Ebdaa Bank, SRB in deal

Ebdaa Bank for Microfinance has signed an agreement with the Shariyah Review Bureau (SRB) in Bahrain to ensure that the Bank’s financial products comply with Shariah requirements. Chief Executive of Ebdaa Bank, Dr Khalid Al Ghazzawi stated that the agreement will further enhance the Bank’s ability to adopt the best practices in this field.

“This agreement is in line with the Bank’s initiative to expand its range of financial products to not only include loans for low-income and micro-entrepreneurs but also to those looking for Shariah-compliant financing,” said Dr Al Ghazzawi. Ebdaa Bank will continue to provide traditional loans to customers seeking conventional financing.

Operations Manager of Ebdaa Bank, Ghaith Al Moneim, stated that the Bank will work with SRB to implement a range of ambitious Islamic financial initiatives. Chief Executive Officer of SRB, Yasir Dahlawi, stated that the agreement with Ebda Bank for Microfinance supports the joint approach of the two parties towards the development of the Kingdom’s society and economy. The Shariyah Review Bureau (SRB) is the only Shariah advisory firm in Bahrain licensed by the Central Bank of Bahrain.