The Arab Gulf Programme for Development (AGFUND) has secured major international recognition for its decades-long efforts in poverty alleviation and economic empowerment. At the Sustainable Development Goals Awards, held in Bangkok, Thailand, AGFUND was presented with the “Excellence in Inclusive Banking and Social Impact” award. The ceremony, which took place alongside the high-profile Annual Meetings of the International Monetary Fund and World Bank Group, highlights the growing global consensus around the critical role of microfinance in achieving sustainable development.

The award was accepted by AGFUND CEO Hammam bin Nasser bin Juraid. Organized by the World Savings and Retail Banking Institute (WSBI)—an institution established in 1924—in cooperation with the European Savings and Retail Banking Group (ESBG), the accolade honors financial models that successfully bridge the gap between commercial viability and deep social impact.

A Foundation Built on Empowerment

Reflecting on the achievement, HRH Prince Abdulaziz bin Talal bin Abdulaziz, President of AGFUND, emphasized that the award is a testament to the organization's long-term vision of using targeted financial services to uplift underserved populations. Prince Abdulaziz credited the founders of AGFUND's microfinance banks, particularly the late Prince Talal bin Abdulaziz, for establishing a network of institutions designed specifically to foster economic independence and strengthen local livelihoods.

According to leadership, the recognition represents the culmination of over two decades of dedicated work by financial inclusion banks, local partners, and the millions of clients who have successfully utilized micro-loans to build sustainable family businesses. By focusing on populations traditionally excluded from the formal banking sector, AGFUND has demonstrated that inclusive financial systems can serve as powerful engines for grassroots economic growth.

Quantifying the Development Impact

Since its inception, AGFUND's financial inclusion banking network has scaled its operations significantly across multiple indicators. The tangible impact of its microfinance model is reflected in several key operational milestones:

  • Capital Disbursed: The network has successfully disbursed more than US$1.37 billion in financing to micro and small enterprises.
  • Client Reach: Over 1.3 million clients have been served by the network's various financial products.
  • Gender Inclusion: Women represent 59 per cent of all borrowers, highlighting AGFUND's focus on gender-focused economic empowerment.
  • Loan Volume: The institutions have collectively issued more than 1.5 million individual loans.
  • Savings Mobilization: Clients have opened over 927,000 savings accounts, fostering a culture of financial resilience.
  • Physical Infrastructure: The network operates 112 branches across its target regions.
  • Employment Generation: AGFUND's microfinance operations directly employ more than 1,500 people.

These metrics underscore a model that goes beyond simple credit provision, focusing instead on building a comprehensive financial ecosystem for low-income families and small business owners.

Regional Footprint and Ecosystem Dynamics

AGFUND's journey in inclusive banking began with the establishment of its first specialized bank in Jordan in 2004. Since then, the organization has systematically expanded its footprint to address the needs of communities underserved by conventional commercial banks. Today, the network spans nine countries:

  • Jordan
  • Yemen
  • Bahrain
  • Syria
  • Lebanon
  • Palestine
  • Sudan
  • Mauritania
  • Sierra Leone

Operating in these diverse and often challenging economic environments requires a highly adaptable approach. By tailoring financial products to local market realities, AGFUND's member banks have managed to maintain operational continuity and deliver critical financial lifelines to micro-entrepreneurs, agricultural workers, and small-scale traders.

Future Horizons: Digitalization and African Expansion

Looking ahead, AGFUND is preparing for its next phase of institutional growth. The organization plans to deepen its impact by focusing on several strategic pillars:

  • Digital Transformation: Advancing digital solutions and innovative financial products to lower transaction costs and reach remote populations.
  • Integrated Development Services: Combining credit and savings products with capacity development, vocational training, market access, and risk protection mechanisms.
  • Geographic Expansion: Exploring new institutional partnerships to extend its sustainable financial inclusion model to additional countries, with a particular focus on Africa.

By adapting its proven microfinance methodologies to new local contexts through strategic partnerships, AGFUND aims to scale its inclusive banking model further, ensuring that financial services continue to act as a catalyst for sustainable social and economic development globally.