Our Origins
When WMFI was first established
In December 2011, WMFI was established through creating a partnership between the Syria Trust for Development, the Syrian Computer Society and the Small and Medium Enterprises Development Commission. Since being established, WMFI reflected an institutional response to the opportunities and the supportive legislative environment provided by the Legislative Decree number /15/ of 2007, which set new prospects to advance Infinitesimal and Microfinance Industry in Syria, through creating social banking financial institutions and enabling them to provide a wide range of services by accepting deposits, granting small loans, and providing loan-related insurance services. WMFI was established with a capital of 330 million Syrian Pounds, and now with the support of the Syria Trust for Development, the institution’s capital reached ten billion Syrian Pounds.
Our Values
It is the basis of our daily behavior at work
Respecting human dignity, Openness and Equality: in all relations we create
Quality and Innovation: in everything we provide
Integrity, Transparency and Accountability: in everything we do
Our Goals
Providing financing solutions to enhance the capabilities of small projects and expand the horizons of local communities.
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Our goals: Providing financing solutions to enhance the capabilities of small projects and expand the horizons of local communities. WMFI helps small projects to survive and grow by granting them financing facilities that are not available at traditional banks through granting short-term loans ranging between 500 thousand and 5 million Syrian pounds, for projects that can achieve the largest possible benefit by investing all available funding. This helped the small projects to beat the difficult economic conditions and to overcome the recession that prevailed in the markets.
WMFI is the only non-profit financial institution registered under the laws and legislations of microfinance industry in Syria. WMFI has so far provided loans worth 5.7 billion Syrian pounds to a base of 30 thousand beneficiaries of professionals and small business owners. Since being established, WMFI has played a substantial role in the process of continuous development of the microfinance industry, helping to further empower the legal and administrative landscape of microfinance. |