The joining of new strategic contributors to MadfooatCom - Jordan News
Amman – MadfoatCom, the Jordanian electronic payments company, announced yesterday during a meeting at the Central Bank of Jordan—attended by the Governor of the Central Bank of Jordan and the company's shareholders—that it has successfully completed the onboarding of new strategic investors. اضافة اعلان The new investors include Basata Holding from Egypt (acquiring a 25% stake), the Social Security Investment Fund (7%), along with Arab Bank, Housing Bank for Trade and Finance, Jordan Islamic Bank, and Jordan Kuwait Bank. These banks join the existing shareholder banks—Capital Bank of Jordan, Bank al Etihad, and Cairo Amman Bank—bringing the total banking sector ownership in the company to over 50%. Founded in 2011, MadfoatCom continues to operate and manage the eFAWATEERcom system under the supervision of the Central Bank of Jordan. The system, launched in the summer of 2014, connects banks operating in Jordan with billing entities through a single secure platform. It enables citizens to view their monthly bills from various service providers, check their amounts, and make electronic payments through multiple channels, including ATMs, online banking, and mobile payment applications provided by the company, banks, and electronic payment service providers. Basata Holding is one of the largest electronic payment service providers in Egypt. The company offers a range of digital payment solutions and services through various payment channels and a nationwide network of point-of-sale terminals. Its offerings include bill payments, money transfers, collections, and mobile and e-wallet payments, as well as tailored collection solutions for merchants and customers. MadfoatCom emphasized the significance of this investment in strengthening collaboration between the Jordanian and Egyptian markets, as well as in expanding its business operations. The company is particularly focused on growing in its existing markets and exploring new opportunities abroad, aligning with the strategic vision of its shareholders. This vision highlights the importance of digital payments and electronic transactions, which are poised for substantial growth and adoption in Jordan and beyond.
The onboarding of new shareholders was successfully facilitated with the support of New York based Anniston Capital, Inc., Imara Asset Management, Al Tamimi & Co. Law Firm, and International Business Legal Associates, in collaboration with MadfoatCom's internal team.
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