Amman, Jordan, August 20, 2015
Looking at Jordan’s credit sector, the microfinance (MFI) market accounts for about 185,000 loans per year, with an annual growth of 20%. The economy is growing at a very high rate and this is expected to reach 4.5% in 2017. In addition, the inflation rate, still in the mid-single digit range, is expected to fall in the coming years.
Compared to developed credit markets, where consumer credit applications to the banking system account for on average one third of the population on an annual basis, in Jordan this figure could increase to 40-50% considering all the eligible credit providers, which include lending institutions, banks, microfinance organizations, telcos, insurance companies and retailers.
“In recent years, SKY Credit Management has focused its attention on the management of non-performing credit, with the aim of increasing the efficiency and performance of collection actions, as well as optimizing billing and payment processes, in particular for the “charges and penalties” component,” explained Fabio Polselli, Head of Credit Management at SKY Italia, a leading company in the media sector.