The objective of the Strengthening The Regulatory And Institutional Framework For Ms will be to enhance financial services and products and to strengthen financial protection mechanism for MSMEs, while enhancing governance.
... See More + There is a need to extend the closing date of the Project from its current closing date of August 31, 2018 to December 30, 2019. The objectives have been nearly fully met, the extension will provide the PMU adequate time to achieve the final objective of women's inclusion, and provide further support to strengthen implementation through additional institutional development and TA to deepen reforms initiated since the project’s inception especially following the decision to move Insurance under CBJ’s supervision. The project will provide TA to develop and implement a robust insurance supervisory through establishing insurance supervision department at CBJ, developing new Insurance law and regulations and establishing and transferring and upgrading IT systems related to the Insurance Supervision Department.
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The development objective of the Enhancing Governance and Strengthening the Regulatory and Institutional Framework for Micro, Small, and Medium Enterprise (MSME) Development Project for Jordan is to enhance financial services and products and to strengthen financial protection mechanism for MSMEs, while enhancing governance.
... See More + The project has three components. The first component, strengthening credit guarantees schemes aims at developing the Jordan Loan Guarantee Corporation (JLGC) SME loan guarantee products, and designing new ones that are tailored to SMEs, which are based on proper risk analysis, addressing moral hazard, and adverse selection, with the objective of enhancing JLGC operations development and sustainability. This component is comprised of seven sub-components, as follows: (i) market research; (ii) risk management; (iii) product development (segmentation and delivery mechanism included); (iv) marketing and outreach; (v) payment rules; (vi) analytics and systems; and (vii) organization and human resources. The second component, enhancing the consumer protection mechanism aims at providing a supervisory and a complaint resolution structure to support a reliable and strong consumer protection system, and at promoting financial literacy in Jordan, which highlights the importance of disclosure, transparency, and recourse system in protecting the rights of financial consumers. The third component, developing the regulatory and institutional framework for micro finance institutions and non-bank financial institutions (NBFIs) aims at supporting policy and regulatory reforms to develop the NBFI and micro finance sector.
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The development objective of the Enhancing Governance and Strengthening the Regulatory and Institutional Framework for Micro, Small, and Medium Enterprise (MSME) Development Project for Jordan is to enhance financial services and products and to strengthen financial protection mechanism for MSMEs, while enhancing governance.
... See More + The project has three components. The first component, strengthening credit guarantees schemes aims at developing the Jordan Loan Guarantee Corporation (JLGC) SME loan guarantee products, and designing new ones that are tailored to SMEs, which are based on proper risk analysis, addressing moral hazard, and adverse selection, with the objective of enhancing JLGC operations development and sustainability. This component is comprised of seven sub-components, as follows: (i) market research; (ii) risk management; (iii) product development (segmentation and delivery mechanism included); (iv) marketing and outreach; (v) payment rules; (vi) analytics and systems; and (vii) organization and human resources. The second component, enhancing the consumer protection mechanism aims at providing a supervisory and a complaint resolution structure to support a reliable and strong consumer protection system, and at promoting financial literacy in Jordan, which highlights the importance of disclosure, transparency, and recourse system in protecting the rights of financial consumers. The third component, developing the regulatory and institutional framework for micro finance institutions and non-bank financial institutions (NBFIs) aims at supporting policy and regulatory reforms to develop the NBFI and micro finance sector.
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