Ebdaa Bank plans to adopt technology solutions: CEO

Ebdaa Bank, a micro-financing bank in the Kingdom, has announced plans to implement innovative technology solutions, within the bank, in a bid to benefit from Bahrain’s position as a regional center for financial technology. The bank also said it is currently looking forward to cooperating with a commercial bank to issue credit cards to disburse loans and for client loan payments, after obtaining the approval of the Central Bank of Bahrain.

Dr. Khaled Waleed Al-Ghazzawi, CEO of Ebdaa Microfinance Bank – Bahrain said that the bank has entered into talks with financial companies on the provision of soft loans to new segments of beneficiaries, including low-income workers who want to start micro-enterprises. Speaking at the third edition of the Arab Banks Union conference, held in Jordan, Dr. Al-Ghazzawi provided an overview of Bahrain’s experience in the application of modern financial technology in the banking sector.

“Ebdaa Bank seeks to benefit from Bahrain’s position as a regional center for financial technology through the application of innovative technology solutions at the bank,” he said. “This will further enable us to provide financial services to our customers in a manner that ensures the highest degree of ease, transparency, and effectiveness,” he added.