Ebdaa Bank to spread the culture of microfinance

Manama : Ebdaa Bank for Microfinance in Bahrain launched a series of practical steps aimed to spreading the culture of microfinance in the Gulf and the Arab world, in order to encourage more people with limited incomes to launch their own projects and increase their contribution to the development of the national economy and diversification. Especially in light of the challenges caused by low oil prices and declining growth rates.

Chief Executive Officer of Al Ebdaa Bank, Dr. Khalid Al-Gazawi, said that the Bank is launching a series of initiatives in cooperation with a number of banking, academic and civil society partners. 

“This will contribute to the promotion of best practices and success stories in the field of microfinance projects. This project carries great benefits in terms of growth and expansion, generating employment, reducing the import bill and supporting sustainable development plans,” he said.

Dr. Al-Gazawi pointed out that the Ebdaa Bank - Bahrain, by the direction of the Arab Gulf Programme for Development (AGFUND), held meeting with the officials of the Arab Open University in Beirut and discussed aspects of mutual cooperation in the interest of enhancing the academic level of the Bank’s staff in Bahrain and to provide practical training for university students and graduates.

The CEO said the meeting discussed the possibility of introducing the employees of Ebdaa Bank Bahrain into the distance education programs provided by the university in order to obtain a diploma in microfinance.

He added that Ebda Bank-Bahrain will support the Arab Open University in Beirut to develop its curriculum and add practical case studies. 

The Bank will also register the university’s curriculum in video and video formats on YouTube to be available to those wishing to master the basics and skills of microfinance through learning. Remotely.

Dr. Al-Ghazawi expressed his confidence that this cooperation with the Arab Open University in Beirut will serve as a model for investing in modern technologies for distance communication in motivating young people in the Arab Gulf and the region to move to self-employment after providing them with the skills they need and introducing them to the best applications in the field of microfinance And entrepreneurship.