Sanabel The Microfinance Network of Arab Countries
Overview
Sanabel was established in 2002 when 17 representatives from 7 Arab countries gathered in Tunisia to launch the first and only network designed to serve microfinance institutions in the Arab world. At this meeting the group adopted by-laws and membership criteria, articulated a vision, mission and objectives and elected an executive committee. At its General Assembly meeting in December 2003, Sanabel members voted to formalize the organization by registering Sanabel as a not-for-profit organization and to establish a regional office. In 2004, the organization was incorporated and registered as a nonprofit organization in both Atlanta, Georgia, USA and in Cairo, Egypt where the headquarters is located.Between its founding in 2002 and the completion of its first strategic plan at the end of 2007, Sanabel grew to 60 members from 12 different countries. By the end of 2007, Sanabel’s members served 2.4 million borrowers with a gross loan portfolio of USD 988 million. The network had successfully completed its initial phase of development and was looking onto developing a new strategy that defined a more mature level of development.
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