Question 1

What is Tamweelcom?

Accepted Answer

Tamweelcom, officially known as the Jordan Microfinance Company, is a non-profit microfinance institution that provides responsible financial services to underserved individuals and micro-enterprises in Jordan. Established as a limited liability company owned by the Noor Al-Hussein Foundation, which operates independently under the King Hussein Foundation, Tamweelcom has grown to become one of the leading microfinance institutions in the Middle East region.

With a portfolio exceeding JD 63 million and serving over 99,500 active clients, Tamweelcom operates through a network of 39 branches across Jordan, employing more than 500 staff members.

Question 2

When was Tamweelcom founded?

Accepted Answer

Tamweelcom was founded in 1999 with an initial capital of just JD 30,000, five employees, and one branch. The institution was registered on June 20, 1999 at the Ministry of Industry and Trade as a limited liability company.

The Noor Al-Hussein Foundation launched Tamweelcom to pioneer microfinance services in Jordan, building on its experience with revolving funds in community development projects from the early 1980s. The primary purpose was to alleviate poverty, reduce unemployment, and foster socioeconomic advancement for low-income individuals. Initial funding came from the Noor Al-Hussein Foundation's donation and a grant agreement with USAID through the AMIR program, which was established to support Jordan's business sector.

Question 3

Where is Tamweelcom headquartered?

Accepted Answer

Tamweelcom is headquartered in Amman, Jordan. The main office address is P.O. Box 925715, Amman 11190, Jordan. The company maintains contact center services and administrative operations from this location on Bahnhofstrasse in the capital city.

Question 4

Where does Tamweelcom operate?

Accepted Answer

Tamweelcom operates across Jordan through its network of 39 branches serving all major governorates. The institution has a presence in Amman, Irbid, Al Balqa, Jerash, Al Zarqa, Al Karak, Madaba, Al Mafraq, and Ma'an (including Wadi Musa and Al Shobak).

This extensive branch network allows Tamweelcom to reach underserved communities throughout the Kingdom, from the north to the south, ensuring access to financial services for both urban and rural populations.

Question 5

What services does Tamweelcom offer?

Accepted Answer

Tamweelcom provides a comprehensive range of financial and non-financial services tailored to microfinance clients:

Retail Financing: Loans for individuals and groups to finance education, medical care, marriage expenses, home improvements, vehicle licensing and maintenance, and energy-efficient appliances.

Micro Enterprise Financing: Financial solutions for micro-enterprises to support business sustainability and growth, particularly for home-based businesses and women entrepreneurs.

Small Enterprise Financing: Loans for small enterprises that constitute the majority of businesses in the Jordanian economy.

Digital Financial Services: E-wallet solutions for loan disbursement and repayment, eFAWATEERcom bill payment services supervised by the Central Bank of Jordan, and a mobile application allowing clients to request loans and access account profiles remotely.

Non-Financial Services: Business support services including bazaars, free medical events, capacity building workshops, and financial literacy awareness sessions for clients and local communities.

Insurance Solutions: Products providing compensation in case of hospitalization or death, offered to protect clients and their families.

Question 6

What makes Tamweelcom unique?

Accepted Answer

Tamweelcom distinguishes itself through several key features:

Digital Transformation Leadership: The institution has embraced digital payment channels, allowing clients to receive loans and repay installments through smartphones within hours, significantly reducing time, effort, and costs.

Social Impact Focus: As a non-profit organization, Tamweelcom prioritizes social responsibility and financial inclusion over profit maximization, organizing community support initiatives and partnerships with local organizations.

Strong Track Record: Since inception, Tamweelcom has disbursed over 1,131,871 loans totaling more than JD 724 million, demonstrating its sustained impact on Jordan's economy.

International Standards Compliance: The institution operates in accordance with Universal Standards for Social Performance Management and has obtained the AML 30000 certificate for anti-money laundering standards with support from the EU Global Facility AML/CFT.

Women Empowerment: Tamweelcom places particular emphasis on supporting women entrepreneurs and home-based businesses, helping financially excluded women start businesses and generate income.

Question 7

What type of financial institution is Tamweelcom?

Accepted Answer

Tamweelcom is a microfinance company operating as a non-profit limited liability company in Jordan. It is regulated by the Central Bank of Jordan and complies with the legal and regulatory framework for microfinance institutions.

As a specialized microfinance institution, Tamweelcom focuses exclusively on providing credit and financial services to low-income individuals, micro-entrepreneurs, and small enterprises who are typically excluded from traditional banking services. Unlike commercial banks, its primary mission is social impact rather than profit maximization, though it maintains financial sustainability through responsible lending practices and diversified funding sources from local and international organizations.

Tamweelcom

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About Tamweelcom in Jordan