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MANAMA :- Ebdaa Bank for Microfinance signed an agreement with Kingdom University (KU) to collaborate on achieving Bank's objectives; financing micro projects especially those launched by students during their studies or after graduation and commensurate with the Bank's tendency to expand the segment of beneficiaries of the loan package.
Moreover, it aims to developing loan products for students who wish to complete their university studies and launch their projects on the next academic year after obtaining approvals from the Central Bank of Bahrain.
The agreement was recently signed by Dr. Khaled Walid Al-Ghzawi, chief executive officer of Ebdaa Bank, and Professor. Mohamad J. Terro, President of KU at Ebdaa Bank headquarters.
Under the terms of the agreement, Ebdaa Bank will collaborate with KU to develop training curricula for the KU students to launch their own projects based on entrepreneurship skills, and provide them with the necessary scientific and professional training, while the bank provides the necessary financing for their projects.
Dr. Al-Ghzawi said: "Our Bank takes pride in collaborating with KU. We are confident that we will work together to achieve the common goals we aspire,"
"This partnership with KU will enhance the concept of financial inclusion by introducing more segments of society into the banking process and introducing them to how to maximize the benefits - whether students or entrepreneurs - of financial and banking services of all kinds." Added Dr. Al-Ghzawi.
He pointed out that this agreement coincides with the keenness of the Arab Gulf Development Program (AGFUND) to build bridges of cooperation with academic institutions. The Arab Open University, which operates in a number of countries in the region, has also entered into fruitful partnerships with various institutes and universities.
Making remarks on signing the agreement, Professor Terro stressed that the importance of partnership with Ebdaa Bank in providing access to easy finance for students, pointing out that the University administration will work to ensure that students benefit from these loans with the necessary profitability.
"Providing affordable funding to university students and graduates is part of the university's role to encourage its students and graduates to move towards entrepreneurship and launch their own projects through an integrated project to create business incubators that fit the university's academic competencies." Said Professor Terro.
He stressed that both the University and the Bank will work together to activate the terms of this agreement through scheduled events, in addition to extensive meetings with university students to get them know how to benefit from microfinance.
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About Ebdaa Bank:
Ebdaa Bank was established in 2009 in the Kingdom of Bahrain with a capital of US $ 5 million. Bank’s major shareholders of entrepreneurs and institution receive 60 per cent of profit, while AGFUND receives the remaining profit. Ebdaa Bank continues to support Bahrain’s Economic Vision 2030 by helping low-incomers to engage in new and innovative economic projects.
For More Information contact:
PR& Marketing: Manama/ Main Branch 17381000 – Hamad Town Branch 17440551
www.ebdaabank.com
info@ ebdaabank.com
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