Micro, Small, and Medium Enterprises (MSMEs) are the backbone of Jordan’s economy, accounting for over 95% of all businesses and playing a critical role in employment and innovation. Entrepreneurship is also thriving, with youth and women increasingly venturing into business ownership.
Despite this dynamism, MSMEs and startups face persistent barriers to growth:
• Limited access to ethical and affordable financing
• Lack of Shari’ah-compliant financing alternatives
• Gaps in financial literacy and business management skills
Islamic finance, with its principles of risk-sharing, asset-backing, and prohibition of riba (interest), offers a powerful and ethical financing model tailored for MSME empowerment. Instruments like mudarabah, musharakah, murabaha, and qard al-hasan are ideal vehicles to support inclusive, sustainable entrepreneurship.
Recognizing the urgent need to connect entrepreneurs, MSMEs, financiers, and regulators, IBS, alongside its international partners is hosting a 3-Day Workshop to foster deeper collaboration and innovation at the intersection of entrepreneurship, MSMEs, and Islamic finance.
• Enhance understanding of Islamic finance models suited for MSMEs and startups.
• Empower entrepreneurs and MSMEs with tools for accessing Islamic financial services.
• Connect Islamic financial institutions with the entrepreneurial ecosystem.
• Promote financial literacy and business skills from a Shari’ah-compliant perspective.
• Develop strategies to expand Islamic MSME financing across Jordan
Building Entrepreneurial Mindsets and Understanding Islamic Finance
- Entrepreneurship in Jordan: Opportunities and Challenges
- Introduction to Islamic Finance Principles for Entrepreneurs
- Mudarabah, Musharakah, Murabaha, Ijarah, Salam, and Qard al-Hasan
- Islamic Financial Products for MSMEs:
- Interactive Session:
- Matching Your Business Model with the Right Islamic Financing Instrument
Accessing Islamic Finance for MSMEs and Startups
- How to Approach Islamic Banks and Islamic Microfinance Institutions
- Preparing Shari’ah-Compliant Business Plans
- Successful MSMEs financed through Islamic models in the region
- Case Studies:
- Panel Discussion:
- "Innovations in Islamic Microfinance: Digital Tools and Alternative Financing"
- Entrepreneurship Pitch Clinic:
- Participants practice pitching their ideas to Islamic financiers
Building Strategies, Partnerships, and the Future Ecosystem
- Challenges in MSME Islamic Financing: Risk Management and Scaling Up
- Workshop Breakout Groups:
- Designing New Islamic Financing Models for Entrepreneurs (group work)
- Roadmap to Strengthen Jordan’s Islamic MSME Ecosystem
• Entrepreneurs and MSME owners
• Islamic banks, Islamic windows, and microfinance institutions
• Shari’ah scholars and financial advisors
• Policymakers and SME development agencies
• Business incubators and accelerators
• University students and recent graduates interested in entrepreneurship
