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Al Baraka Bank grants financing of 40 million dinars to Enda Tamweel

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Al Baraka Bank and Enda Tamweel signed a financing agreement worth 40 million dinars granted in the form of a loan agreement and intended to finance the activity of micro-entrepreneurs.

The signing ceremony of this agreement took place this Thursday, May 26, 2022 at the headquarters of Al Baraka Bank in the presence of its Managing Director, Mr. Mohamed EL MONCER, its Deputy Managing Director, Mr. Radhouane KHELIA, and the Managing Director of ‘Enda Tamweel, Mr. Mohamed ZMANDAR.

This agreement will make it possible to finance the activity and projects of micro-entrepreneurs by granting micro-financing which will have positive effects on job creation and the sustainability of businesses, particularly in this critical economic context.

This partnership demonstrates the confidence that Al Baraka Bank has in micro-finance institutions in general and in Enda Tamweel in particular, this agreement also illustrates the commitment of the banking sector to be a major ally for improving inclusion. financial and social needs of vulnerable populations.

“Al Baraka Bank is honored to support the national effort to promote financial and social inclusion and to open new perspectives for the benefit of the beneficiaries of microfinance products. In this regard, we are signing a dynamic cooperation with the first microfinance institution of the country “Enda Tamweel”. We associate voluntarism and listening to the market to find every day new solutions adapted to the current context while respecting the principles of Islamic finance. With these provisions we hope to bring our support to the efforts of the microfinance in Tunisia” declared Mr. Mohamed EL MONCER, Managing Director of Al Baraka Bank.

“We are very pleased with this new collaboration, which marks the beginning of a partnership to support micro- and small entrepreneurs by setting up financing mechanisms to support and consolidate their potential. ‘a common will and commitment to serve our economy and our country,’ said Mohamed ZMANDAR, Managing Director of Enda Tamweel.

Enda Tamweel has been working for more than 30 years to promote sustainable development in economic, social and environmental matters. It is the leading microfinance institution in the country in terms of clients, loans and branch network. Since its inception, the institution has served over a million people and issued over 3.5 million loans. Its presence in regions where access to financial services remains low makes it a key player in financial and social inclusion.

Al Baraka Bank has bet on microfinance, which is proving to be an important activity in the service of ambitious commitments in favor of the reduction of poverty and inequalities.

Communicated

Posted on 05/26/22 16:35



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