Grameen-Jameel Award for sustainable growth in the Arab world 2012 – Yemeni nationality

Sana’a, 2nd Oct 2012, Al Amal Microfinance Bank has been recognized as the winner of Grameen-Jameel Award for Sustainable Growth – 2012. Out of many MFIs in the Arab Region, the jury has unanimously selected Al Amal Bank as the winner of the award for its historical sustainable growth. The jury consisted of representatives from HSBC, CGAP, Grameen-Jameel, GIZ and SEEP. The award is granted to the Microfinance Institution which demonstrates and achieves rapid sustainable growth defined through client outreach amongst the extremely poor, Market share (Penetration rate), Maintaining healthy financial and operational performance (FSS, OSS), as well as maintaining good portfolio quality and client retention which all applied to AMB and therefore selected for the award. The award ceremony will be held in 31st of Oct 2012 during the opening session of Sanabel ninth annual conference in Khartoom- Sudan that will be attended by the Malaysian Prime Minister Dr. Mohammed Mahathir and many other officials and experts of the Microfinance industry in the world. For this award, Al Amal Microfinance Bank will receive a cash award amounting to $10,000 USD in addition to a trophy/plaque in the sustainable growth category – 2012. It is worth mentioning that Al Amal Microfinance Bank has won several regional and global awards in the Microfinance sector, of which is the global award “ Best Microfinance Bank – Yemen” by the New Economy Magazine 2011 and “ the Islamic Microfinance Challenges Award 2010” with a cash award of $104,000USD. Such awards act as an international recognition of Al Amal Microfinance Bank’s success and performance as well as its active role in the Microfinance industry in Yemen and the Arab world as well as its impact over the national development. This award is sponsored by Grameen-Jameel, the Pioneer organization in the Arab region to support Microfinance and Arab Microfinance Network (Sanabel).