The Minister of Social Development chairs the meeting of the Board of Directors of the Family House for Microfinance

26-10-2022

His Excellency Mr. Osama bin Ahmed Khalaf Al-Asfoor, Minister of Social Development, Chairman of the Board of Directors of the Family House for Microfinance, chaired the meeting of the Board of Directors of the Family House for Microfinance, in the presence of the Vice-Chairman of the Board of Directors, Dr. Mustafa Ali Al-Sayed, and the CEO of the House, Dr. Khaled Ateeq, and members of the Board of Directors, where ways of sustaining development projects and development services provided by the Foundation to its clients from various groups of people with limited income were discussed. The most important achievements achieved during the first half of the current year 2022 were reviewed, in light of the family home achieving profitable financial results and distinguished growth, which reflects the improvement in the performance of the family home and the continuation of its developmental role effectively in the development of society and the development of sources of income for families with limited incomes. e, as one of the effective means and tools to reach a larger segment of beneficiaries. In this context, His Excellency the Minister of Social Development praised the efforts of the family home team for microfinance, and the positive results achieved by the executive and financial management and all employees during the past years, stressing that microfinance has become part of the general strategy for sustainable development and support for small and micro projects, for productive families and the most needy groups who have innovative ideas for projects that contribute to the economy, stressing that continuing to build on what has been achieved in the policy of cooperation with all parties related to financing for microenterprises, with the aim of achieving A solid base of diversified economic growth for the bank’s main business categories with high quality and level to win the trust of more customers and increase the volume of transactions. Al-Asfoor stressed the importance of the role played by the Family House for microfinance in supporting more than 6,000 productive Bahraini families, financing micro-enterprises and entrepreneurship, noting at the same time that this role comes in implementation of the Family House strategy in empowering Bahraini individuals and families economically and socially and contributes to supporting people with limited incomes. The family home has been able to contribute with entrepreneurs in achieving different success stories and distinguished experiences in the business sector in practice, by providing appropriate financing for their projects, or by providing appropriate advice that aims to provide ideas for development projects and help any individual who wishes to start a project that meets the level of his interests and needs, as well as educating him, assisting him, providing him with a business plan for marketing, and training him in basic business management skills. The Family Home is one of the leading non-profit development institutions, and plays a major and vital role in directing development financing programs, which aim to improve the living conditions of needy families by facilitating financial channels to obtain the required support to start their small projects.