Al Amal Microfinance Bank was established by Law No. (23) of 2003. However, the bank officially began its activities in 2009 under the supervision and oversight of the Central Bank of Yemen. Al Amal Bank seeks to provide sustainable financial services to owners of small and micro enterprises, and is the first specialized bank in the Republic of Yemen and the Middle East and North Africa region.
Features:
Repayment periods extending up to 24 months.
Grace periods of up to 3 months.
Flexible installment payment options.
Financing based on the Islamic Murabaha system.
Al Amal Microfinance Bank offers a wide range of products, including individual financing, housing financing, alternative energy financing, and more. However, the services under “Investment” and “Agricultural” are of particular interest to us here, with financing ceilings of up to 20 million Yemeni riyals. These financing products are designed to support small and medium-sized enterprises (SMEs) and those interested in agricultural and livestock projects.
The financing applicant must be a Yemeni citizen.
Have a valid ID.
Be under 60 years of age.
Provide the necessary guarantees.
Have a good credit reputation.
