Mr. Rami Al-Juma'I
Overview
Al-Amal Microfinance Bank started its actual operations In January 2009 on the base of five years business plan (2009-2013) and was established by Yemeni Law No. 23 of 2002 as the first Microfinance bank in the Middle East and North Africa. Its establishment came to crown efforts of the Yemeni Government, represented by SFD, and Arab Gulf Program for United Nations Development Organization (AGFUND), as also contribution and support from both Yemeni and Saudi private sectors.
Al Amal Bank is a non-profit organization seeking to offer sustainable financial services to limited and low income households in Yemen who are excluded from the formal banking sector, particularly small and micro entrepreneurs through the provision of inclusive financial services (credit, saving, insurance, transfers, etc).
When established, the Bank had an authorized capital of YER 2 billion (equivalent to US$9.3 million). The shareholders equity comes as follows:
45% of the shares for Yemeni Government, represented by SFD.
35% of the shares for AGFUND.
20% of the shares for Yemeni and Saudi private sectors.
The table below shows Key Events in the Bank's History Date | Event | 20 March 1996 | H.H. Prince Talal Bin Abdulaziz Al Saud declares an initiative for establishing banks of the poor. | 20 July 2002 | Issuance of Republican Decree by Law No. 23 of 2002 on the establishment of AMB. | 11 July 2007 | Vacancy announcement for the position of the Executive Director in the websites of SFD and Sanabel Microfinance Network. | 15 July 2007 | Announcing a contest for designing the AMB's logo. | 15 August 2007 | Issuance of the working license under Prime Minister's Decree No. 332 of 2007. | 1 January 2008 | Appointing Mr. Mohammed Saleh Al-Lai as AMB Executive Director. | May – June 2008 | Developing the five-year strategic plan (2009 – 2013). | 24 August 2008 | Opening the AMB's first branch, Baghdad St. Branch, Capital Secretariat. | 3
Al-Amal Microfinance Bank started its actual operations In January 2009 on the base of five years business plan (2009-2013) and was established by Yemeni Law No. 23 of 2002 as the first Microfinance bank in the Middle East and North Africa. Its establishment came to crown efforts of the Yemeni Government, represented by SFD, and Arab Gulf Program for United Nations Development Organization (AGFUND), as also contribution and support from both Yemeni and Saudi private sectors.
Al Amal Bank is a non-profit organization seeking to offer sustainable financial services to limited and low income households in Yemen who are excluded from the formal banking sector, particularly small and micro entrepreneurs through the provision of inclusive financial services (credit, saving, insurance, transfers, etc).
When established, the Bank had an authorized capital of YER 2 billion (equivalent to US$9.3 million). The shareholders equity comes as follows:
45% of the shares for Yemeni Government, represented by SFD.
35% of the shares for AGFUND.
20% of the shares for Yemeni and Saudi private sectors.
The table below shows Key Events in the Bank's History Date | Event | 20 March 1996 | H.H. Prince Talal Bin Abdulaziz Al Saud declares an initiative for establishing banks of the poor. | 20 July 2002 | Issuance of Republican Decree by Law No. 23 of 2002 on the establishment of AMB. | 11 July 2007 | Vacancy announcement for the position of the Executive Director in the websites of SFD and Sanabel Microfinance Network. | 15 July 2007 | Announcing a contest for designing the AMB's logo. | 15 August 2007 | Issuance of the working license under Prime Minister's Decree No. 332 of 2007. | 1 January 2008 | Appointing Mr. Mohammed Saleh Al-Lai as AMB Executive Director. | May – June 2008 | Developing the five-year strategic plan (2009 – 2013). | 24 August 2008 | Opening the AMB's first branch, Baghdad St. Branch, Capital Secretariat. | 3