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MANAMA: Ebdaa Bank for microfinance, Bahrain announced the opening of its new fourth branch in Saar.
The new branch, located in Delmon gate Mall, mainly serves Budaiya’s villages that has a high population density. Saar branch is staffed with experienced professional calibers to meet micro-credit customers’ needs, and was designed to provide the complete comfort to customers, in addition to the appropriate equipment and advanced infrastructure required.
Dr. Khaled Walid Al-Ghzawi CEO of Ebdaa Bank, during the inauguration ceremony stated: “We want to stay close to all customers, so that we can serve them appropriately, provide them with guidance to launch and grow their microenterprises, and how to make the most of their loans. In particular, dealing with microfinance loans requires frequent visits to the bank in order to repay the loan in small installments, and to obtain greater facilities and credit to customers who are committed to repay.”
Dr. Al-Ghzawi confirmed that the new branch is part of Bank’s expansion plan in the Kingdom that includes the opening of more branches in Muharraq and Sitra the coming period. He said: “Despite the economic challenges, we are confident in the ability of the Bahraini economy to achieve sustainable growth, and the importance of microfinance in supporting this growth through the provision of soft loans without guarantees for startups and increasing the contribution of these projects to GDP.”
“We have taken it upon ourselves to promote the microfinance industry in the Kingdom of Bahrain, especially as the Kingdom took the lead in embracing the microfinance industry when it hosted the first Arab Microfinance Bank (AGFUND) in the Gulf region in 2009. Today, we see the fruits of this lead with evidence of bank’s beneficiaries. The bank has been able to serve 14,000 customers over the past ten years, which have received loans worth more than 13 million dinars. While the number of borrowers currently 2849 of Bahraini micro-entrepreneurs, they received loans amounting to a total value of about three million dinars.” Dr. Al-Ghzawi concluded.
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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