CEO Message

Dear Shareholders,

JMRC had been established with joint efforts of the public and private sectors and it represents one of the important aspects for restructuring the housing sector in the kingdom, which is considered one of the main sectors of the national economy.
JMRC also constitutes a new and important link between money market and capital market through its provision of medium and long-term finance to local banks and financial institutions that grant housing loans, from its different financial resources, and most important of which is the proceeds of JMRC corporate bonds issues in the local capital market.
JMRC’s operation mechanism, through refinancing housing loans, provides banks and financial institutions with the opportunity to increase their participation in granting housing loans with better terms and subsequently expand housing loans base in the kingdom especially for citizens with middle and low incomes, enabling them to own suitable houses, Moreover, JMRCs loans enable banks and financial institutions to manage their assets and liabilities more efficiently through matching the terms of their resources and the using of their funds.

Dear Shareholders,

In light of the rapid global developments resulting from the impact of the emerging of corona virus COVID-19 at the beginning of 2020 which caused a worldwide financial crisis. The Central Bank of Jordan had decided to take a set of precautionary procedures aimed to contain the negative repercussions of the COVID-19 virus on the local economy, JMRC has also been keen to focus its efforts during the exceptional circumstances that the country has gone through on providing liquidity to many banks and financial institutions, and this is completely consistent with the directions and measures taken by the Central Bank of Jordan.

JMRC efforts during 2020 resulted in granting (243.500) million JD -which is the highest granted in a year since inception- to banks and financial institutions to refinance housing loans granted by them so that the total value of loans granted by JMRC since the inception of its business had reached (1.933) Billion JD. While the balance of refinance loans as at 31 December 2020 amounted to (582.509) million JD which is also the highest since inception.
During 2020 JMRC issued corporate bonds in the amount of (238.500) million JD in the local capital market, as such, the value of corporate bonds, issued since the beginning of JMRC’s operations, reached (2.029) Billion JD. The outstanding balance of JMRC bonds issued as at 31 December 2020 amounted to (562.000) million JD.
The value of the loans granted by JMRC to banks and financial institutions along to the volume of corporate bonds issued during 2020 is considered to be an important enhancement of JMRC’s role in improving and developing the housing finance market and capital market in the Kingdom. Over and above that JMRC is looking to extend its activity further in the secondary mortgage market by increasing the volume of its operations in refinancing housing loans and issuing corporate bonds for different terms.

Dear Shareholders,

Allow me to express my deepest gratitude, on behalf of all members of the board directors and the staff members of JMRC, to the Government and the Central Bank of Jordan for their support. And also to thank and appreciate the General Manager and the staff members efforts to fulfil JMRC’s results and to assist in reaching its goals, praying to God Almighty to help us all in carrying the responsibility and serving our homeland under the leadership of His Majesty King Abdullah II Bin AL Hussein.

Peace be Upon You, so as Allah’s Mercy and Blessings

Dr. Adel Al-Sharkas
Chairman of the Board of Directors

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