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HomeIn focusInside BahrainAGFUND trains 19 Bahraini and Arab youth on basics of microfinance

AGFUND trains 19 Bahraini and Arab youth on basics of microfinance

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A seven-day workshop on the new trends of microfinance was held by the Arab Gulf Program for United Nations Development (AGFUND) through its microfinance division, in collaboration with “Ebdaa Bahrain” for microfinance.

 The workshop was conducted by the CEO of Ebdaa Bahrain, Dr. Khaled Al-Ghazzawi, in the presence of 19 participants, eleven from Bahrain, five from Jordan, two participants from Mauritania, and one participant from Sudan.

According to Dr. Al-Ghazzawi, the goal of this workshop was to introduce and teach participants on new trends in microfinance management, as well as the significance of this kind of financing in providing liquidity to emerging project owners through soft loans without guarantees. He added that the workshop also discussed the processes to be followed to guarantee the borrowers’ entitlement, avoid default, and make proper use of the micro-loan in growing their projects and expanding their potential to generate jobs and support the GDP.

The establishment of such training workshops in the Kingdom of Bahrain in the presence of workers in the field of microfinance from many Arab countries, according to Dr. Al-Ghazzawi, confirms once again that the Kingdom has become a reference in the microfinance industry after accumulating years of experience over the previous years. “This training workshop explored the government’s incentives to companies, including micro-enterprises, particularly during the Corona pandemic, as well as the Central Bank of Bahrain’s significant role in encouraging banks to defer borrowers’ instalments, in addition to the role of BENEFIT Company and the distinctive services it provides in the field of customer credit analysis.” Dr. Al-Ghazzawi concluded.

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 The training covered a wide range of topics, including the fundamentals of studying and analyzing the microfinance market, developing lending products that meet the needs of borrowers, customer selection criteria, financial and social analysis, in addition to loan grant mechanisms.

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