Al-Ebdaa Bank’s experience, success stories highlighted

Manama, July 27 (BNA): Chief Executive Officer (CEO) of Al Ebdaa Bank for Microfinance, Dr. Khalid Al-Gazawi, has received a delegation of the Oman Development Bank (ODB) Headed by Deputy Director General, Mr. Eid bin Abdullah Al Balushi.. The visiting delegation received first-hand information about Al-Ebdaa Bank’s experience in providing funding loans for low-income Bahraini citizens since its establishment in 2009, as well as its success in reaching out to the targeted segments and providing them with the necessary finance to start their small enterprises. Dr. Al-Gazawi gave a detailed presentation about Al-Ebdaa Bank’s experience, and the great role played by the Arab Gulf Programme for Development (AGFUND) in the foundation of the bank, as well as in developing it and diversifying its products. A short documentary film on the success of the bank’s customers in starting and developing their various enterprises, and the role played by Al-Edaa Bank in that, was also shown. Al-Ebdaa Bank also organised a number of field visits for the visiting delegation to inform its members about the experiences and success stories of its clients. The ODB delegation also visited the various branches of the Al-Ebdaa Bank, and was informed about their work progress. It also held meetings with officials from the Central Bank of Bahrain (CBB) and the Bahrain Development Bank (BDB). The visiting delegation highlighted Oman’s micro-financing experience and the challenges faced by ODB since its establishment in the end of the 1970s. In the end of the four-day visit, Al-Gazawi presented the Omani delegation with the shield of the bank, thanked them for choosing the Al-Ebdaa Bank and pledged to visit Oman, alongside a delegation of the bank’s employees, to be informed about their country’s development experience.