SANAD and Cairo Amman Bank partner to support entrepreneurs and housing in Middle East


SANAD and Cairo Amman Bank partner to support entrepreneurs and housing in Middle East

USD 15 million loan is fund’s first subordinated debt in MENA region

Amman, January 15, 2020 – The SANAD Fund for MSME (SANAD) has provided a subordinated loan of USD 15 million to new partner Cairo Amman Bank (CAB) to help the bank expand financing to local small businesses and low-income households in Jordan and the Palestinian Territories.

CAB is the third largest retail bank in Jordan, with a solid focus on the micro, small, and medium enterprise (MSME) segment – a key driver of employment and income generation in the region. It also provides financing to low-income households for home purchase and improvement. The SANAD investment, which is the fund’s first loan to a bank in Jordan and first subordinated debt for the fund in the MENA region, aims to support CAB in increasing financial inclusion to target groups that may otherwise find difficulty accessing financing to suit their needs.   

SANAD Board Chairperson Dr. Daniela Beckmann said: “The SANAD Fund, through its Technical Assistance Facility, already has several years of experience in expanding financial inclusion to the underserved – especially women, youth, and refugees – within Jordan and the Palestinian Territories. Now, the fund is pleased to be adding long-term loans to the diverse toolbox we use to help build a supportive environment for local business growth. CAB is an ideal partner in this regard; not only because of their strong market presence, but also their focus on small businesses and low-income households, which are precisely the groups we at SANAD aim to reach. We are looking forward to a fruitful partnership.”

Cairo Amman Bank CEO Mr. Kamal Al Bakri commented: “This agreement will help the bank achieve its objectives by activating the market for financing MSMEs in the Hashemite Kingdom of Jordan, as well as support the local economy by making more funds available to provide loans to these companies.”

About SANAD 

The SANAD Fund for MSME finances micro, small and medium enterprises and low-income households in the Middle East and North Africa via qualified local lenders. SANAD thereby fosters economic development and job creation – including youth employment – agriculture, affordable housing, and innovations in finance and financial technologies. SANAD strives to meet these goals by providing debt and equity financing to its local partners. The SANAD Technical Assistance Facility multiplies the fund’s development impact and outreach through capacity-building with partner institutions, developing financial infrastructures according to the principles of responsible finance and conducting much required R&D. 

An impact investment fund advised by Finance in Motion, SANAD’s investors include the KfW Development Bank, which initiated the fund; the German Federal Ministry for Economic Cooperation and Development (BMZ); the European Union; Switzerland’s State Secretariat for Economic Affairs (SECO); OeEB, the Development Bank of Austria; Germany’s GLS Bank and GLS Treuhand; the Dutch development bank FMO; and Calvert Impact Capital. 

For more information on the SANAD Fund for MSME, please visit:  
For more information on Finance in Motion, please visit: 

About Cairo Amman Bank

Since its establishment as a Jordanian public company in 1960, CAB has been keen on employing its strong capital and its six-decade, well-founded experience to play a distinguished leading role in promoting the national economy through providing a distinct and inclusive range of services and successful banking solutions that fulfill the various needs of its customers.

CAB’s pioneer services added a new dimension to society’s projects by financing development projects as well as the micro, small, and medium enterprises that shore up the Jordanian economy.  Being keen on making it easier to serve its customers, CAB established a large network of ATMs installed at various areas in Jordan, Palestine and Bahrain. CAB takes pride in being the first bank in the world to introduce the iris print as a means of identification, allowing customers to access their bank accounts and doing away with the ATM cards and PIN. Thus, the system recognizes the customer, enabling account access and banking transactions either at the service counter or at the ATM at the branches. This makes things easier for customers and provides them with sufficient protection and security, as CAB believes in leadership in the use of modern technology in the banking sector.

For more information, please visit: 

Media contact – SANAD
Nikki Eggers
Senior Officer, Marketing & Communications
Phone: +49 (0)69 271 035-470 

Media contact – Cairo Amman Bank
Ghassan Arab
Manager, Public Relations 
Phone: +96265006368