The Moroccan Salma Kadiri invited by the Javea Neighbourhood Forum gave a speech last November 15th on ¿How micro finances can strengthen women’s independence?, in front of one hundred people.

Her presence in Jávea was made possible thanks to the organisation of the Jávea Neighbourhood Forum and the sponsorship of CAM. The sharing of experiences between young people of the Euro Mediterranean area is one of the objetives of both organisations. In addition, the Javea Neighbourhood Forum and CAM recognise that in this very difficult period of the world economies, it is useful to hear the experiences of such as Al Amana who have been able to dignify the life of millions of people as a result of the provision of micro finances.

“Micro finances bring real help to those in poverty who have an activity and want to develop it, but it is not a miracle solution for the eradication of a country’s social problems. Although they are a way of facilitating access for those excluded from finance and financial services”. These words were spoken in the Jávea Parador, by the Moroccan Salma Kadiri, she is responsible for the Financial Department of the Al Amana Association, the most important organisation in North Africa for the management and granting of micro finances.

As well, the Al Amana representative emphasised that “micro finances help to increase the independence of women that already, with the financial help to manage and develop their activity, can choose. This gives them pride and brings them major status within the family, facilitating better integration in society”. According to a recent study, a third of Moroccan women said that they have increased the management capacity of their projects thanks to micro finances.

During the first part of her presentation, and during the video projection, Salma Kadiri mentioned some of the people that have organised projects thanks to micro finances from Al Amana. Among others, a dressmaker, a beekeeper, and a rug weaver. Afterwards, she answered questions from a delegate from the daily newspaper La Vanguardia of the Valencia Region, Salvador Enguix, on the activity of Al Amana and the management of their assistance. Among others aspects, Salma Kadiri emphasised that “micro finances are based on the confidence and good will of those requesting them as well as the solidarity between the women”

Al Amana is an organisation that was created in 1997 that now consists of more that 2,000 employees in more than 400 agencies all over Morocco. In the last 10 years, more than 800,000 Moroccans have benefited from help given. During this period Al Amana has managed around 1,000 millions of Euros, a third of this in 2007.

The Javea Neighbourhood Forum and CAM are both agreed on the importance of this type of activities for women in developing countries. With the Salma Kadiri conference, Javea Neighbourhood Forum and CAM are initiating a collaborative project to schedule a series of “large scale conferences” to include those who wish to spread knowledge of activities key to the economic and cultural development of these societies.

Al Amana

Al Amana is an association of Moroccan law created February 13th 1997, with the objective to manage the granting of micro finances in this country, and that counts with the

Since its creation around 900,000 Moroccans, from both rural and urban areas, have benefited from these micro finances, above all those that were not able to gain access to the “conventional” banking credit system. In Morocco, 80% of the population do not hold a bank account, and have no access to conventional credit. Al Amana offers loans for economic activities and also to finance housing. The amounts run from 1,000 dirhams (approximately 90 Euros) to 50,000 dirhams (4,545 Euros), which are paid back in specified stages over as much as 3 years. Payments may be weekly, monthly or bimonthly.

 “Mutually binding loans” are agreed between members of groups of 3 to 5 business people of small businesses that provide a mutual guarantee; but for these a true guarantee is not demanded. The individual loans are designated for equipment for small businesses and the improvement or acquisition of housing. Very often they are given simply on a personal signature.

Al Amana has also initiated a line of small insurance products for medical cover for its clients, within a national program which includes the insurance companies and insurance agents. The role of Al Amana is especially important to the personal and business development of Moroccan women, in a society in which women do not enjoy the same opportunities as in European Union countries. Al Amana has always wanted to contribute to social integration and economic development by means of micro finances and the promotion of small business – an activity that has improved working conditions and the personal and family life of its clients. With this in mind, Al Amana wants to play a role in the extension of financial services to those who at the moment are excluded, and as a result have fragile resources.

Al Amana considers that the financial sector can and should develop a range of services directed at these people; and that contributing institutions should look at integrating micro credit into conventional financial systems. Salma Kadiri (Morocco 1980) has been since February 2006 responsible for the financial department of Al Amana, dedicated to the management and provision of micro credits. Among her responsibilities is the direction of financial management for this organisation including refinancing, treasury, management and security of bank accounts of the association and the control of finance streams. Her department consists of 15 personnel.

Previously she was responsible for the refinancing service of Al Amana. Salma Kadiri is licensed (2002) by the ISCAE of Casablanca and is master of microfinance of the Italian University of Bergamo. Her work dealt with the financial evaluation of business in the service sector.