Military Credit Fund launches an innovative payroll program for its members and personnel

Mon, 2016-10-31


  In collaboration with MasterCard and Cairo Amman Bank

170 thousand beneficiaries of electronic payment solutions that support the achievement of the financial inclusion in the Hashemite Kingdom of Jordan

The Military Credit Fund announced its collaboration with MasterCard Company and Cairo Amman Bank to launch electronic payment solutions which would contribute to the expansion of the scope of beneficiaries of the banking services and have them provided to more than 170.000 of its members and personnel.

 The Military Credit Fund was established in 2010 under the directives of His Majesty King Abdullah II, Chief Commander of the Jordan Armed Forces. Today, the fund is a leading provider of banking services and products that fulfill the needs of members of the Jordan Armed Forces and security forces, contributing effectively and sustainably to the improvement of their financial conditions and helping them lead a decent life.

 Director General of the Military Credit Fund Mr. Hassan Awawdeh stated: “The Military Credit Fund was established in recognition of the efforts of its members and personnel and aims to improve the quality of their life through a wide spectrum of services and products. We are proud to collaborate with MasterCard and Cairo Amman Bank to launch electronic payment solutions to Jordan Military Armed Forces and security bodies’ personnel, and that would enable us to help them by giving them more financial independence and enhance their living conditions”.

 In order to promote the new program and attract more participants of Armed Forces and security bodies personnel, a range of benefits has been provided, including daily, weekly and monthly prizes for six months, which consist of prepaid cards for 132 winners the amount of which is up to 999 dinars to one winner, subscriptions to sports channels as well as screens to 24 winners in addition to having the chance to win Kia Cerato car of 2016.

 Khalid Al Jabali who is MasterCard Regional President for Middle East and North Africa stated: “At MasterCard, we believe in the substantial role played by the strong partnership between the public and private sectors in creating a positive impact on the lives of individuals, in addition to driving sustainable economic and social prosperity that benefits all segments of the society. We are proud to collaborate with the Military Credit Fund and Cairo Amman Bank through this agreement that is conclusive proof to the success of such partnerships, as the new program will offer peace of mind and many more benefits to these individuals responsible for their country’s safety and security”.

 As one of MasterCard’s largest financial solutions in the region, this agreement is a vivid example of public-private sector cooperation to achieve MasterCard’s vision of having a “World beyond Cash” and emphasizes the need for governments across the world to strengthen their financial inclusion efforts for achieving economic progress.

The General Manager of Cairo Amman Bank Mr. Kamal Al-Bakri stated: At Cairo Amman Bank, it is our pleasure to collaborate with MasterCard and the Military Credit Fund to launch electronic payment solutions to personnel and members of the armed forces and security bodies, and the provision of financial services to the largest possible number of Jordan society segments is a serious commitment. Such initiatives are being taken to encourage us to keep on innovating and expand reaching more beneficiaries of our unique solutions that supports the achievement of the financial inclusion and providing our customers with more flexible and secured financial and banking services”.

Basel Eltell who is MasterCard Manager at Levant region stated: “This program was launched within a scope of an initiative that aims at replacing cash transactions with cutting-edge electronic payment solutions. This program will enable members of the armed forces and security bodies’ as being customers of the Military Credit Fund to receive their salaries and pensions safely and securely in their accounts, completely eliminating the need of cash disbursements and the risks associated therewith”.

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