Bahrain's microfinance experience discussed

Manama, Jan. 24 (BNA): Chief Executive Officer (CEO) of Al Ebdaa Bank for Microfinance, Dr. Khalid Al-Gazawi, discussed with a delegation from Oman Development Bank (ODB) the launch of a microfinance section within (ODB) to transfer the Bahraini advanced experience in the field of microfinance to the Sultanate, with a view to stimulating the emerging projects and supporting entrepreneurship. Dr. Al-Ghazawi expressed his readiness to provide all the necessary support to strengthen the culture of microfinance in the Sultanate of Oman. He explained that Al-Ebdaa Microfinance Bank helps microenterprises to establish and move from the level of the domestic project to the commercial level, thin specialized banks in microfinance, such as the Bahrain Development Bank, will continue to support the project until it reaches the desired level of success. The delegation expressed their desire to benefit from the accumulated experience of the Microfinance Ebdaa Bank and the good results achieved by implementing the best practices in microfinance as decided by the Arab Gulf Development Programme (AGFUND). The bank organised a number of field visits for the visiting delegation to inform its members about the experiences and success stories of its clients. The delegation also visited the various branches of the Al-Ebdaa Bank and was informed about their work progress. In addition, the Omani delegation organized a number of field visits to Bahraini clients, benefiting from the services of the Ebdaa Bank. They also learned about the positive impact of the Bank's loans on the launching and development of these projects.