National Microfinance Bank (Alwatani)

National Microfinance Company (Alwatani) is a Jordanian microfinance institution operating as a private shareholding company, authorized by the Central Bank of Jordan to provide financial services tailored to specific segments, following the best international practices in the microfinance industry.

The inception of Alwatani is rooted in the initiative of His Royal Highness, Prince Talal bin Abdul-Aziz, to establish banks supporting micro and small entrepreneurs across the Arab World. On March 27, 2006, under the patronage of Her Majesty Queen Rania and His Highness Prince Talal bin Abdul-Aziz, Alwatani disbursed its initial loans coinciding with the opening of three branches. Presently, Alwatani extends its services to over 96,000 active clients through a network of 35 branches throughout the Kingdom.

Alwatani's vision is to be an organization utilizing financial inclusion to provide optimal solutions to clients, leading to a sustainable enhancement of their livelihoods.

Starting in 2014, Alwatani initiated a digital transformation journey within its operations. Customers became engaged into the lending process through the use of NMC applications on smartphones and tablets, in addition to NMC employees. By 2019, to complete the digitization cycle, NMC successfully integrated with e-wallets, enabling the disbursal of loan amounts and the collection of payments through the NMC's digital application and e-channels. This achievement marked a significant milestone in Jordan's microfinance sector.

In 2022, Alwatani unveiled its first digital branch, featuring a digital services kiosk within the branch marking a milestone in Jordan's microfinance sector. Through the digital services kiosk, beneficiaries can complete the lending process seamlessly, from applying for a loan to signing contracts, repaying installments, and requesting official letters such as clearance certificates and indebtedness certificates. These services are available to beneficiaries 24/7.

Continuing its digital journey, Alwatani is currently prioritizing the expansion of its digital outreach to enhance service delivery in remote areas and to cater to financially underserved segments, thereby advancing financial inclusion.

Over the past two years, NMC has expanded its products to encompass over 12 products catering to the diverse needs of both existing and new customers. These products fall within categories such as educational, agricultural, service, and productivity.

Additionally, NMC has introduced specialized products designed to support ongoing projects, aiding in their recovery and ensuring their sustained operation.

This strategic approach has led to a notable surge in the number of project loans granted and has contributed to increased employment opportunities. Impressively, this number is more than 18,000 new workers hailing from outside the borrower's family. 

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Figures

• Loans disbursed since inception: JD 573,982,182
• Number of loans disbursed since inception: 686,318
• JD Outstanding Portfolio: 56,576,617
• Number of active clients: 96,589
• Number of branches: 35
• Percentage of women clients: 55%
• Average outstanding loan size: JD 756

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