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In Jordan, the microfinance sector has been growing strongly in recent years but has been neglected by regulators, thus comprising significant stability risks. After having conducted a sector assessment, the Central Bank of Jordan (CBJ) concluded to take over a leading role in both regulating and supervising the microfinance sector. Since the beginning of 2015, the European Union (EU) supports the implementation of the Jordan National Microfinance Policy Framework with a Sector Reform Contract, targeting, amongst others, at the strengthening of the regulation and supervision of the microfinance sector. The EU Action, the management of which is delegated to GIZ, includes technical assistance and legal advice for the CBJ in the areas of regulation and supervision of microfinance institutions (MFIs) in order to develop its organizational and institutional capacity in this regard.
The objective of the project is the following: Off-site supervision of the microfinance sector in Jordan is improved. Off-site and on-site supervision will have to be interlinked to ensure an efficient supervision of the MFIs.
Services provided:
- Draft off-site supervision tool
- Design microfinance reporting forms
- Design off-site supervision manual
- Class training Central Bank of Jordan staff on microfinance off-site supervision
- On-job training / coaching Central Bank of Jordan staff on off-site supervision