Microfund for Women (MFW) is Jordan’s first and largest not-forprofit, microfinance institution (MFI); dedicated to empower the entrepreneurial under - served, especially women. It was founded in 1996, registered under the Ministry of Industry and Trade and works under the supervision of the Central Bank of Jordan. MFW is also part of Tanmeyah, Jordan Microfinance network.
Today, MFW serves more than 150,000 beneficiaries (96% women). Its estimated micro-credit market share is 34% and had a gross loan portfolio of US $ 86million in 2018, with an average loan size $ 570.
Throughout its journey, of more than 23 years, MFW has disbursed more than 1.213 million loans at a value of over US$ 827 million; with 98% repayment rate. MFW operates through over 60 branches spread across Jordan with 760 staff members of whom 67% are women.
MFW offers Financial Credit Services, Financial Non-Credit Services, Non- Financial Services, MFW Learning Academy and Digital Financial Services.
Regarding the Financial Credit Services, MFW offers a wide range of products including Group Lending (Tadamun), Start-up (Intilaqati), Maternity (Omomah), Home Improvement (Tahseen Manzel), Retiree (Mutaqaedat), Educational (Talemi), Public Vehicles (Amoumi), Seasonal (Mawsemi), Green Energy (Taqati) and Individual Loan (Tatweer).
MFW provides Financial Non-Credit Services; Micro Insurance (Afiyatuna) which is the first of its kind in the region that aims to support in covering health expenses, as a result of emergencies for beneficiaries and their dependents within the ages of 1 month to 21 years; through offering hospitalization compensation fees. In addition it provides a life insurance service designed to assist the beneficiaries to cope with uncertainties.
MFW is also renowned for its Non- Financial Services that are carefully designed to satisfy the needs of its beneficiaries and their families and to help them grow their businesses. These services include Vocational Trainings, Personal Development, Financial Management Trainings, Corporate Social Responsibilities, and Business Development & Management.
MFW established its Learning Academy to institutionalize all MFW trainings and development under one platform. The objective of the Learning Academy is to become a specialized training provider and consultancy to individuals and organizations working in microfinance in Jordan and the region; in addition to expanding its extensive capacity building and training services offered to MFW’s beneficiaries, and potential beneficiaries and their families with respect to gender and inclusion considerations.
MFW offers Digital Financial Services for its beneficiaries which enables them to receive their loans and microinsurance claims payments digitally in their digital wallets, replacing traditional cheques, whereby they can save and conduct transactions and purchases; in addition to cash-in and cash-out at other agents. MFW is the first among all MFI’s in Jordan to obtain Central Bank of Jordan’s approval to officially operate Digital Financial Services.