29-05-2021

His Excellency the Minister of Labour and Social Development, Chairman of the Board of Directors of the Family Microfinance House (FMH), Mr. Jameel bin Mohammed Ali Humaidan, chaired the second Board of Directors meeting for the current year 2021, via video conferencing technology, in the presence of the Vice-Chairman of the Board of Directors, Dr. Mustafa Al-Sayed, the Bank’s Chief Executive Officer and Board Member, Dr.Khalid Abdulla Ateeq, and members of the Family House Board of Directors. The meeting reviewed several topics, including approving the bank’s annual budget and approving and ratifying the financial statements for the first quarter of the current year. The members also reviewed the bank’s operational results during the current COVID-19 pandemic and future work plans, which included enhancing the bank’s contribution to the national economy based on its expertise in supporting entrepreneurs and productive families. The bank achieved operating profits of 79,128 thousand Bahraini dinars. The Board of Directors approved the Family House policies to strengthen its local standing as a pioneer in best development practices and boost the incomes of hundreds of low-income individuals and families, senior citizens, homemakers, and job seekers. This will be achieved by financing their development ideas and projects, offering consultations, assisting them in advancing their businesses, providing marketing plans, and training them in basic business management skills. On this occasion, Humaidan commended the efforts made over the past period, particularly in light of the exceptional circumstances the world is witnessing. He emphasised the importance of adhering to the highest standards of corporate governance, which have achieved significant progress in the microfinance industry in the Kingdom of Bahrain, in addition to achieving the right and appropriate balance to enhance the level and quality of services provided to clients. His Excellency the Minister of Labour and Social Development emphasised that the Family Microfinance House’s adoption of a proactive approach to advancing developmental businesses has contributed positively to creating more job opportunities for citizens, in addition to strengthening the contribution of productive families and entrepreneurs who benefit from financial services in the national economic cycle through their productive economic endeavours that meet the needs of the local consumer market, through which they have written distinctive model success stories.