What is NENARACA
NENARACA is a voluntary regional association of credit institutions and agencies in the Near East and North Africa Region that deal directly or indirectly with agricultural credit operations and development. It was established on 8th December 1977 in response to a growing need among the countries of the region and for fulfillment of the recommendations by FAO 1975 World Conference on Credit for Farmers in Developing Countries for establishing Regional Credit Associations (RACAs). NENARACA enjoys an autonomous financial and administrative status and legal entity.
Aims And Objectives
The main objective of NENARACA is the establishment of strong foundation and guiding principle for sustained and effective development of agricultural credit systems and efficient agricultural credit institutions in the countries of the Region, that could assist in the promotion and acceleration of agricultural and rural development in the most desired and efficient manner. Most specifically the main objectives are
a) Stimulate cooperation in the fields of planning and development of financial services for rural development.
b) Facilitate among its members systematic interchange of information and experiences.
c) Encourage studies and organize specialized symposia to discuss issues of common interest in work functions and policies.
d) Coordinate and organize training programmes for upgrading agricultural credit and banking skills of the staff of member institutions.
Membership is open to all credit institutions which deal directly or indirectly with agricultural credit and operate in the Near East North Africa Region which include all Arab countries plus Afghanistan, Cyprus, Pakistan, Turkey and Iran.
Institutions eligible for membership include agricultural credit institutions, agricultural credit cooperatives, central banks, commercial and development banks involved in lending agricultural sector, government departments dealing with agricultural credit and training, and research and training institutions in the field of agricultural credit. NENARACA may accept NGOs which deal with rural credit as associate members if their financial resources are limited.
Membership in 2003 reached 23 member institutions from 16 countries of the Region. Annex (1) shows the names of the member institutions.
List of Member Institutions:
ALGERIA:
- The Agricultural & Rural Development Bank
CYPRUS:
- Central Bank of Cyprus
- Cooperative Central Bank Ltd.
EGYPT:
- The Principal Bank for Development & Agricultural Credit
IRAN:
- The Agricultural Bank
IRAQ:
- The Agricultural Cooperative Bank
JORDAN:
- Agricultural Credit Corporation
- Noor Al-Hussein Foundation
- Development & Employment Fund
KUWAIT:
- The Industrial Bank of Kuwait /The Agricultural Credit Portfolio
LEBANON:
- National Union for Cooperative Credit
LIBYA:
- The Agricultural Bank
MOROCCO:
- Caisse National de Credit Agricole
SULTANATE OF OMAN:
- Oman Bank for Development
PALESTINE
- Palestine Monetary Authority
SYRIA:
- The Agricultural Cooperative Bank
SUDAN:
- Farmer's Commercial Bank
- The Agricultural Bank of Sudan
- Islamic Cooperative Development Bank
- Central Bank of Sudan
TUNISIA:
- Banque Nationale Agricole
- Banque Tunisienne de Solidarité
YEMEN:
- Agricultural Cooperative & Credit Bank
Organization and Management of NENARACA
NENARACA has a General Assembly which is composed of the representatives of all member institutions, and convenes on ordinary meetings once in every two years, and elects from its members the Executive Board Members for a two-year term office.
The Executive Board consists of the Chairman, Vice-Chairman and five members representing the various sub-regions of the Near East and North Africa Region. The Board is responsible for directing the activities of the Association and exercising supervision over the General Secretariat.
The General Secretariat which is permanently posted in Amman, Jordan consists of the Secretary General, Administrative and Technical Assistant and Secretary.
The present Executive Board 2002/2003 :
Chairman
Mr. Spyros Stavrou
Representative of the Central Bank of Cyprus
Vice-Chairman
Mr. Alhadi Zaar
Representative of Banque Nationale Agricole, Tunisia
Mr. Owaidah Fua'ad
Representative of the Principle Bank for Development and Agricultural Credit/ Egypt
Member
Mr. Nimr Nabulsi
Representative of the Agricultural Credit Corporation, Jordan
Member
Mr. Bashir Ahmad Al-Basir
Representative of the Agricultural Bank, Libya
Member
Mr.Faisal Al-Qasim
Representative of the Agricultural Cooperative Bank, Syria
Member
Dr. Moh'd Hmoud Alwathan
Representative of the Cooperative & Agricultural Credit Bank, Yemen
Member
Dr. Moh'd R. Mustafa
NENARACA Secretary General
Member
Mr. Khidr Abdalhaleem
Rural Finance Expert
Secretariat:
-Dr. Moh'd R. Mustafa
Secretary General
-Ms. Wafa'a Naber Twal
Administrative and Technical Assistant
-Ms. Aida Khader
Researcher/Secretary
Financial Resources of NENARACA
The financial resources of NENARACA is composed of annual membership fees at a rate of US$ 3,000 per member, payments received to the fulfillment of contracts undertaken by NENARACA for the benefit of others in the field of training activities or research, translation,...etc.
In addition, NENARACA receives technical assistance to carry out specific activities requested by international organizations which are interested in agricultural development in the Region. The organizations which comes first at the top of the list are the International Fund for Agricultural Development (IFAD) and the Food and Agriculture Organization of the United Nations (FAO)
It is worth mentioning that IFAD provided NENARACA with technical assistance that has enabled it to carry out a broad spectrum of activities.
Address
C/O Agricultural Credit Corporation
P.O.Box 77
Amman, Jordan
Telephone: (962)(6) 5668632 / 5661105
Telex: 24124 CRDCOR JO
Fax: (962)(6) 5690816
Email: nenaraca@nets.com.jo
info@nenaraca.org
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