Amman, Jordan

The German Savings Banks Foundation for International Cooperation (DSIK), an international organization primarily focused on achieving financial inclusion by enhancing financial literacy for underserved populations in Jordan, and the Association of Banks in Jordan (ABJ) have signed a Memorandum of Understanding (MoU) aimed at establishing a long-term partnership to strengthen financial inclusion and build the capacities of the financial sector in Jordan.

Through this MoU, both parties aim to foster joint efforts to promote financial literacy in Jordan, encourage inclusive economic growth, and contribute to the sustainable development of the financial sector. The MoU seeks to improve access to financial services for key target groups, including youth, women, low-income individuals, and entrepreneurs. This partnership aligns with the shared goal of both institutions to support sustainable social and economic development in Jordan by improving financial literacy.

The MoU outlines several key areas of cooperation, including joint efforts to implement tailored training workshops that utilize modern techniques such as innovative business simulation exercises developed by DSIK. These workshops aim to build the capacities and skills of small business owners and entrepreneurs, increasing their financial knowledge in managing their businesses and banking transactions, thereby contributing to their access to appropriate financial services and products. Additionally, the MoU includes cooperation between the two parties to develop the ABJ’s financial awareness platform, with DSIK contributing financial content and innovative financial tools to enhance the platform’s resources. Furthermore, the MoU emphasizes collaboration in the area of green finance, with a focus on tools for evaluating environmental, social, and governance (ESG) criteria.

It is noteworthy that the German Savings Banks Foundation for International Cooperation (DSIK) is a subsidiary of the German Savings and Loan Banking Group. The foundation aims to promote financial inclusion on a global scale by empowering individuals and small business owners to better manage their finances and access the financial services they need to build a better future for themselves.