Dr. Khalid Al Ghazzawi, CEO of Ebdaa Bahrain Microfinance Company, warmly received a delegation from Oman Development Bank in the Sultanate of Oman. This five-day visit, held from August 27th to 31st, served as an introductory and training opportunity. During this time, the visiting delegation gained a comprehensive understanding of the company’s financing products, risk coverage guarantees, archival and documentation procedures, default indicators, and collection mechanisms.
Dr. Al-Ghazzawi emphasized the company’s dedication to fostering a microfinance culture in the Sultanate of Oman and the broader region. Ebdaa Bahrain Microfinance Company is committed to extending support, including the development of training and advisory programs, to bolster the growth of microfinance solutions. The company is keen to share its wealth of experience with the delegation, creating a conducive and supportive environment for microfinance pioneers in the Sultanate.
Dr. Al-Ghazzawi highlighted that Ebdaa is a strategic partner for its customers in Bahrain, diligently working to help them achieve their financial and developmental aspirations. He highlighted that Bahrain has been at the forefront of nurturing and advancing the microfinance sector. This journey began in 2009 through collaboration with the Arab Gulf Program for Development (AGFUND) in the establishment of “Ebdaa Bank for Microfinance.” This pioneering effort has led to the accumulation of invaluable experience within the bank’s team, which later evolved into a standalone company. Furthermore, there has been significant awareness among beneficiaries and the community regarding the operational mechanisms and benefits associated with this form of financing.
During their visit, the Omani delegation received detailed briefings on the company’s various departments and their operational methodologies. These encompassed operations, accounting, finance, human resources, and the digital platforms employed for loan processing and management.
The visit also entailed trips to Ebdaa Company’s branches situated in different regions of Bahrain. These visits provided insights into the day-to-day operations, processes, and procedures followed within the company. The evaluation aimed to gauge the efficiency of these practices and identify methods and ideas that could be adopted. The interaction between the delegation and various departments in the branches facilitated the exchange of experiences and knowledge, fostering discussions on best practices and techniques within the microfinance realm.
Field visits to projects initiated by Bahraini clients benefiting from Ebdaa Company’s financing services were integral to the delegation’s itinerary. These visits provided firsthand exposure to the positive impact of the company’s financing solutions on project initiation, development, sustainability, and their contribution to diversifying investments within the Bahraini economy. They underscored the support provided to various sectors, Bahraini entrepreneurs, and job creation.
The visit concluded with a meeting involving the Omani delegation, during which training aspects, observations, inquiries, views, experiences, and questions were openly discussed. This collaborative and constructive dialogue fostered an atmosphere of fruitful exchange. Certificates of attendance were subsequently distributed to the delegation members in recognition of their active participation during the visit.