Al-Amal Microfinance Bank (AMB) was established by private law No. (23) of 2002, as the first Microfinance Bank (MFI) in Yemen and MENA region, as fruition of joint efforts of the government of Yemen, represented by SFD, and AGFUND, plus a private sector’s contribution. It started official business in January 2009. AMB is non-profit origination seeking to offer sustainable financial services to limited and low-income households in Yemen, particularly entrepreneurship running small and micro enterprises. It also provides inclusive financial services to target groups which have been unable to access such services in the formal banking sector. AMB also seeks to contribute towards improving the economic and social conditions of populations in Yemen’s rural and urban areas, particularly limited and low-income groups, through the provision of distinctive and innovative financial and financial services, according to best internationally-recognized practices and rulings of the Islamic Sharia Law via well-trained staff, high technology, and diverse-partnerships, as well as to become a leading and sustainable Microfinance Institution.
