JoPACC Signs JOIN Fincubator Sponsorship Agreements and Announces JOIN Sponsors

The Jordan Payments and Clearing Company (JoPACC) announced the sponsors of Jordan Innovation Fintech Incubator “JOIN Fincubator”, after signing the sponsorship agreement with them in the presence of His Excellency Dr. Adel Sharkas, Chairman of JoPACC’s Board of Directors and Governor of the Central Bank of Jordan, and His Excellency Dr. Khaldoun Al Wishah, Board Member of JoPACC and Deputy Governor of the Central Bank of Jordan. JOIN Fincubator was granted the sponsorship of Jordan Kuwait Bank, a tier one sponsor, Housing Bank, a tier two sponsor, and Jordan Islamic Bank, a tier three sponsor. The sponsorship agreements were signed by Her Excellency Ms. Maha Bahou, CEO of JoPACC, and by Mr. Haethum Buttikhi, CEO of Jordan Kuwait Bank, Mr. Ammar Safadi, CEO of Housing Bank, and Dr. Hussein Isseifan, CEO of Jordan Islamic Bank. This partnership intends to contribute to the realization of the Economic Modernization Vision launched in 2022, which aims to enable innovation, entrepreneurship, and a digital economy in Jordan. 

The sponsorship agreements cover a period of two years and will offer employees of the sponsoring banks the opportunity to participate in workshops and innovation-focused programs organized by JOIN. Additionally, banks will be able to participate in specialized competitions (hackathons) that address challenges in the financial services sector and develop innovative solutions for them. Moreover, sponsoring banks will be given priority in attracting and collaborating with startups towards funding their innovative projects in the fintech field and launching them in the markets.

Ms. Maha expressed her excitement about collaborating with the sponsors of JOIN Fincubator and her belief in the importance of joining forces in the financial sector to drive fintech innovation and attract, support, and empower startups to innovate while enhancing their capabilities and providing them with an enabling environment to develop and launch their Fintech solutions and services.

Mr. Haethum Buttikhi, CEO of the Jordan Kuwait Bank, stated that “JKB is dedicated to driving digital transformation and innovation in the financial sector, and JOIN Fincubator provides an excellent platform for achieving these objectives. Jordan Kuwait Bank is excited to collaborate with JoPACC and other players to create a more vibrant and dynamic Fintech ecosystem in Jordan, which will promote innovation, create jobs, and enhance the financial well-being of individuals and businesses across the country”.

On his part, Mr. Ammar Safadi, CEO of Housing Bank, expressed his gratitude to JoPACC and the Central Bank of Jordan for establishing JOIN Fincubator in response to the Economic Modernization Vision and the strategy of the Central Bank of Jordan to enhance financial inclusion. He emphasized the important role of fintech startups in enriching banking services, especially since the Housing Bank has recently established its own Digital Innovation Center, aiming to collaborate with JoPACC to provide the necessary support, training, and financing to innovators and entrepreneurs to bring their products to the local and global markets.

Dr. Hussein Isseifan, the CEO/General Manager of Jordan Islamic Bank, said: “Our participation in this national program aligns with the economic modernization vision initiated by His Majesty King Abdullah II and the initiatives that have emerged from it pertaining to fintech, digital transformation, and financial inclusion. It also aligns with our bank’s strategy in digital transformation by providing digital services and Islamic banking products that comply with the principles and provisions of Islamic Sharia. We firmly believe in the significance of this program for the national economy, the banking sector, and innovative startups and companies. It allows us to stay abreast of fintech developments and harness entrepreneurial ideas.”

JOIN Fincubator was established to support fintech startups and entrepreneurs in creating innovative financial products and services that promote digital transformation, boost financial inclusion, and cultivate a sustainable digital economy. JOIN enables innovators and entrepreneurs to test and refine their fintech solutions and services while providing access to advanced infrastructure and a testing environment that resembles the live environment. JOIN further offers mentorship by experts and connects participants with potential investors, opening doors for them to solicit partnerships to launch their innovations in local, regional, and international markets.