03-04-2021

His Excellency the Minister of Labour and Social Development and Chairman of the Board of Directors of the Family Microfinance House (FMH), Jameel bin Mohammed Ali Humaidan, along with the members of the Board of Directors, praised the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, may God protect him, to enable citizens engaged in online sales and “Chef” activities to voluntarily join the "Khatwa" programme for Productive Families Projects of the Ministry of Labour and Social Development, free of charge, and benefit from its advantages. These include access to the Family Microfinance House (FMH) services, which provides financial support to entrepreneurs and productive families registered in the programme, to economically empower them and support the establishment of their productive ventures. This came during the general assembly meeting of the Family Microfinance House (FMH) and the first Board of Directors meeting of the current year, 2021, which was held yesterday, Sunday, under the chairmanship of Humaidan, via videoconferencing, in the presence of the Vice Chairman of the Board of Directors, Dr. Mustafa Al-Sayed, the Chief Executive Officer of the Family House, Dr. Khaled Ateeq, and other board members. Humaidan affirmed that the Family Microfinance House (FMH) continues to provide financial and non-financial services to various micro-projects run by entrepreneurs and productive families registered in the “Khatwa” programme for home-based businesses. This aligns with the institution’s objectives since its establishment in 2010. He noted the Family House’s ongoing efforts to expand its beneficiary base and create enabling conditions for applicants. He further stated that the Family House is prepared to receive applications from individuals wishing to establish small or micro-enterprises through joint cooperation with the “Khatwa” programme. These efforts aim to empower families seeking to enhance their skills and livelihoods, as well as individuals seeking employment, widows, and others, to generate sustainable income and improve their standard of living through productive and advanced economic engagement. The meeting also reviewed the annual performance report of the Family House and the audited final accounts for the financial year ending 2020. Observations were provided to support further development of the institution’s operations, with emphasis on adopting appropriate measures to improve its efficiency in light of the exceptional health conditions brought about by the Coronavirus pandemic. The establishment of the Family Microfinance House (formerly the Family Bank) as a financial institution operating under the Islamic microfinance system is consistent with national policies aimed at economically empowering individuals and families, unleashing their potential, and enhancing living standards. This initiative falls within the National Economic Strategy 2030 framework, which includes programmes to support citizens receiving social assistance and promote entrepreneurship. The Family House complements the esteemed Government's network of services and institutions supporting small and medium enterprises in the Kingdom of Bahrain.