First Lady Mrs. Wafaa Sleiman considered the launching of Najah Loan as a new step towards the empowerment of Lebanese women through helping them finance micro credits and small to medium sized projects. She also added that these loans aim at making the dreams of many women achievable in our real world.
This statement was made during a signature agreement between the President of the National Commission for Lebanese Women (NCLW), the First Lady Wafaa Sleiman – represented by Esq. Fadi Karam, NCLW Secretary General – and the Chairman & General Manager of Fransabank Mr. Adnan Kassar – represented by Mr. Philippe El Hajj, Deputy General Manager at Fransabank. By virtue of this agreement, Fransabank will provide banking loans for women who wish to finance their small and medium sized businesses, through the National Commission for Lebanese Women. This cooperation agreement resulted in the launch of the first of its kind “women-targeted” loan in Lebanon, the new Najah Loan targeted to ambitious Lebanese women as it allows them to enhance their families’ standard of living through the development of businesses that contribute to the growth of the national economy in the industrial, services, tourism and trade sectors, while benefiting from reduced interest rates and various facilities such as extended grace periods and elongated repayment period.
Esq. Fadi Karam inaugurated the ceremony by quoting Victor Hugo’s statement: “Those who empower women, empower the rest of its family members too”. Based on this belief, he added, “NCLW’s main objective is to provide women with exceptional job opportunities through very competitive financing programs.” He further explained: “through the joint efforts exerted between the Commission and Fransabank, the project of the signature of this protocol that we are celebrating today was born, enabling women to have access to small, medium sized and guaranteed loans.”
As for Mr. Hajj, Deputy General Manager at Fransabank, he insisted on the importance granted by Fransabank on the financing of micro-businesses, as well as small and medium sized businesses. He elaborated: “Fransabank is also recognized for its impressive achievements over the years in this field by offering products and services targeted to all market segments and business sectors. In 2010 and 2011, for example, Fransabank was the first Bank in Lebanon to launch its first-of-its kind agricultural loan, displaced housing loan, housing loans for the Internal Security Forces, energy loans and many other products that highlights the Bank’s leading role in innovation and relationship with the widest number of productive sectors.” About the details of the loan, Hajj added: “The Najah Loan ranges between loan amounts as small as LL750,000 and LL 50 Million.”
In his turn, President Kassar declared: “we are witnessing today the birth of a special cooperation agreement with NCLW, our partners in the development of national economy” He added: “We, at Fransabank, have always stressed on the Bank’s full commitment to its major role to the service of the national economy and all its productive sectors, through having the largest local branch network from border to border, in the purpose of serving the needs of different segments in the Lebanese society in general and the “Lebanese women”. All this confirms our commitment to support the National Commission for Lebanese Women in its mission to offer better employment opportunities and empower Lebanese Women’s productive capabilities.” He concluded: “all this reflects our confidence in the capabilities of women in the development of the national economy and their role in serving the societies that live in.”
As for the First Lady Mrs. Wafa Michel Sleiman, she stated: “Today we are marking a new milestone towards empowering Lebanese women and helping them finance small and medium sized businesses that are expected to provide a secure and fixed financial revenue for their families. This will also represent an opportunity for them to work independently on a flexible job that will make them partners in the development of society. She also added: “the main objective behind these small, and medium-sized loans is that it allows the dreams of many women come true, especially the ones who suffer from unfavorable economic conditions. A simple yet sufficient capital could be the solution to funding their small businesses; which become shortly part of the productivity cycle within the business sector.
First Lady asserted that the incentives and facilities included in these loans are an opportunity to rise above the financial barriers that obstruct women’s creative ideas’ implementation. Today, successful women can initiate their own business in industry, agriculture, tourism and even technology while relying on a financial shoulder. She stated: “I seize this opportunity today, to assert once again my belief in the active role played by women in all business fields. I look forward to strengthen and support Lebanese women’s potential with different and effective means to serve them in particular and the Lebanese society at large.”
Finally, First Lady Sleiman thanked Fransabank for believing in NCLW’s vision and mission; a belief that was concretized by providing a real opportunity for Lebanese women to overcome obstacles for suitable financial independence that could meet at the same time their potential as well as their aspirations.
The conference was attended by key officials from both institutions with a select panel of journalists that gathered around a celebrative cocktail reception.