Key Events in AMB History!

– إطلاق منتج تمويل جديد يستهدف النساء (حواء)

– تجهيز عدد (3) فروع ومواقع حديثه عدن، مأرب، الكول سنتر

– توقيع اتفاقية مشروع مستقبلك مع منظمة صلتك لتأسيس منصة التدريب والشمول المالي الإلكتروني

–  حصول البنك على 3 جوائز عالمية والإقليمية في مجال التميز  والابتكار

-توقيع البنك 3 اتفاقيات شراكة لتطوير خدمات البنك وتأمين محفظة القروض

– حصول المدير العام التنفيذي على اللقب المهني “خبير معتمد” من الشبكة الإقليمية للمسؤولية الاجتماعية

Signing an agreement with the British company Bab to provide advanced financial services based on Blockchain technology

Signing an agreement with SHIFT International Remittances Company for the purpose of providing external remittances service through the bank’s branches and agents inside Yemen.

– Launching the letter of guarantee product and starting to provide this service to the public in all the bank’s branches.

- The Regional Network for Social Responsibility in the Arab World and the Middle East announces the name of Mr. Mohamed Saleh Al-Lai, Executive Director of Al-Amal Microfinance Bank - among the 100 influential Arab personalities for the year 2020 in the field of social responsibility - the category of professionals.

- Updating the bank’s organizational structure to include the establishment of the cash management and electronic services, the reorganization of the banking services department, in addition to the establishment of the branches and service points department within the structure.

- Establishing a new bank branch in Amran Governorate.

- Equipping the general administration building in accordance with the latest standards in the banking business environment.

- The Bank won 4 global and regional awards in the field of excellence and innovation.
- Developing the incoming and outgoing remittance system in the PYES system.

- Develop a range of jobs through the Base application to include electronic financing, payment of purchases, payment of financing installments, and the development of Al-Amal Mobile services.

- Signing and extending several agreements with donors.

- The bank’s access to more than 66 thousand electronic accounts in the PYES application.

- The bank has provided more than 10.5 million and a half social transfers, amounting to 97.2 billion Yemeni riyals. For 2.6 million beneficiaries, a growth rate of 6% over the expenditure during the same period in 2019.

- The number of women beneficiaries of the funds disbursed to women in the year 2020 AD amounted to 6,377, with an amount of 233.4 million riyals.

- The number of beneficiaries of the funds disbursed to males in the year 2020 AD amounted to 41,490 beneficiaries, with an amount of 1.2 billion riyals.

Hit a record of 135,880 savers.

Had a saving portfolio amounting up to YER 13,6 Billion.

Distributed 3.4 million transfers under social transfer projects to the amount of YER92 billion, which increased by 7.6% from 2018.

Implemented UNICEF-funded Emergency Teachers Incentive (ETI) on PYes, thereby distributing entitlements to more than 35,000 teachers.

Launched checkbook service for legal entities, thus enabling partners to carry out transactions on accounts with AMB.

Launched E-finance as part of E-Money (PYes), which is considered to be the first digital credit portfolio.

Launched Al-Amal Web, which enable international and local partner organizations to manage their own accounts online.

Connected internal transfers to some agent networks on PYes application.

The volume of transactions carried out on E-Money exceeded YER 1.8 billion.

Signed agreements for implementation of social cash transfers with three UN agencies: WFP, UNDP and FAO.

Restructured the Operation Department and established an independent department for loan and banking services.

Increased non-financial services provided by Reyadah.

Launched the SWIFT service for execution of external transfers for trade purposes via AMB account with correspondent banks.

Attained a 289% growth rate in the saving portfolio amounting to YER 5.9 billion.

The year 2017 saw quantum leap for AMB in social transfer projects when the Bank hit a record of 1.5 million transfers worth YER 26 billion.

Implemented WB-and UNICEF-funded ECTP, which is the largest social transfer project in Yemen, as well as one of the largest social transfer projects worldwide. The project made a huge difference in AMB history.

Established network connectivity to all payment sites on Cloud application, thus enabling them to work as one network and carry out real-time payment to all sites.

Launched E-Money Service (PYes) as part of local and international orientations to provide banking services on cell phone.

Opened AMB accounts with external correspondent banks.

Partnered with local banks and currency exchange firms for implementation of social cash transfers and liquidity management.

Launched ARF to cover risk posed to the Bank and reduce the impact of the conflict on clients.

Expanded mechanisms for implementation of social transfer projects via agents, outreach payment teams and merchants.

Started introducing a fingerprint reader mechanism for identity verification of social transfer project beneficiaries in the UNICEF-funded Emergency Cash Transfer Project (ECTP) in partnership with UNICEF.

Launched ID card printing service for beneficiaries of social transfer projects funded by SFD and UNICEF.

Carried out Women Economic Empowerment Project (WEEP) in partnership with Care International and Reyadah.

Carried out GIZ-funded Youth Employability Improvement Project (YEIP) via Reyadah, thereby creating 55 job opportunities for young people enrolled in the program.

Developed marketing identity for social transfers and established its development strategy from technical and marketing perspective.

Developed outreach payment system (Android-enabled tablet) on cell phone as a technical step towards development of social transfers.

Carried out the first UNICEF-funded cash assistance project in Sana’a and Taiz governorates, targeting Vulnerable (Muhammasheen) communities, which are home to most vulnerable households affected by the conflict.

Issued “Yemen Microfinance: A future Vision”, prepared by Mohammed Al-Lai, Chief Executive Officer of the Bank, as a roadmap towards development of the microfinance sector to be an effective tool for fighting poverty and unemployment in Yemen.

Expanded delivery of external transfers via MoneyGram, making use of AMB branches and agents countrywide.

Carried out a project entitled “Financial Inclusion of Vulnerable (Muhammasheen) Communities” in Taiz Governorate in partnership with UNICEF and SWF. The project targeted 35 thousand Vulnerable (Muhammasheen) households in Taiz Governorate with quality activities and opened saving accounts for them.

Implemented 77 training programs for nearly 2,000 trainees in Reyadah.

Established Al-Amal Entrepreneurship Club in partnership with Al-Asmakh Charitable Foundation.

Inaugurated Reyadah in partnership with AGFUND and Buqshan Group with the aim of realizing integration of financial and non-financial services the Bank provides to youth and entrepreneurs.

Launched “Mobile Banking” which is used for provision of AMB services in rural areas.

Launched the currency exchange product, swapping local currency for foreign currencies and vice versa.

Launched the internal transfer product, which is provided via 18 AMB branches in 8 Yemeni governorates.

• Launched external transfer product via MoneyGram, which is widely spread in more than 194 countries worldwide.

Launched the social cash transfer product as the first service of its kind in the delivery of cash transfers to rural and urban areas where target beneficiaries live through outreach payment teams. Under this product, the Bank distributed 17,385 transfers worth YER 477 million to beneficiaries of SFD-run labor-intensive work projects.

Obtained grant from MEPI to establish Al-Amal Foundation for Training & Entrepreneurship, known as Reyadah.

Launched the current account product as the first saving product offered to microfinance clients in the Arab Region. Through this product, they can financial payment orders to pay financial obligations.

Launched investment funds as the first product of its kind in the microfinance industry, which targets businessmen with social responsibility.

Joined the Deposit Insurance Corporation, which guarantee deposits of bank customers up to YER 2 million. Accordingly, 99% of AMB clients have their deposits guaranteed.

Was declared the first Microfinance Bank in the Arab Region providing voluntary saving products to the poor according to recognized banking standards.

Developed a variety of saving products targeting different community groups, including children and youth.

Adopted the concept of “Financing the Poor from the Poor” by means of using clients’ savings to fund the loan portfolio by 20.5%. 

- First disbursement of funds.

- The opening of the first bank branch - Baghdad branch - Amanat Al Asimah.

Electing Mr. Omar Abdul Rahman Bagrash as the first chairman of the bank’s board of directors, and appointing an executive director for the bank – Mohammed Saleh Al-Lai.

Preparing the first strategic plan for five years 2009-2013.

- A presidential decree was issued by Law No. 23 of 2002 establishing Al-Amal Bank.
- His Highness Prince Talal bin Abdulaziz Al Saud announced his initiative to establish banks for the poor.
Al-Amal Microfinance Bank's Profile
Perfil de Al-Amal Microfinance Bank
Al-Amal Bank has completed ten years of dedication and great efforts, thus achieving excellence, leadership and innovation.
Al-Amal Microfinance Bank's Brochure
Al-Amal Microfinance Bank's Brochure
Al-Amal Bank is a non-profit organization that seeks to provide sustainable financial services to limited and low-income families in Yemen, especially people who have small and micro-enterprises that generate income
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