Arab Gulf Program for Development calls for more microfinance institutions

Friday, January 10, 2014

The Arab Gulf Program for Development (AGFUND) called on Arab countries to set up more micro-financing institutions to help unemployed youth and poor people make a sustainable living.

Nasser Al-Qahtani, AGFUND executive director, said microfinance banks would create income and jobs for the vast majority of Arab communities. He was speaking at a meeting of the “Arab Aid” group in Riyadh on Tuesday.

“AGFUND creates jobs and helps deserving poor people. At the same time we maintain a sustainable business that covers our expenses in the long term,” he told Arab News.

Source: Arab News (link opens in a new window)

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microcredit, mobile finance