Queen Noor launches Sharia-compliant microfinance institution

AMMAN — Her Majesty Queen Noor, founder and chairperson of the King Hussein Foundation, has launched Ethmar, “the first” microfinance institution compliant with Sharia (Islamic law) in Jordan, according to a statement released Saturday.

The establishment of Ethmar comes within the foundation’s mission to promote social equity and create economic opportunities for aspiring entrepreneurs of low income. Queen Noor highlighted the important role of Ethmar in promoting entrepreneurship among marginalised communities and enhancing their financial and social inclusion.

At a meeting with the board, she also discussed the vision of Ethmar becoming an innovative model for economic empowerment similar to the other pioneering programmes launched by the foundation over the last three decades.

Ethmar Chairman Faris Sharaf said it will start by providing three specific Sharia- compliant products and other Islamic financial services, in collaboration with public and private organisations throughout Jordan.