Bahrain opens bank under Grameen model

Family Bank, a microfinance bank licensed by the central bank of Bahrain, opened in Bahrain on Thursday, said a statement of Yunus Centre.

Nobel Laureate Prof Muhammad Yunus and Chairman of the Board of Trustees of the Royal Charities Organisation Prince Shaikh Nasser bin Hamad Al Khalifa inaugurated the bank at a ceremony at the Gulf Hotel Convention Hall in Bahrain.

The ceremony was held under the patronage of King Hamad bin Isa Al Khalifa. Minister for Social Development Dr Fatima Al Balooshi was also present.