The Development Of The Microfinance Sector

Held the second training program for the development of the microfinance sector in Bahrain with the participation of delegations from Chambers of Commerce, Gulf, Arab and Islamic World, and the participation of a number of agencies responsible for funding the smaller of the Islamic countries

The statement quoted the Chairman of the Chamber Essam Fakhro said, that the program of microfinance is the best option for the diversification of financing options to micro, especially in light of the difficulty in obtaining funding for the owners of these institutions, which would lead to other difficulties in the administrative and technical view of the adoption these institutions on the capabilities and expertise of their owners at work in the main, and the use of equipment less sophisticated and advanced than those used in institutions with large financial means in order to save money and minimize the cost.

For its part, expressed the Secretary-General to coordinate Chamber of Islamic Trade and Industry expressed the hope that the returns Forum the positive results of the microfinance sector and those who support it, she said during a speech at the opening ceremony that the issue of funding in general is one of the main obstacles that hinder economic growth and the financing of projects small with respect in particular, pointing out that the Islamic Chamber of Commerce and Industry in Pakistan is keen interest in the development and the development of the commercial sector is important, through its cooperation with its partners to organize several workshops and asked for training programs specialized in microfinance and the belief in the roles discharging performed by MFIs, pointing out that the issue of funding in general is one of the main obstacles that hinder economic growth and the financing of small projects.

Also showed that there are currently more than 67 million people all over the world want access to microfinance for their projects, and said that he is expected to grow this number steadily in the near future, which calls for developing a joint plan to support the owners of these institutions and protect them from exploitation which may be subjected by the banks in return for financial loans or through the conditions imposed on the beneficiaries.

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