Iraqi Al-Aman Center

The Iraqi Al-Aman Center is an institution that is building a sustainable foundation of providing quality, demand-driven financial services. It is a non-governmental organization registered in the NGO office under ID#70240. Al-Aman was established in 2005 and started operations in July 2006. It provides financial services, now only loans, to micro and small businesses. The Izdihar/Tijara USAID Provincial Economic Growth Program has supported Al-Aman technically and through funding.

Al-Aman has one main office in the Kirkuk Governorate and four satellite offices in the districts of Taza, Hawija, Daqoq and Abbaci. It has an outstanding loan portfolio of $4,645,397 as of the end of December 2010 with 4,030 clients, of which 20% are women. It maintains a 0.30% portfolio at risk (PAR), and a repayment rate of more than 98.6%. Operational self sufficiency as of the same date was 270%.

Al-Aman has four categories of individual lending: (a) small business, (b) transportation; (c) home improvement, and (d) Islamic. It looks forward to developing new products in the near future.

Al-Aman is overseen by an elected body of governing members of a Board of Directors. It is managed by a highly qualified, motivated and proactive Executive staff.

Vision

The vision of Al-Aman is to improve Iraqi living standards, especially in the Kirkuk Governorate. It contributes to enhancing social and economic stability through micro and small loans to low income entrepreneurs.

Mission

The mission of Al-Aman is to help low income people develop their businesses, through the provision of quality financial services. Al-Aman emphasizes the offer and provision of these services to women. Loans are adapted in terms of size and term according to the needs of their businesses. The intended consequence is the creation of wealth and jobs, leading to the improvement of overall living standards.

Al-Aman Objectives

1. Support small businesses and develop them through lending them small amounts for short periods of time, and motivate them to grow and expand.
2. Focusing on small businesses that can create more job opportunities for jobless people, and enhance the living standard of the owners of these businesses.
3. Prepare a database about small and medium businesses including all information about its work nature.