Amman, June 27 (Petra)– The Islamic International Arab Bank (IIAB)
has signed a cooperation agreement with the Jordan Loan Guarantee
Corporation (JLGC) to implement the “Guarantees for Employment”
program, becoming one of the first banks to join the initiative, the
entities announced on Saturday.

The agreement was signed by IIAB General Manager Iyad Asali and JLGC
General Manager Adnan Naji.

The partnership aims to facilitate Sharia-compliant Islamic financing
for targeted micro, small, and medium-sized enterprises (MSMEs)
through IIAB, backed by JLGC guarantees. To qualify for the funding,
projects must actively create new jobs in Jordan to help reduce
unemployment. Financial incentives will also be provided to these
businesses based on the recruitment and retention of Jordanian
workers.

Asali said the strategic partnership reinforces the role of Islamic
finance in supporting the kingdom’s economy by empowering MSMEs and
creating a sustainable employment environment for Jordanian youth.

He added that the agreement marks a significant step toward enhancing
financial inclusion and meeting the aspirations of the emerging
business sector in accordance with Islamic banking standards.

Naji noted that the “Guarantees for Employment” program links
financing directly to job creation and tangible economic impact,
allowing smaller enterprises to secure the capital needed for
expansion while generating new employment opportunities for citizens.
He added that the initiative helps mitigate credit risks for
commercial banks and financial institutions, thereby increasing
capital flows toward productive sectors to support sustainable
economic growth.

//Petra// AF