* Microfinance has emerged as an approach to economic development that targets the poor and low-income groups of women and men and is currently used as one of the tools for poverty alleviation, as it means providing financial services to economically active people with limited income.
* The bank began granting microfinance in 2007.
- The bank provides microfinance service through its spread branches, while adhering to the geographical distribution of each branch.
The bank's microfinance activity covers all sectors, the livestock sector, productive families, craftsmen and professionals, and youth, graduate and women's projects.
The bank participated in financing microfinance projects for social development and infrastructure.
* Microfinance goals:
1- A tool to fight poverty.
2- Contributing to creating job opportunities for low-income people.
3- Implementing policies and directing the state towards caring for the vulnerable segments of society.
4- Equality among citizens by owning resources and providing access to them.
5- Recovering the cost of financing, and making a profit that contributes to the sustainability of its institutions.
* Documents required to obtain microfinance:
1 / Customer's request, including (the purpose of the project - the size of the project - the type of sector - the period of the operation - the type of commodity - the type of guarantee - the type of formula - the method of payment).
2 / A (mini) feasibility study for the project, signed by the client.
3 / Initial bill in the name of the bank.
4 / Signing an acknowledgment and undertaking from the client.
5 / Certificate of activity.
6 / Certificate of housing.
7 / Proof of identity.
* Guarantees:
All the conventional and non-traditional guarantees permitted to operate from the Bank of Sudan.
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