 clients in Jordan. As of 2011, Tamweelcom reported total assets of JOD 19.2 million (USD 27 million), total revenue of JOD 5.67 million (USD 7.97 million) and a gross loan portfolio of JOD 18 million (USD 25 million). Financial information for 2012 is unavailable.
Sources and Additional Resources:
Jordan Times Article, “Tamweelcom to Launch Mobile Facilities in Northern Region,”
http://jordantimes.com/tamweelcom-to-launch-mobile-facilities-in-northern-region
King Hussein Foundation Article, “Tamweelcom Fights Poverty by Improving Financial Service Accessibility in Jordan’s North,” http://www.kinghusseinfoundation.org/index.php?pager=end&task=view&type=news&pageid=177
MicroCapital Article, February 6, 2013, “MICROCAPITAL BRIEF: Citigroup Loans $2m to Microfinance Institution (MFI) Tamweelcom of Jordan,”
https://www.microcapital.org/microcapital-brief-citi-loans-2m-to-microfinance-institution-mfi-tamweelcom-of-jordan/
MicroCapital Article, April 25, 2012, “MICROCAPITAL BRIEF: Grameen-Jameel Loans $1.5m to Jordan Micro Credit Company (Tamweelcom),”
https://www.microcapital.org/microcapital-brief-grameen-jameel-loans-1-5m-to-jordan-micro-credit-company-tamweelcom/
MicroCapital Universe Profile: Tamweelcom
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Tamweelcom
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