Arab Gulf Programme for the support of the United Nations Development "AGFUND" began the executive steps to establish a sixth microfinance bank in the system "AGFUND" to combat poverty called Bank of the Poor in Sudan like Grameen bank in bangladesh by the microfinance guru Muhammad Yunus

The team of  "AGFUND" discuss, chaired by Executive Director Nasser Bakr Al-Qahtani with the Sudanese side complete the contributions of the private sector in the Sudanese capital of the bank of the poor after it obtained the approval of the Central Bank of Sudan.

AGFUND

AGFUND has received the approval of a number of prominent Sudanese businessmen to contribute to the bank's capital.
The delegation will attend AGFUND in the Forum's seventh Islamic Development Bank to be held in Khartoum on Islamic finance and provides Qahtani and a paper on the successful experiences of AGFUND in the area of ​​job creation and social and economic impact of this experience, the most important obstacles to job creation is represented in (funding, training and rehabilitation, and the labor market ) will also speak about the role of microfinance and micro in the provision of employment opportunities.

Will address Qahtani Horizons initiative Prince Talal Bin Abdul Aziz, microfinance, which led to the establishment of 5 banks for the poor in the Arab region and Africa, (the National Bank to finance small projects in Jordan, Al-Amal Microfinance in Yemen, the Bank of creativity in Bahrain, Bank of creativity in Syria, the Bank of partnership and innovation in Sierra Leone. The pump "AGFUND" in the role of banks, 130 million, benefiting far more than a million in the poor.

The practice of AGFUND to establish banks for the poor on the principle of social investment, and therefore the profits went to the capital increase, and the disposal of the partners, and moreover they are Members of the Board of Directors of the private sector, and shareholders.

Believes that the AGFUND Bank for the Poor in Sudan carries a lot of the features of the success and development and expansion of Sudan because of the countries that created a legislative structure to promote microfinance.

It should be noted that Sudan has launched an initiative to support young people to do small projects to improve their social situation and fight against poverty.

The Sudanese government Spotted 12% of the budget of each bank to support the microfinance industry to advance its role in supporting young people and the fight against poverty and the empowerment of women, as was done at the crossroads of Islamic Microfinance, which concludes its work in Khartoum in the coming days with the participation of a number of experts, specialists and researchers in the field of microfinance experience Bangladesh Grameen Bank

Microfinance in Sudan

The support and banking institutions of the Islamic Microfinance in Sudan a major anchor to the success of microfinance has helped figure the more I said to the sustainability of microfinance projects

The microfinance institutions in Sudan services associated with the microfinance are on both sides of social and economic, such as education, health and combating poverty It also provides technical services such as training in providing funding, training and awareness to enable customers to benefit from funding in the specific project and its sustainability.

The percentage of beneficiaries 97% of the poor as a result of training, rehabilitation and education, most of the loans and mass less than 1% of individual loans