MANAMA: Ebdaa Bank for Microfinance - Bahrain yesterday announced financial facilitation measures for more than 2,000 borrowers, in response to the Central Bank of Bahrain’s (CBB) directives for commercial banks and microfinance institutions to assist clients under current circumstances due to the coronavirus outbreak.
The 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 bank said in a statement.
Ebdaa Bank urged its customers to contact the customer support department or visit one of its branches in Hamad Town, A’ali, Budaiya, or the bank’s headquarters in Sanabis, provided each project is studied separately according to the facilitations’ new criteria.
Ebdaa Bank chief executive Dr Khaled Al Ghazzawi said the bank’s executive branch adopts these measures in response to the board of directors headed by chairwoman Mona Almoayyed in line with the directives of the CBB.
“This is also in support of national efforts to reduce the negative effects of the spread of coronavirus on the national economy.
“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.
He stressed that Ebdaa bank, within the framework of its response to the directives of the CBB, is continuing to provide services in all its branches in a manner that guarantees the continuation of work in the banking sector in Bahrain.
Dr Al Ghazzawi said the bank has taken a number of precautionary and preventive measures to preserve the health and safety of the bank’s staff 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 staff and made sure that they absorb its content and applications.
“We also work to sterilise the bank’s headquarters and all its branches weekly, according to the circulars of the Health Ministry and in line with international standards, in a way that contributes to containing and preventing the spread of the coronavirus,” Dr Al Ghazzawi added.
The chief executive expressed the bank’s keenness to contribute actively to national efforts taken by the government in this regard to complete the development and growth process and ensure that it is not affected by global challenges.
He stressed the need for the community to unite with all its institutions and individuals and unify their efforts to help the government to limit the virus spread.
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