The vision
Bin Dowal Bank strives to become an institution that
employs the financial inclusion to provide optimal
solutions to its customers towards the sustainable
improvement of their living conditions .
The message
Our mission is to operate as a development institution, harnessing our
energies and capabilities in a harmonious manner to serve the local
community. We aspire to apply the highest standards in microfinance
to create a comprehensive model of financial inclusion that benefits our
beneficiaries. Our goal is to empower them both socially andeconomically,
all while adhering to the principles of Islamic Sharia.
Goals
1- Engaging in effective communication with customers and consistently
assessing their needs.
2- Leveraging technology for ongoing enhancement of financial products
offered to customers, focusing to improving service efficiency and reducing costs.
3- Establish strong and productive collaborations with developmental organizations and
civil society groups at both local and global levels.
Statement of Compliance
Yemen, as a member of the Middle East and North Africa Region (MENAFATF), is
committed to adhering to FATF 40 Recommendations regarding toAnti-Money
Laundering (AML) and Combating Terrorist Financing (CFT) recommendations.
According to a recent statement from the Financial Action Task Force (FATF), Yemen
has successfully fulfilled its agreed action plan. Consequently, FATF will continue to
closely monitor the situation and schedule an on-site visit at the earliest feasible
opportunity.
In terms of AML/CFT measures, Bin Dowal Bank has a dedicated compliance team
appointed by the Board of Directors. The bank has also established internal procedures
and policies to identify and combat activities such as Money Laundering (ML), Financing
of Terrorism (FT), fraud, corruption, and bribery. These efforts align with the Yemeni
Law no. (1) of 2010 on Anti-Money Laundering (AML) and Combating Financing of Terrorism
(CFT), which came into effect on January ١st, 2010, in Yemen.
This law, initially enacted in accordance with FATF Recommendations, has undergone
amendments under Law no. (17) of 2013. The corresponding guidelines have been
provided by the Financial Information Unit (FIU) and the Central Bank of Yemen, clarifying
the statutory duties associated with AML/CFT compliance.
FATCA Law:
Bin Dowal Islamic Microfinance bank is registered as FPPI GIIN No:6PTVIH.99999.SL.887
Corporate Governance
To align with corporate governance standards, Bin Dowal Bank's Board of
Directors (BOD) has elevated its adherence to governance principles by
instituting its own Governance Guidelines.
The BOD has appointed several relevant committees, including the
Nomination & Remuneration Committee, the risk Committee, the Audit
Committee, Governance Committee.
Corporate Social Responsibility
Corporate Social Responsibility (CSR) is of strategic significance to every
business.
The bank is actively incorporating the principles of CSR into its corporate
strategic roadmap and seamlessly integrating them into its forthcoming
core business initiatives
