Micro finance

Export Development Bank has the lead in the field of social support in the belief in its important role in bringing about the economic and social development of the country. The Bank's interest in this was due in 1990 when the Bank's Small Projects Producers Unit was established to support small producers with easy terms and procedures. The role of this unit has been extended to extend the attention of small producers to all the cities where the Bank's branches are located. The activity of this unit has also found the attention of the senior management, which delegates to these cities to evaluate the experience. The Bank's interest in social support issues increased at the initiative of the Bank's Board of Directors in 2003 to allocate a ceiling to support the Bank's small shareholders and small producers. With the passage of time, when the state's interest in social support issues increased and the Central Bank of Sudan issued its directives, the Bank quickly translated these directives into a reality based on its proven experience in this field. It established the Microfinance Unit and created the necessary capabilities and environment. Specialists in the area of ​​microfinance, in support of small groups by product definition, guidance and banking and savings awareness. Microfinance included industrial, agricultural, service and gender (men and women).

Microfinance
Microfinance concept:

Microfinance means any financial or financial facility granted to an economically active poor or to a group of economically active poor in accordance with the Bank's terms.
Target groups :
Target groups for microfinance clients from all sectors of rural and urban society (small producers, craftsmen and handicrafts, junior professionals, graduates, heads of households, small farmers, students, pensioners, low-income workers and workers) as well as trade unions and professional associations.
Microfinance Areas:
• Small loans often for working capital.
Agricultural: small enterprises (agricultural orchards, agricultural cooperatives, agricultural greenhouses and others).
• Animal: poultry farming, fish farming, livestock breeding.
Industrial: oil and soap factories, small workshops and blacksmithing and maintenance of cars and others.
Services: different types.
Conditions for granting microfinance:
• The project is permitted according to the Central Bank regulations.
• Submit an application signed by the customer including the address in detail and telephone numbers.
• Complete the Demographic Data Form of the Central Bank.
• A simplified feasibility study and preferably productive projects.
• An initial invoice for the value of the item or service, ensuring that the initial invoice holder has final invoices stamped with the tax stamp; goods that by nature have no invoices can be documented by a lawyer.
• A sealed residence certificate signed by the People's Committee for the purpose of micro finance.
• Modern photos of the size of the passport.
• Photos of valid identification and a copy of the national number.
• Certificate of practicing commercial activity or a lease contract and a copy of the certificate from the People's Committee confirms the existence of the project.
• Inquiries about the customer with the Central Bank of Sudan.
• Bring a certificate of annual income in the case of employees and a written undertaking from the employer to pay any amount that the taxpayer is unable to pay his entitlements in case of leaving work for any other reasons.
• The applicant must have a current account in the bank.