The development of the microfinance sector in Bahrain, the first Gulf nation to join the Arab Gulf Programme for Development (AGFUND), and the kingdom's 12-year proficiency in this sector have been highlighted at a workshop.

 

Ebdaa microfinance company Bahrain co-organised the training workshop in Jordan entitled ‘SMEs Strategic Planning and Development of Financial Expectations’.

 

The workshop was organised under the supervision of the Microfinance Unit of AGFUND in collaboration with the National Bank for SMEs Finance in Jordan. Over seven days, cadres working in the field of microfinance from Bahrain, Jordan, Egypt, Sudan, and Mauritania participated in it.

 

Knowledge and expertise

“This workshop's mission was to advance the knowledge and expertise of Arab cadres in the area of strategic planning for the microfinance business in line with AGFUND's goals for promoting regional growth, nurturing more start-ups, and expanding employment possibilities,” said Ebdaa CEO Dr Khalid Al Ghazzawi.

 

Dr Al Ghazzawi, who supervised the workshop, showcased successful examples of Bahrainis who had expanded and developed their ventures even outside of Bahrain thanks to Ebdaa company’s soft loans.

 

"We concentrated on teaching participants how to strategically plan for their organisations, researching the environment around the institution, including legislation, regulations, and market conditions, as well as assessing the institution itself, the performance of its staff, the financing products it offers, its strengths and weaknesses, and developing a broad strategy for three to five years,” Dr Al Ghazzawi said.

 

Analysis of functions

Dr Al Ghazzawi said additional topics discussed in the workshop covered analysis of functions needed by microfinance, strategies for adding new branches, managing expenses, extracting, analysing financial statements, how to develop a loan specialist's portfolio and the best way to move loan amounts around the market. 

 

Sameh Al-Maharik, Chairman of the Board of Directors of the Tanmia Network, a network that unites all microfinance institutions in Jordan, awarded diplomas to workshop participants at its conclusion.-- TradeArabia News Service