(10) Million Loan Agreement between Jordan Mortgage Refinance Company and Blom Bank.

Jordan Mortgage Refinance Company signed an agreement which grants Blom Bank JD (10) million for (3) years to refinance housing loans Granted by the Bank to its customers.

The agreement was signed by Mr. Abed Al Razzak Tubaishat, General Manager of the Jordan Mortgage Refinance Company and by Mr. Adnan Al Araj Regional Manager of Blom Bank and Mr. Moder Kurdi Deputy Regional Manager of Blom Bank.

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 housing 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. Al Araj also stated that this agreement aims to increase the bank's contribution to the Jordanian housing finance market and strengthen its role within that sector, This shall be achieved by granting housing loans to citizens at competitive interest rates.

he also emphasized that this agreement enables the Bank to grant housing loans to citizens at suitable interest rates commensurate with their ability to repay


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