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The achievement is testimony to Fibertech’s success in building a large-scale fiber network infrastructure in Jordan and is but one step, to be followed by many, on the path to empowering Jordan to realize its tremendous digital transformation potential.

When Fibertech began operations in 2019, there was no illusion that the journey would be easy! However, thanks to the determination of its tireless team, Fibertech was able t to overcome the many challenges along the way and to leave its mark on the Jordanian telecom scene.

FiberTech, which was launched in October 2019, has a capital of JD40 million. Previously, Jarrar served as Human Resources and Corporate Affairs Director, and assistant to the general manager of Umniah. During his tenure, Jarrar oversaw the building of Umniah’s technical and commercial capacities through leading human resources initiatives and advancing company strategy. Under his leadership in 2008, Umniah was recognized with the international award for Enabling Innovation through Human Capital and Talent Practices during the Mobile World Congress (GSMA) conference in Barcelona. Jarrar holds Bachelor and Master’s degrees in Computer Systems Engineering from Kent and Cardiff universities in the United Kingdom. In his early career years, he had the honor of serving as officer engineer in the Public Security Department, where he went on to manage the IT systems of the Command and Control, and Immigration and Borders networks. For this work he was awarded with the badge of honor for Managerial and Technical Competence. Later, Jarrar held senior positions in firms specializing in corporate consulting where he managed the accounts of regional and multinational ICT companies. He also had a brief stint in academia working as a guest lecturer. Commenting on Jarrar’s appointment Bdeir said, “I am confident that Mr. Jarrar will make good use of his experience and diverse skillset in leading FiberTech’s team to success, allowing company to achieve its ambitious goal of changing the landscape of Internet and digital connectivity in Jordan.” Umniah CEO Ziad Shatara congratulated Jarrar, saying: “I am confident that Mr. Jarrar, with his proven track record and what we know of him, will see to it that FiberTech will delight clients and end-users with advanced services that will push the envelope of ICT access experience in our country.” FiberTech is a joint investment between the Jordan Electricity Company (JEPCO), which owns 51%, and Umniah, with 49% ownership, and is the first company of its kind in Jordan and the region. The company works to provide new infrastructure for communications through large-scale over-ground fiber optic network in the areas where the Jordan Electricity Company operates, also linking smart meters and other components of the electricity network owned by the JEPCO. It will also provide ultra-fast internet services to communications companies and Internet service providers, ultimately benefiting approximately 1.3 million homes and businesses in Amman.

The Housing Bank for Trade and Finance, the most widespread bank in the Kingdom, has announced the signing of a financing deal with Jordanian company FiberTech for a total of JD25 million. The loan, which is in line with the bank’s ongoing efforts to support national companies, will be instrumental in allowing FiberTech to achieve its long-term business goals.

FiberTech is a joint investment between the Jordan Electricity Company (JEPCO) and Umniah that works to provide new infrastructure for communications through large-scale over-ground fiber optic network in the areas where the Jordan Electricity Company operates, including the capital Amman, Zarqa, Russeifa, Madaba, and Balqa.

The signing ceremony took place at the bank’s headquarters between Housing Bank CEO Ammar Al-Safadi, FiberTech Chairman of the Board of Directors Othman Bdeir, Umniah CEO and member of the FiberTech Board of Directors Ziad Shatara, and FiberTech CEO Sami Jarrar, and was attended by high-level executive team members from each company.

The signing of this agreement is consistent with the Housing Bank’s avid support for the country’s telecommunications sector, offering it financing that allows it to continue providing high-quality services to its customers. Through this latest project, Umniah aims to provide a reliable high-speed Internet network to homes and businesses, while JEPCO will utilize the fiber optic network to support Jordan’s digital transformation goals.

Housing Bank CEO Ammar Al-Safadi said that the agreement with FiberTech, which is a progressive and practical model for integration between the electricity and telecommunications sectors, is a noteworthy step forward, adding that the bank continues its significant role of supporting companies and advancing the growth of the local economy by providing integrated services and the necessary financing to strategic projects in vital sectors in the Kingdom. In addition, the bank also provides dedicated solutions and programs that allow companies to increase their competitiveness and advance their businesses.

Al-Safadi went on to highlight the Housing Bank’s belief in the importance of supporting and developing investment projects due to their noticeable positive impact on the national economy, as well as their ability to create new jobs opportunities. According to Al-Safadi, this move is also consistent with the bank’s objectives of supporting digital transformation in order to maintain pace with the rapid changes in the banking sector’s use of digital technology.

Also at the signing, FiberTech CEO Sami Jarrar spoke of the role of the Housing Bank and its outstanding contribution to the national economy through the financing of Jordanian enterprises, adding that the loan will help the company to continue providing a new communications infrastructure by creating a network of suspended optical fibers in the areas where JEPCO operates, providing ultra-fast internet services to communications companies and Internet service providers, ultimately benefiting approximately 1.4 million homes and businesses in Amman, Zarqa, Russeifa, Madaba, and Balqa.

With the financing, FiberTech will build, develop and operate a fiber optics network on existing electricity poles connected to JEPCO’s grid in order to provide Fiber to the Home (FTTH) Internet services as well as other added-value wholesale services. It will also link smart meters and other components of the electricity network owned by the JEPCO to more than 1.4 million households in Jordan served by the company, which comes out to more than 60% of Jordan’s homes, in the governorates of Amman, Zarqa and Balqa, and Madaba. The FiberTech project’s network will be used by communications companies and Internet service providers, who will, in turn, provide high-speed fiber Internet directly to subscribers.