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Bank of Jordan and EntreViable Join Forces to Stimulate Entrepreneurship

Date: 09/04/2023

As an extension of its efforts to support young people in the field of entrepreneurship, Bank of Jordan and the Digital Platform for Entrepreneurship Development, EntreViable, establish a collaborative relationship by signing a Memorandum of Understanding to provide services aimed at developing entrepreneurship across various tracks. This includes an educational path to build and strengthen the cognitive and skill capabilities of pioneering ideas and project owners, particularly digital ones, to transform their ideas into projects on the ground, with extensive and efficient digital educational resources and tools provided free of charge. In addition, it offers a financing path to ensure these projects’ success, sustainability, and growth.

At the headquarters of the General Administration of Bank of Jordan, Mr. Saleh Hammad, General Manager  of  Bank of Jordan, and Ala’a Kawash, General Manager of the Digital Platform for Entrepreneurship Development, signed the agreement between the two parties.

Mr. Saleh Hammad expressed the bank’s pride and happiness in its cooperation with EntreViable, noting its importance as a model for effective development partnerships, especially as it is the first of its kind between the banking sector and companies leading the global innovation in developing entrepreneurship.

It is also a significant step toward providing necessary support to the growing number of emerging and small businesses worldwide, which act as a powerful tool for growth and prosperity. This sector still requires organized and continuous support in the region, specifically in the Arab world, which is replete with promising youth lacking the resources and opportunities they need to succeed and accelerate their work.

On this occasion, Hammad said, “We ensure that we remain, as we have always been, part of the articulated stations in the national development process. This process focuses on creating an enabling environment for creativity, innovation, and digital transformation that underpins youth leadership in the current period, which we seek to stimulate through our innovative banking, investment, and financing products. We also do not hesitate to employ our development activities and services to expand youth support, which is what stands behind our embrace of creative initiatives that contribute to providing an environment that is compatible with the most critical elements of economic modernization and Jordan’s centennial. Hence, we are building a digital and pioneering economy and establishing the Kingdom as an incubator for leadership and a favorite destination for investment in technology.

Mr. Ala’a Kawash stressed the importance of this agreement, as cooperating with sectors concerned with entrepreneurship is considered one of the company’s business strategies and is in line with the goals of the Bank of Jordan. Empowering and supporting young people from emerging entrepreneurs is one of the pillars of success for such agreements, and EntreViable is the first of its kind in the world regarding inclusiveness in services, diversity of training and educational paths, and tools supporting registrants on the platform. This program is an opportunity for aspiring business owners and entrepreneurs who are looking to get ahead and advance their businesses. It provides them access to experienced professionals and invaluable knowledge to help establish and expand their operations.

Kawash added that the number of registered users on the platform since its launch in October 2022 had reached more than 150 thousand from over a hundred countries worldwide within five months. Approximately 40% of these registered owners are existing business owners who have started to benefit from the free services provided by the platform.

This cooperation falls within the framework of the Bank of Jordan’s corporate social responsibility programs, where young people benefit from numerous programs and services geared towards their empowerment. In addition, it enables digital transformation at a personal, societal, and national level, which is considered one of the bank’s most important strategic and operational goals.

The Arabic-speaking platform, available to Arabs of all ages, which has seen significant demand from the youth of over a hundred countries around the world, offers many programs across three tracks: the Entrepreneur’s Path, the Existing Business Path, and the Investor’s Path. It provides knowledge, education, and extension services by selected experts and specialists in around 14 sectors, focusing on financial technology, technical agriculture, education and healthcare technology, information security, AI, IoT, virtual and enhanced reality technology, metaverse, big data, and other modern technological trends, as well as project development services, building plans and providing financing tools.