Ebdaa bank announces supportive measures

TDT | Manama

Ebdaa bank for Microfinancing – Bahrain announced its endorsement for financial facilitation measures directed to more than 2000 borrowers. These measures include rescheduling loans and delaying repayment of some instalments, in addition to the flexibility in terms of loan renewal or granting of new loans.

The move banks said is in response to the directives of CBB for commercial banks and microfinance institutions to assist clients under the current circumstances due to the Coronavirus outbreak. Customers are requested to contact the customer support department or visit one of the bank’s branches in Hamad Town, A’li, Budaiya, or the bank’s HQ in Sanabis, provided that each project is studied separately according to the facilitations’ new criteria.

Explaining, CEO of Ebdaa Bank, Dr Khaled Al-Ghazzawi, said the bank’s executive branch adopts these measures in response to the bank’s board of directors headed by Chairman, Mona Yousuf Khalil Almoayyed in support of the directives of the CBB. “We seek to ensure The progress of work on our clients’ micro financed projects and strengthen their ability to withstand the challenges posed by coronavirus, especially since we are aware of the importance of these projects in the economic movement,” Dr Al-Ghazzawi said.

Dr Al Ghazzawi revealed that Ebdaa bank took a number of precautionary and preventive measures to preserve the health and safety of the bank’s cadres and clients according to the recommendations of WHO. “We have redistributed and circulated the integrated guide issued by the CBB to all the bank’s cadres and made sure that they absorb its content and applications.

We also work to sterilize the bank’s HQ all its branches weekly, according to the circulars of the Ministry of Health and in line with international standards, in a way that contributes to containing and preventing the spread of the Coronavirus,” Dr Al-Ghazzawi added.