nawal abdallah, ebdaa microfinance bank, sudan, the challenges and opportunities of islamic...

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6/24/22 1 #18MCSummit Ebdaa Bank for Microfinance-Sudan Model of Islamic Microfinance Experience By: Nawal Abdallah Ebdaa Bank for Microfinance- Sudan was founded by AGFUND It is practice began officially in December 2013 with a total capital $ 5,000,000. Ebdaa’s institutional shareholders (AGFUND) (IDB) (FCB) Sudan (SMDC) (EDB) Sudan other individuals private sector investors Objective Provide financial and non- financial services to increase economic opportunities and investment for target groups. Target groups women, youth and disable with

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Page 1: Nawal Abdallah, Ebdaa Microfinance Bank, Sudan, The Challenges and Opportunities of Islamic Microfinance

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Ebdaa Bank for Microfinance-Sudan Model of Islamic Microfinance Experience

By: Nawal Abdallah

• Ebdaa Bank for Microfinance-Sudan was founded by AGFUND

• It is practice began officially in December 2013 with a total capital $ 5,000,000.

• Ebdaa’s institutional shareholders (AGFUND) (IDB) (FCB) Sudan (SMDC) (EDB) Sudan other individuals private sector investors

Objective Provide financial and non-financial services to increase economic opportunities and investment for target groups.Target groupswomen, youth and disable with special needs

Page 2: Nawal Abdallah, Ebdaa Microfinance Bank, Sudan, The Challenges and Opportunities of Islamic Microfinance

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Access to Resources

Access to Resources by two ways :

The first method is using modaraba It is wholesale finance .two parties are involved (ebdaabank

&commercial bank)The profit from the modaraba contract is shared by the

financier and Ebdaa bank according to a pre-determined ratio usually about %60 and %40 for financer and Ebdaa bank respectively

using such method Ebdaa managed to get amount of 4.5 millions during the two years 2014 and 2015

The second method (savings mobilization) using modaraba to attract deposits from customers .

by using such method Ebdaa was able to move the savings and deposits amounted to 0.6 million

Page 3: Nawal Abdallah, Ebdaa Microfinance Bank, Sudan, The Challenges and Opportunities of Islamic Microfinance

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Loans products. Islamic products

Islamic modes of finance

No of loans Volume of loans $ millions

% of loans

Murabaha 10,225 4.5 61.5

Salam 1,958 0.59 11.5

Musharaka 2 0.005 0.5

Ijarah 1,785 0.9 10.5

Mogawala 2,630 1.3 16

Total 16,600 7.3 100

Page 4: Nawal Abdallah, Ebdaa Microfinance Bank, Sudan, The Challenges and Opportunities of Islamic Microfinance

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Achievements after tow years• Ten branches

• 16,600 loans disbursement

• $7.3 millions value of loans disbursed

• 19,000 saving accounts• 1,980 solidarity group

• 90% Women borrowing • Operational efficiency

125%

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- Lack of awareness for customers in Islamic modes of finance

- Relatively high cost and long procedures in implementing Morabaha

ConclusionEbdaa Sudan established under an encouraging environment and well developed regulatory framework. This situation could favor Ebdaa Sudan to play a vital role as incubator for all AGFUND banks in different countries.

Some Challenges

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Thanks