Some 50,000 women wanted for charges pertaining to financial fraud, other related charges — Ishaqat

AMMAN — The Jordan Microfinance Network, Tanmeyah, on Wednesday announced a JD650,000 contribution to His Majesty King Abdullah’s initiative to cover the debts of “gharimat” (indebted women).

Following a meeting on Wednesday between the Lower House Financial Committee, ministers, Governor of the Central Bank of Jordan Ziad Fariz and Tanmeyah representatives, MP Khaled Bakkar said that the purported attributions to Muna Sukhtian, director general of the microfund were untrue, the Jordan News Agency, Petra, reported.

“What was discussed during the meeting was far nobler than to be considered insulting to Jordanian women,” Bakkar, head of Lower House’s Financial Committee, said.

Minister of Justice Bassam Talhouni, Minister of Finance Ezzeddine Kanakrieh, Minister of Awqaf and Islamic Affairs Abdul Nasser Abul Bassal, Minister of Social Development Basma Ishaqat and executives from the finance sector attended the meeting, according to Petra.

Some 50,000 women are wanted for charges pertaining to financial fraud and other related charges, of which around 9,000 are delinquent on loans that do not exceed JD1,000 each, totalling JD7.5 million, Ishaqat said.

“The debts of those eligible for the initiative estimated at JD3 million, not all of whom are clients of microfinance or finance companies,” Ishaqat added.

There are 62 finance institutions in Jordan, including microfinance institutions, Kanakrieh said, pointing out that most of the licensed microfinance sector is non-profit.

The Microfund for Women, in a statement to The Jordan Times on Wednesday, said that a decision was taken 15 years ago not to attempt to lock up female borrowers.

Fariz said that the portfolio-at-risk rate does not exceed 2 per cent.

Bakkar said that the criteria set by the government committee, in accordance to Royal Directives, clearly state who is eligible to benefit from the initiative.

He urged other borrowers to verify their information to avoid finding themselves in similar situations to those of the gharimat, and to pay their dues.

“A diagnosis has to be made in order to find a solution for the problem and decide whether it is a problem in the financial sector or in legislation,” Talhouni said.

 “We realise the importance of the sector and its contributions to the financial inclusion strategy,” he added.

The problem is that in many of the gharimat cases, the indebted women make their first few payments and then fail to make following payments for a variety of reasons, Talhouni added.

“This requires relentless efforts to correctly diagnose the problem.”