04 : 00 PM – 01/08/2018
Manama, Aug. 1 (BNA): Ebdaa Bank for Microfinance revealed its latest survey on loans analysts, were index shows that it has granted 2415 loans for Bahraini entrepreneurs and SMEs , its estimated value stands at 3.045.965BD. It also shows that 49 pc of loans were paid back, while 81% pc of borrowers renewed their loans.
According to survey issued by Ebdaa Bank, 52% pc of borrowers are Bahraini women, while 51% of total borrowers are youth under the age of 35 years.
Data from Ebdaa Bank indicates that the value of micro loans estimated at BD 200 to BD 5000, while the average of one outstanding loan of BD 893 over a 14-months period.
Dr. Khaled Al Ghazzawi, CEO of Ebdaa Bank, noted that the encouraging statistic for consumers showed bank’s success in implementing prudent practices in Microfinance, providing a list of products for low-income Bahrainis and home and emerging entrepreneurs without the complexities of guarantees.
CEO of Ebdaa bank added that those figures mark a significant success, which have been achieved despite all economic challenges, making Ebdaa bank ore determined to achieve its objective of expanding the middle class Bahraini society as part bank’s contribution to the development of Bahrain National economy as per to 2030 Bahrain vision and to achieve SDGs approved by UK implemented by the kingdom.
He explained that these loans are being used in many economic activities, including homemade products, agriculture, industry and services, pointing out that the bank provides guidance services to clients to ensure the development and sustainability of their projects.
It is noteworthy that Ebdaa Bank recently launched two new lending products “NAJAH” and “TAFAWQ” in addition to other lending products including; “SAYIDATY” loan for women producing and working from home, “EBDAA” loan to support home projects for men, “ALAMAL”loan for business, industrial or service entrepreneurs, “ALTAMAYUZ” loan for projects that have commercial records, and the seasonal loan granted to domestic or commercial projects licensed or unlicensed register, during periods such as holidays, the holy month of Ramadan and Back-To-School season.
Number of readings : 1 Last updated : 04 : 00 PM – 01/08/2018
SOURCE: Bahrain News Agency