Bahrain - The Family Bank has succeeded in the past 10 years to empower families economically, Labour and Social Development Minister Jameel Humaidan said yesterday.
The minister, who is its chairman, also highlighted the bank’s growing reputation regionally as he inaugurated its new headquarters in the Diplomatic Area.
The ceremony was attended by the bank’s board members, chief executives of contributing banks and economic personalities. Several bank employees, who have been with the bank for the 10 years, were honoured alongside distinguished customers.
The establishment of the Family Bank as a first social bank in Bahrain in 2010 aimed to boost the social security network by enabling low-income individuals, families, entrepreneurs, elderly citizens, housewives and jobseekers to fund their small and micro home
projects through the activation of the micro loan-giving mechanism, the minister said.
The bank was set up through partnership between the Labour and Social Development Ministry, the Royal Charity Organisation, the Bank of Bahrain and Kuwait (BBK), Ithmaar Bank, Ahli United Bank and Kuwait Finance House (KFH).
It won Shaikh Mohammed bin Rashid Al Maktoum’s award for supporting youth’s projects in 2013.
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