GTZ starts 2nd phase of supporting CBY in microfinance banks supervision

YEMEN - GTZ started, on Saturday June 27th, the last training course for the microfinance team from the Central Bank of Yemen and Al-Amal Bank on strategic planning in Microfinance. This is the last training in a planned series of workshops named as the first phase of the Yemeni-German Private Sector Development Project (GTZ-PSDP) in cooperation with CBY.

GTZ also started the second phase of its project in CBY after the Microfinance Law was approved by the Yemeni parliament two months ago. This phase should work with CBY to issue Microfinance regulations, license requirements and procedures, on- site supervision manuals, and off-site manuals, in addition to providing training to the CBY Microfinance team in both on-site and off-site supervision.

“By the end of this year, the regulations and license requirements will be ready in addition to both on-site and off-site manuals, and early next year the training on off-site and on-site supervision will take place,” said Ozaina Al-Jundi, advisor for microfinance at the GTZ-PSDP.

Recently GTZ, in cooperation with AFD and KFW, analyzed the capacity needs of Al- Amal Bank to provide technical assistance. This will cover part of Al-Amal Bank’s needs, focusing on the most important activities in Microfinance Banks such as saving and internal control, which are currently strongly needed by the Bank.

As an international cooperation enterprise for sustainable development with worldwide operations, the federally owned Deutsche Gesellschaft für Technische Zusammenarbeit (GTZ) GmbH supports the German government in achieving its development policy objectives. It provides viable, forward-looking solutions for political, economic, ecological, and social development in a globalizing world. Working under difficult conditions, GTZ promotes complex reforms and change processes. Its corporate objective is to improve people’s living conditions on a sustainable basis.

Related Content

•  Tribesmen abduct SJC head's brother
•  7 people arrested for possession of weapons
•  Al Qaeda member arrested
•  70 Ethiopians arrested in Yemen
•  Five killed, three wounded in floods
•  Eritrean pirates hijack 4 Yemeni fishing boats
•  Eritrean pirates capture 6 Yemeni fishing boats
•  Diesel smuggler seized in Hadramout
•  Documentaries enhance youths’ voice
•  Two and half tons of corrupt goods spoiled, municipality director of Addalea