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Dr. Khaled Al Ghazzawi, CEO of "Ebdaa Microfinance - Bahrain", stated that the company has recently developed its credit policies to help more clients restore the operating performance, competitiveness, and profitability of their microenterprises, in line with the economic and commercial recovery phase recently witnessed in the Kingdom of Bahrain.
Dr. Al Ghazzawi, during an inspection visit to the company's branches, said that the development of the credit policy came based on a survey of many customers and employees and extensive studies, adding that these developments would allow more flexibility in granting and increasing the number of loans, in addition to helping customers to pay on time, and reduce the costs of granting the loan for the company and the client at the same time.
“The collection policy is subject to a process of permanent monitoring and evaluation to increase its efficiency and ensure cash flows; so that the company can rotate loans quickly enough to benefit more Bahraini borrowers who own microenterprises. to pay on time, which indicates the restoration of economic recovery in large sectors.” Dr. Al Ghazzawi said.
Dr. Al Ghazzawi stressed the company's management's keenness to achieve a balance between return and risk in managing accounts, especially since what distinguishes Ebdaa Microfinance’s loans is that they are given to the client without any guarantees to help him launch and develop his own project, and within the company's main vision on supporting Bahrainis with limited income within the framework of Bahrain Economic Vision 2030.
Dr. Al Ghazzawi noted the countless efforts made by the cadres of Ebdaa Microfinance at its various levels and tasks within the strategy of the Board of Directors, to achieving the set goals and meeting the aspirations of customers, partners, and supporters, adding in this context that Ebdaa Microfinance Since its establishment in the Kingdom of Bahrain in 2009, has been able to grant more than 16,300 micro-loans to Bahraini entrepreneurs, amounting to a total of 19.4 million dinars, of which approximately 63% are directed to Bahraini women and men under the age of 45.
For more details, please contact:
Manama/Main Branch 17381000 - Hamad Town 17440551
info@ebdaabank.com www.ebdaabank.com
© Press Release 2021
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