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UAE and Gulf Countries

Context - The needs of the microfinance sector in the Middle East Region:

The microfinance sector of the Middle East region is underdeveloped in comparison to other parts of the world, such as Latin America and South Asia. This is true in terms of outreach, sustainability, and other key indicators. But stakeholders in the region agree that this gap could be significantly reduced by providing appropriate training, especially to top and middle managers.

With the financial support of Citigroup Foundation and United Ways International (UWI), PlaNet Finance has decided to take action, by responding directly to these challenges:

  • Develop an exhaustive Arabic microfinance curriculum adapted to the particular context of the ME region. Each module will be made up of a course itself, a trainee manual, a trainer manual and exercise sheets based on concrete cases from the region. A certification program for trainers will also be included.
  • Organize training sessions in the ME region, and in future, establish a permanent training center specialized in microfinance techniques in Cairo.
  • Create a network of junior and senior trainers for the region: highly skilled, those trainers will be able to work with banks, donors, state-owned institutions as well as MFIs.

 

Context - The needs of the sector in the UAE:

While the UAE are a wealthy country, a part of its national population lives from allowances distributed by the Government or by UAE Non-Profit Organizations, and not from business or work income. This system, which shows the generosity of the UAE authorities and population, is, nevertheless, not economically a sustainable system. Moreover the system does not prevent a part of the UAE population, particularly women, to encounter more and more poverty situations.

The extension of microfinance services is nonexistent at the time being in the UAE; this disservices deprived women entrepreneurs, given their mobility hardship and lack of experience in dealing with financial institutions.

The situation can therefore be summarized in two points:

  1. that formal financial institutions like banks are not penetrating the Microfinance market because they are not equipped to serve micro and small enterprises especially women owned/operated enterprises; and
  2. that female micro and small entrepreneurs are deprived from equal opportunity to access formal financial services benefiting themselves as well as their country.

 

Our achievements:

For more information on the PlaNet Finance projects in UAE and Gulf countries:
www.planetfinance-as.org/EN/projets.php