Tamweelcom, a Queen Noor – King Hussein Foundation institution, started with a JOD 30,000 grant, five employees, and 1 branch in 1999; with the purpose of elevating employment rates, fostering socioeconomic advancement and empowering low-income individuals within Jordan.
Today Tamweelcom, and after many ‘milestones and firsts in Jordan’ to celebrate throughout its 20 years of history, is a JOD 50 million portfolio company, serving over 90,000 unbanked clients and enterprises through over 500 employees spread across a network of 36 physical branches and 2 mobile bus branches; the only microfinance institution to operate mobile branches in the Kingdom.
Tamweelcom caters to underserved income generating enterprises and financially excluded citizens through 3 business segments, which are the Retail segment, the Micro Enterprise segment, and the Small Enterprise segment. The Retail segment is focused on improving the living standards of the ordinary unbanked client by financing education, cost saving energy efficient appliances and healthy living through general house maintenance financing, to name a few. The Micro Enterprise segment promotes growth and self-sufficiency of unlicensed, semi-licensed, and licensed micro enterprises, which constitute the majority of enterprises in the Jordanian economy. The Small Enterprise segment covers financing for working capital and fixed assets of licensed enterprises. Moreover, this financing is supplemented with complementary products and services, such as credit life and hospitalization insurance, and conducted within the context of the microfinance Universal Standards for Social Performance Management, including client protection principles and high customer service levels.
In addition, and to provide further convenience of accessibility and outreach that saves time and cost to our clients, Tamweelcom has embarked on a digital transformation strategy focused on promoting the use of digital payment and transaction channels, such as the wallet-based mobile bank application and accounts, eFAWATEERcom bill payment and collection ATM Kiosk.
As for Tamweelcom’s social aspect and objective of recognizing its clients and promoting sustainable income growth and improved standards of living in the communities which it operates, Tamweelcom conducts free medical days throughout the year and across the Kingdom. In collaboration with King Hussein Foundation’s Institute for Family Health and private health providers, the communities have access to free generalist and specialist doctors. This is further supplemented with public medical awareness sessions held by health providers, such as those addressing cancer screening, routine health checkups, etc. Similarly, and as part of supporting the sustainability and growth of home based and micro enterprises in Jordan, in collaboration with the Ministry of Tourism and Antiquities, Tamweelcom conducts highly promoted bazaars throughout the year and throughout the Kingdom open to both Tamweelcom and non- Tamweelcom clients, whereby these micro enterprises are provided booth space at no charge.
Regarding corporate governance, Tamweelcom operates in accordance with the international standards of global Microfinance Institutions (MFIs); following a practical and sustainable approach that drives Tamweelcom forward through honesty, transparency and integrity. Tamweelcom corporate culture maintains the utmost level of professionalism. Its scope of work complies with the legal and regulatory framework of the Central Bank of Jordan.
Tamweelcom’s approach and business model is continuously evolving to stay current, competitive, and committed to providing access to responsible finance that creates sustainable enterprises, job opportunities and improves the standard of living of the ordinary unbanked and underbanked citizens living in Jordan.