Our expert, Omar Abdulaziz Hallaj, supports the Syria Trust for Development in establishing Al-Wataniya Bank in Syria, a pioneering effort in the field of micro-finance within the country. This initiative was set against a backdrop where micro-finance was just emerging in Syria, characterized by the absence of a comprehensive regulatory framework and the recent introduction of a new law governing microfinance, for which implementing bylaws had yet to be issued by the Central Bank of Syria.

To launch this project, three institutional partners – the Syria Trust for Development, the Syrian Computer Society, and The Syrian Commission for Employment and Project Development – joined forces. This collaboration marked one of the early instances of public-private partnerships in Syria, aimed at creating socially responsible enterprises.

Al-Wataniya was planned as a green-field operation, with the Syria Trust for Development being a major shareholder. However, it was to be governed by an independent structure, ensuring its long-term sustainability and economic viability. The institution's management principles were to align with the best practices in both economic and social performance.

A key aspect of the Syria Trust for Development's involvement was the utilization of its dividends from Al-Wataniya to support non-financial business development programs. This strategy was intended to create a comprehensive empowerment cycle, helping economically active users to progress from micro to small and medium enterprises.

Financially Al-Wataniya aimed to reach break-even within 18 to 24 months, with a goal to build a portfolio of 25,000 active users in five years, ultimately benefiting 100,000 people. The emphasis on social performance was crucial, as it would guide the institution in product design, ensure sustainability, and improve access to microfinance services like credit, savings, and insurance, particularly for the economically disadvantaged and young first-time economic participants.

Omar Abdulaziz Hallaj's involvement was multifaceted. He was responsible for developing the concept note and the pre-feasibility study in 2010. He played a crucial role in leading negotiations with partners, providing strategic oversight, and facilitating a shared understanding of the institution's purpose. This groundwork was vital for commissioning further feasibility and market analysis studies. Subsequently, Mr. Hallaj oversaw key staff recruitment and on the first board of Trustees, contributing until Al-Wataniya met all central bank regulations and became a fully independent functioning institution.