Ebdaa Microfinance Bank in Bahrain announced the appointment of its Chief Executive, Dr. Khaled Al Ghazzawi as a Member of the Board of Directors of the National Microfinance Bank in Jordan. His Excellency was also assigned the presidency of the Risk Committee under the Board of Directors and memberships of the Audit and Human Resources Committees, bringing the number of Boards in which Dr. Ghazzawi serves to four: Ebdaa Board of Directors in Syria, Ebdaa and Al Sharaka Bank in Sierra Leone, Ebdaa Microfinance Bank in Mauritania, and the National Microfinance Bank in Jordan.
The National Microfinance Bank in Jordan is one of the most important banks in a chain of nine similar banks -including the Ebdaa Microfinance Bank in Bahrain- working under the umbrella of the Arab Gulf Programme for Development “AGFUND” spread across eight Arab countries, in addition to Sierra Leone.
Ebdaa Bank – Bahrain, expounded that the new appointment assigned to its CEO is one of utmost importance and delicacy, at a time when the National Microfinance Bank in Jordan witnessing a steady growth which has contributed to it to become one of the most prominent banks that operate in sustainable development and financial inclusion in the Arab region and the world. The National Microfinance Bank attained more than half a million borrowers since it was founded in 2006, reaching operational and financial sustainability with a percentage that exceeded 140% and collection rates exceeding 99%. The National Microfinance Bank aspires to benefit from the expertise of Dr. Al Ghazzawi in the development of new products and the effective management of resources.
Commenting on the news, Dr. Al Ghazzawi expressed his gratitude and appreciation to AGFUND, King Abdullah II Fund for Development, the Jordanian company for promoting heritage products, and Mr. Fadi Ghandour for their trust in him, assigning him this position. He also extended his appreciation to the bank’s team, represented by the President of the Board of Directors Ms. Reem Mudar Badran and Director General, Mr. Khaled Muhaisin, for the warm welcome given to him by the management team in the first board meeting held in the beginning of January 2017, affirming that he would do his utmost to liv up to the great responsibility placed upon his shoulders.
It is noteworthy that Dr. Al Ghazzawi joined in early 2014 as chief executive of the Ebdaa Microfinance Bank in Bahrain, bringing with him more than 19 years of experience in the field of microfinance and more than 8 years of experience in the financial and banking sector, during which he presided over programmes and financial and banking institutions linked to microfinance in several countries, including Jordan, Lebanon, the United Arab Emirates, Egypt and the United States of America.
Dr. Al Ghazzawi is a licensed instructor in several areas in the field of microfinance, such as business planning, risk management, interest rate setting, accounting, operational risk management and financial analysis. He holds a PhD in International Business Management from the United States, and a Master’s and Bachelor’s degree in Business Administration and Finance from Jordan.
About Al Ebdaa Bank For Microfinance BSC
The Al-Ebdaa Bank for Micro-Finance was founded in the Kingdom of Bahrain in 2009 with a capital of $ 5 million. 60% of the bank is owned by businessmen and legal entities, while the Arab Gulf Programme for Development (AGFUND) and UN Development Programme (UNDP) own the rest.
Since its establishment, the Al-Ebdaa Bank has granted loans for more than 7,000 persons. Currently, it has about 2,000 loans with a total value worth BD1.4 million.
The bank focuses its efforts on achieving the Economic Vision for Bahrain, 20130, through supporting low-income citizens to launch new and innovative economic enterprises.
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© Press Release 2017