During his chairmanship of the meeting of the Board of Directors of the Family House for Microfinance .. Al-Asfoor confirms the relentless endeavor to enable people with limited income to work product
07-12-2022
His Excellency Mr. Osama bin Ahmed Khalaf Al-Asfour, Minister of Social Development, Chairman of the Board of Directors of the Family House for Microfinance, chaired the fourth meeting of the Bank's Board of Directors for the year 2022, in the presence of the Bank's Vice Chairman, Dr. Mustafa Al-Sayed, and the Bank's CEO, Dr. Khaled Ateeq, and a number of members of the Board of Directors. A number of items on the meeting's agenda aimed at following up the progress of work in the institution and agreeing on the future plan for its course in the coming period were discussed. During the meeting, the financial statements of the institution were discussed, and the self-assessment report of the members of the Sharia Supervisory Board was discussed. The report praised the extent of the institution's commitment to the provisions and principles of Islamic Sharia in financial transactions, and its preservation of the integrity of these transactions from Sharia prohibitions. On this occasion, His Excellency the Minister of Social Development praised the continuous efforts of the Family House to provide soft financial financing to its clients from the limited-income groups of families who seek through their small and home projects to improve their living income, without providing guarantees, as well as the serious pursuit of its social and humanitarian goals. The establishment of the Family House for Microfinance (formerly the Family Bank) as a financing institution that operates on the Islamic system of microfinance, which comes in line with the policy of empowering individuals and families economically, by unleashing their capabilities and improving their standards of living, within the framework of Bahrain’s Economic Vision 2030, which includes initiatives to empower recipients of social assistance from citizens and facilitate ways for entrepreneurship, as the Family House complements the system of services provided by the esteemed government and the entities supporting small and medium enterprises in Bahrain.