Jordan Mortgage Refinance Company signed an agreement which grants Tamkeen Leasing Company JD (1) Million for (3) years to refinance real estate loans granted by the company to its customers.
The agreement was signed by Mr. Abed Al Razzak Tubaishat, General Manager of the Jordan Mortgage Refinance Company and by Mr Jamal Fariz, General Manager of Tamkeen Leasing Company.
Mr. Tubaishat, Stated that this agreement aligns with JRMC's objective to develop and improve the housing finance market in the kingdom by enabling banks and financial institutions to increase their participation in the real estate loans lending - especially for low and middle income earners - in order to assist them in becoming home owners.
JMRC provides the necessary funds for its lending activities through issuing corporate bonds in the local capital market and thus contribute to increase investment instruments in the capital market.
Mr. Fariz also stated that this agreement aims to increase the company's contribution to the Jordanian real estate market and strengthen its role within that sector, This shall be achieved by granting real estate loans to citizens at competitive interest rates.
He also emphasized that this agreement aims to diversify the company's sources of funds at a suitable cost to be granted as leasing real estate loans to individuals and real estate companies that build housing projects.