In association with the Mohamed Bin Rashid Establishment for Young Business Leaders, PlaNet Finance UAE, a premier non-profit organization dedicated to alleviating poverty through microfinance, will be hosting the first Microfinance Forum to be held in Dubai on the 5th and 6th November.
“We are very excited about this first UAE Microfinance Conference and are confident that the people in the Middle East region will contribute toward and support such a significant initiative that contributes to the welfare of society as a whole,” said Her Excellency Sheikha Lubna Al Qasimi, Minister of Economy, UAE.
The two-day program entitled "Microfinance in the MENA region: A tool to fight poverty and unemployment" will bring together high-ranking government officials, UN representatives, microfinance practitioners, financial experts, concerned businesses and community leaders from across the Arab world in a bid to create understanding about the need for microfinance in the Middle East and Gulf region. Emaar will be the main sponsor, along with Aramex, Visa, Air France and Headline Public Relations.
“Microfinance is increasingly seen as a key tool for implementing effective strategies in the long-term fight against poverty,” said Jacques Attali, President of PlaNet Finance and keynote speaker at the conference.
“This conference aims at spreading the word about the tremendous work being done in the Arab world in the microfinance field, and at doing more, by discussing the various experiences and by showing that microfinance is a new segment of finance, ethical finance, that can and will complement Dubai’s status as a world-class financial centre ” added Jacques Attali.
Abdul Baset Al-Janahi, Executive Director of the Sheikh Mohamed Establishment for Young Business Leaders, explained that the support of the Establishment for this conference is part of a strategy to promote activities related to entrepreneurial spirit that will open new dimensions for new projects. “This first forum on microfinance is of utmost importance as it aims at discussing a financing system that could assist the ever-growing numbers of potential micro-loan beneficiaries,” added Al-Janahi. “This conference promises to build-up awareness and contribute towards the development of an entrepreneurial culture within society”.
The provision of small-scale financial services to the poorest and to those who are excluded from the formal banking system has proven to be one of the most efficient instruments to help create economic opportunities for the poor. Microfinance includes many financial and non financial services such as microcredit, savings, microinsurance, money transfer, credit for housing, credit for education, credit for health, microentrepreneur training and education about health and hygiene.
“The Middle East has witnessed a boom in regional economy driven by thriving oil, hospitality, tourism, construction and retail sectors,” said Claire Cabanel Rey, Executive Director, PlaNet Finance UAE. “It is, however, a lesser-known fact that one in five persons in the Arab World lives on less than $2 a day. Microfinance will pave a path which will enable the poorest to access the basic necessities of life, better healthcare facilities, education and a better tomorrow.”
The conference will be addressed by representatives of various organizations such as CGAP (USA), IFC, SANABEL (Microfinance Arab Network, Egypt), UNRWA (Palestine), National Microfinance Bank (Jordan), Al Amana (Morocco), Microfund for Women (Jordan), KFW (Germany), Portland Trust (UK), The Grameen Foundation, MicroCred (France), BankMuscat, Visa and PlaNet Finance, among others.
In the UAE, PlaNet Finance is supported by H.E. Sheikha Lubna Al Qasimi, Minister of Economy. Its Board members include H.E. Sheikh Sultan Al-Qasimi, Chairman and CEO, Gulf Holdings, Mr. Saad Abdul-Latif, President, Pepsico International MEA, Mr. Tawhid Abdullah, Director, Damas, Mr. Jacques Attali, President of PlaNet Finance H.O. and Mr. Sébastien Duquet, Managing Director of PlaNet Finance H.O.
For more information on the conference, please visit
www.dubai-microfinance.org.
