Manama, Bahrain : Ebdaa Bank for Microfinance is prepared for the release of the Guide for Home-based Entrepreneurs following the directives of HRH Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister.
CEO of Ebdaa Bank for Microfinance, Dr. Khalid Al Ghazzawi, praised the directives of HRH and confirmed the preparedness of Ebdaa Bank, supported by the Arab Gulf Development Program (AGFUND), to create the guide and assist home-based entrepreneurs in effectively utilizing it. A large segment of Ebdaa Bank’s clients are home-based entrepreneurs who borrow funds to grow their projects.
“The increasing trend towards home projects in Bahrain may result in security and safety risks. As part of its national role in adopting and implementing Bahrain’s Economic Vision 2030, Ebdaa Bank is fully prepared to contribute to the formulation of this guide while supporting the efforts of the Ministry of Labour and Social Development and the Ministry of Health,” said Dr. Al Ghazzawi.
Given its area of expertise which includes assisting Bahraini entrepreneurs and financing micro and small projects, Ebdaa Bank has the ability to largely contribute to the creation of the guide along with government officials. “We welcome the initiative and are pleased to fulfill this responsibility through our accumulated experience with home projects in the Kingdom of Bahrain and in the nine Arab countries where the banks of AGFUND operate,” he said.
"We will stress the urgency of appropriate security and safety systems to our customers for their projects, and the need to rely on equipment that automatically stops in the event of a short circuit or gas leak,” he concluded.
Ebdaa Bank was established in 2009 as the first microfinance bank in the Kingdom of Bahrain through the support of HRH Princess Sabeeka Bint Ibrahim Al Khalifa, the wife of the King of Bahrain and the President of the Supreme Council for Women, and the Late Prince Talal Bin Abdul Aziz Al Saud, the President of the Arab Gulf Programme for Development (AGFUND).
About Ebdaa Bank:
Ebdaa Bank was established in 2009 in the Kingdom of Bahrain with a capital of US $ 5 million. Bank’s major shareholders of entrepreneurs and institution receive 60 per cent of profit, while AGFUND receives the remaining profit. Ebdaa Bank continues to support Bahrain’s Economic Vision 2030 by helping low-incomers to engage in new and innovative economic projects.
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© Press Release 2019