The digital wallet promises to reduce remittance fees for underbanked employees in the UAE by enabling transfers to up to five people for the price of one.

UNRWA Microfinance Department inaugurated its 9th branch in Russiefa reaffirming its commitment and continuous services to Palestine refugees in Jordan.

The European Bank for Reconstruction and Development, alongside the European Union and the Green Climate Fund, has announced a financing initiative for Jordan's microfinance institution, Tamweelcom, under the Green Economy Financing Program.

The investment aims to allocate the loan proceeds towards climate change mitigation and adaptation technologies, focusing on local MSMEs, including women-led enterprises.

The agreement outlines the cooperation between Jordanian Hashemite Fund for Human Development and FINCA Jordan in financing productive initiatives, small businesses, and projects across the Kingdom through soft loans.

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The partnership will see the launch of two unique card products designed to meet the growing needs of businesses and underbanked individuals, supported by a feature-rich digital app powered by Mastercard’s secure, contactless payment technology.

Banks can draw on the facility to provide new loans and financing to individuals, small and medium-sized enterprises, and other private corporates affected by the virus fallout.

These loans are intended to support 9,100 people, 90 percent of whom are women, whose livelihoods have been threatened by the effects of the COVID-19 pandemic.

Five years ago, Amira Hawamdeh took out a loan for $423 to buy buttons and yarn to make purses and sweaters, and winter blankets to sell to her neighbors.