His Excellency the Minister of Social Affairs and Labor, Mokhtar Al-Yafie, met today in his office in the capital, Aden, with Ali Al-Kuraimi, Assistant CEO of Al-Kuraimi Islamic Microfinance Bank. The meeting aligns with the Ministry's directives to strengthen partnerships with the banking sector and expand economic empowerment programs for the most needy groups.

During the meeting, discussions covered the experiences of banking institutions in financing and implementing small projects, and mechanisms for developing microfinance tools to help create income-generating opportunities and enhance the livelihood stability of targeted families. Additionally, the challenges facing microfinance programs were reviewed, along with ways to address them through joint coordination and institutional integration.

During the meeting, His Excellency Minister Al-Yafie affirmed that the Ministry views microfinance as a fundamental pillar in the pathway towards social protection and economic empowerment. He pointed out that the current phase requires effective partnerships with the banking sector built on professional and transparent foundations, integrating with the Ministry's plans to transition from relief to empowerment. This, he stated, contributes to the recovery of local communities and the consolidation of social and developmental stability.

For his part, the Assistant CEO of Al-Kuraimi Islamic Microfinance Bank expressed his appreciation for the efforts of the Ministry of Social Affairs and Labor and its keenness to build strategic partnerships with financial institutions. He affirmed the Bank's readiness to expand areas of joint cooperation in the fields of microfinance and economic empowerment programs, to enhance sustainable development and support the target groups.