Family Bank’s Capital raised to 750 million pounds


SDN. Khartoum


The Minister of Social Security and Development Engineer Widad Yagoub has announced Tuesday raising of the Family Bank’s Capital to 750 million instead of 250 million pounds and the opening of the public subscription to the shareholders due to the recommendation of the Board of Directors. In her address to the General Assembly of the Family Bank, Engineer Widad praised the achievements done in all public performance indicators, promising to increase and support all the microfinance institutions (MFIs). The minister revealed that more than 350,000 households have benefited from the microfinance opportunities since the establishment of the bank, pointing out that 52,000 families benefited from microfinance during this year and the number of the bank’s branches reached 42 Sudan nationwide. Engineer Widad described microfinance as the country’s economic and social development locomotive, praising the small producers, who represent 80% of the country’s population. Meanwhile, the Chairman of the Family Bank’s Board of Directors Dr. Raja Hassan Khalifa praised the bank’s performance indicators and the steady growth year after year as a result of the efforts of its executive management and employees, stressing the need to adopt a campaign for all shareholders to increase the bank’s capital to strengthen its financial position. For her part, the General Manager of Family Bank, Amal Gassim commended all the efforts have been exerted and the positive results achieved, which culminated in several international and regional prizes, the last of which was the United Nations’ award, as the best bank among 57 countries serving small producers with microfinance.


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