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Microfund for Women

General Manager: Muna Sukhtian
Email: muna@gmsholdings.com
Deputy GM for Strategic Planning and Operations: Eyad Nino
Email: e.nino@microfund.org.jo
Establishment: 1996
Type: Non-Profit Microfinance Institution
Focus Region: Jordan
Sectors: Financial Inclusion and Economic Empowerment

OVERVIEW

A Jordanian non-profit microfinance institution dedicated to empowering the entrepreneurial poor, especially women, to transform their lives through their own economic actions. In the last 19 years, MFW has have created innovative products and services that have elevated and improved other aspects of beneficiaries’ lives, from educational to microinsurance programs.

Quick Facts: Over 122 ,000 active beneficiaries, 96% female beneficiaries, more than 818,000 loans disbursed at a value of over JD 335 million since inception, 99% repayment rate, average of current loans is JD 342 , ranging from JOD 200 to JOD 10,000, geographic areas of operations: 52 branches across the Kingdom, with 577 employees.

MISSION

Microfund for Women’s mission is to provide sustainable financial and non-financial services to the entrepreneurial poor, especially women, in order to empower them socially and economically, and to help them achieve a better quality of life.

VISION

Microfund for Women envisions a more equal and just society in which women in particular are empowered to break the cycle of poverty, achieve prosperity and live inclusive lives.

OBJECTIVES

Creating opportunities for underserved women to realize their dreams and ambitions, believe in themselves and view themselves as productive members of society with equal opportunities rather than helpless victims without any options.

PROGRAMS

MFW understands that credit alone does not solve poverty. Therefore, we take a multi-faceted approach to empowering our beneficiaries and affect their lives positively by pairing loans with innovative non-financial services to overcome poverty and its consequences.

Credit Financial Services

MFW uses solidarity group and individual loan methodologies, which enables us to tailor our loans especially to our beneficiaries, based on their credit value and capital requirements. Loans start at JD 100 and extend to JD 25,000. We protect our beneficiaries against the risks they are vulnerable to with our original insurance products.

Products:

  • Tadamun
  • Seasonal
  • Tatweer
  • Umoumah
  • Public Cars
  • Jami’ati
  • Mehnati
  • Motaka’edat

Non-Credit Financial Services

MFW was the first MFI in Jordan to offer a life insurance program to its beneficiaries through “Himaya” program, which covers death accidents with a value up to three times the loan, in addition to a free insurance coverage for the spouse. In 2010, we launched the region’s first insurance program “Ri’aya” that helps women and their families better cope with the incidental expenses associated with hospitalization, such as lost income, childcare, transportation or medical fees.

Non-Financial Services

Educational Opportunities
Opening the doors to higher education is one of the most important ways that can positively affect the communities we work in. We provide full university scholarships to our beneficiaries’ children to enable them to complete their education free of the financial burdens associated with earning a degree.

Business Development and Social Services
Through a growing network of partnerships with other specialized organizations, MFW’s non-financial division provides needs-based capacity building, training, and social services to our beneficiaries. This holistic approach enables them to better utilize their loans, improve the well-being of their families, and grow their businesses into stable sources of income. We also provide market linkages to facilitate our beneficiaries’ access to new markets.

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