MICROCAPITAL BRIEF: Aden Bank for Microfinance to Target MSMEs, Women, Youth in Yemen

Based on the authorization it received in October 2021 from the Central Bank of Yemen, Aden Bank for Microfinance is moving forward with plans to offer financial services in the country. Aden Bank is arranging partnerships with local financial institutions to offer both financial and non-financial services to micro-, small and medium-sized enterprises (MSMEs). The bank also is developing products designed to meet the needs of women, youth and other vulnerable groups. This is to include “flexible financing products aimed at improving job opportunities and focusing on the green economy.”

According to Saleh Awadh, the Chair of the Aden Bank Board of Directors, “The bank will launch its business through fixed and mobile… service points, which will cover all parts of the country to be the ideal partner for national and international financial, development and commercial institutions.”

Staff of the bank can be reached via email at info[at]aden-bank.com, but no telephone number is offered. The bank’s website is scheduled to go live in February 2022.

By Zachary DeLuca, Research Associate

Sources and Additional Resources

Aden Bank press release on FinDev Gateway
https://www.findevgateway.org/news/aden-bank-microfinance-launch-its-operations-and-contribute-achieving-financial-inclusion

Aden Bank homepage (under construction as of December 2021)
https://aden-bank.com/

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