Ebdaa Bank backs microfinance proposal for GCC charity projects

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MANAMA - Ebdaa Bank has agreed to a proposal to microfinance projects adopted by charities due to its sustainability in developing their financial resources to achieve their objectives to support low-income families.

This came as Ebdaa Bank chief executive Dr Waleed Al Ghazawi welcomed officials from Almajdouie Group. He stressed the need for the GCC to adopt microfinance due to its benefit for charity donations.

Dr Al Ghazawi stressed the keenness of Ebdaa Bank to provide institutions and charities with necessary expertise which would develop their business.

The success of Microfinance experience is considered a leading model for charity institutions to develop their business to advanced levels.

The Almajdouie Group is visiting Bahrain to share ideas and experience through which it would develop their sustainable charity projects.

Addressing poverty through microfinance would support the group’s new project “Basta”, where six booths were launched in Saudi Arabia, distributed in Dammam and Al Khobar.

The project aims to support kiosks to develop their projects.