JLGC main goals and objectives
(1) Utilization of guarantees to fully or partially cover the risks of loans granted by banks and financial institutions. These loans should be directed towards establishing economic projects or expanding existing ones in order to increase production capacity and marketing efficiency as well as create new job opportunities and the possibility of earning or saving foreign currencies.
(2) Utilization of guarantees to cover the risks involved in export credit, particularly in those industrial sectors, which are in line with the aims of JLGC.
(3) Re-guaranteeing any or all of the risks that pertain to the loans that JLGC guarantees already.
(4) Utilization of guarantees for JLGC’s own accounts or for other agencies accounts.
(5) Preparing economic feasibility studies and project evaluations as well as conducting necessary studies on JLGC’s performance and policies in order to match it with the developments of various economic sectors in Jordan.
(6) Developing the tools, means, and models related to the work of JLGC (whether modern or conventional) and training the staff on their use in the various fields. This includes the guaranteeing of credit operations in line with the doctrines of the Islamic Law (sharia’) and those which realize JLGC objectives.
The Jordan Loan Guarantee Corporation was established as a public shareholding company in accordance with the Jordanian Companies’ Law and registered in the registry of the public shareholding companies under number 242 on 26/3/1994. Its establishment was formally declared in the Founders Assembly meeting held on 17/4/1994.
The Corporation was given permission to start operating as of 7/5/1994.
(last updated: 07-January-2003)
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