Islamic International Arab Bank and JLGC signed an MOU

Islamic International Arab Bank (IIAB) signed a (Memorandum of Understanding. MoU) with Jordan Loan Guarantee Corporation (JLGC).

The MOU allows the Islamic International Arab Bank (IIAB) to utilize the guarantee facilities provided by JLGC to cover renewable energy financing projects, using the specialized fund created by the Ministry of Energy and Mineral Resources (Jordan) to support such projects. 

The signing ceremony was attended by Islamic International Arab Bank’s General Manager Mr. Iyad Asali, and Dr. Mohammad Jafari General Manager JLGC, the Executive Director of the Fund, Dr. Rasmi Hamza in JREEEF (Jordan Renewable Energy and Energy Efficiency Fund), and executives from both sides.

The MOU came from the agreement signed by the Islamic International Arab Bank with the JREEEF, in light of their support for the financing granted for solar water heaters and solar energy systems for home use and small and medium enterprises. 

The bank also believes in its role in providing Islamic financial solutions for the transition to renewable energy due to their significant impact on the environment and the economy, benefiting the citizens. This initiative is part of the bank's efforts to provide financing solutions and facilities for energy efficiency and renewable energy projects for both individuals and companies.