Friday 21st November 2014
The International Finance Corporation, which sponsors the Global Banking Alliance for Women, has announced a partnership to help Jordanian bank and GBA member Bank al Etihad launch a new banking model that caters to women in the country. The platform will particularly focus on women-owned SMEs in Jordan.
Women entrepreneurs currently make up 25 percent of all business owners in Jordan, where micro, small and medium enterprises account for 98 percent of all businesses. However, only 11 percent of total bank lending in Jordan goes to the SME sector, according to Bank al Etihad.
“Our partnership with IFC has helped us diversify and innovate our banking services to reach financially underserved segments of the business community, strengthening our banking operations and increasing our footprint in the local market,” said Nadia Al Saeed, General Manager of Bank al Etihad.
The initiative is part of IFC ‘s strategy to improve access to finance and financial services for smaller businesses, support women entrepreneurs, and create jobs.