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Hi, I'm a finance blogger who is interested in how different financial tools, including microfinance, can deliver real value to consumers.
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Currently a Master of Public Administration (MPA) student at Bowling Green State. University in Bowling Green, Ohio, USA. Specializing in International Development with focus on sub-Saharan Africa.
I work in Advertising Operations at Zillow, but LOVE microfinance. I'm always interested in startups, especially non-profits, reach out to me if you're working on anything cool!
Egypt’s National Bank for Development has allocated 200 million Egyptian pounds (about 32 million US dollars) to fund small and micro enterprises. All of these funding programs will be consistent with Islamic banking rules, as NBD is the only bank in Egypt that offers Islamic compliant microfinancing. NBD wants to provide financial services to the segment of the population that does not normally receive this kind of funding. In 1989, NBD was the first bank to launch microfinance in Egypt. Originally with five financing units, the bank has now expanded to thirty-nine financing units. The programs NBD offers range from about 160 USD to over 8000 USD, with repayment in fixed installments without collateral. The end goal of all these programs is to elevate living standards and encourage entrepreneurship. The bank focuses on encouraging local skills and crafts, preserving those that are in danger of extinction, and supporting projects launched by women. Great work Egypt and NBD!