Ebdaa Bank opens Saar Branch

Ebdaa Bank for microfinance, Bahrain announced opening its fourth branch in Saar, while also unveiling plans to open more branches in Muharraq and Sitra. The new branch in Delmon gate Mall, the bank said, serves Budaiya’s villages and is staffed with experienced professionals to meet micro-credit customers’ needs.

Dr Khaled Walid Al-Ghzawi, CEO of Ebdaa Bank, 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. Al-Ghzawi 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.”

“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 said.