Top officials at the event in Dubai on Wednesday.
Business Bureau, Gulf Today
The Mohammed Bin Rashid Fund (MBRF) of Dubai SME, the agency of Dubai Economy mandated to develop the small and medium enterprise (SME) sector, and First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, have formed a partnership to launch a new receivable financing programme for Emirati- owned SMEs in Dubai.
The memorandum of understanding was signed at FAB’s Sheikh Zayed branch in Dubai, by Abdul Basit Al Janahi, CEO of Dubai SME, and Hana Al Rostamani, Group Head of Personal Banking at FAB, in the presence of senior officials from both parties.
Under the agreement, FAB will offer Dubai SME Emirati-owned suppliers with an easy and tailored solution to secure financing against sales invoices. In addition to settling payments, the programme will offer Emirati entrepreneurs with preferential rates, and a wide array of FAB’s suite of Business Banking products and services.
Abdul Basit Al Janahi, CEO of Dubai SME, said: “The partnership with FAB is a significant opportunity for Dubai SME Emirati-owned suppliers to benefit from the diverse financing options increasingly available in the UAE. Dubai SME has supported the growth and expansion of 7,000 startups since 2002. We also enable our member SMEs to benefit from government contracts and the net value of contracts thus facilitated by Dubai SME now stands at Dhs 5.2 billion.”
Al Janahi also emphasised Dubai SME’s commitment to building partnerships with businesses and organisations to ensure SME access to the required resources, including knowledge, human capital and funding to move confidently through every stage of their growth.
DUBAI: Aramex announced its financial results for the second quarter and the first half ended 30th June 2019. The company’s Q2 2019 revenues grew by four per cent to Dhs1,279 million, compared to Dhs1,232 million in Q2 2018. Revenues would have grown by seven percent excluding the impact from currency
Blue Ocean Group, a Dubai-based master distributor of consumer electronics, domestic appliances, electrical goods, telecom equipment as well as fashion accessories, today announces its expansion in to the United Kingdom, ahead of Brexit, which is expected to change the market dynamics in the United Kingdom. This makes Blue Ocean Group
As part of its leading role amongst regional exchanges as well as its status as ‘The World Class Regional Marketplace’, the Dubai Financial Market (DFM) launched its Sustainability Strategic Plan 2025 aimed at underpinning its continuous efforts to promote Environmental, Social and Governance (ESG) best practices
The Business Registration and Licensing (BRL) sector in the Department of Economic Development (DED), Dubai, in its new report, states that 514 companies operate in the spice trade sector in Dubai. The report, which includes statistics on the number of companies operating in Dubai and their activities,
The Sultanate of Oman welcomed more than 3.5 million tourists in 2019, which reflected an 8.14 per cent increase as compared to the number of visits registered in 2018.
UAE-Russia food trade has increased steadily in recent years due to cooperation on food security and Moscow’s efforts to diversify exports, however, a recent Dubai Chamber of Commerce and Industry webinar
Britain’s house prices fell in annual terms for the first time since 2012 in June as the country reeled from the coronavirus shock to the economy, mortgage lender Nationwide said on Wednesday.
India’s additional scrutiny of imports from China has disrupted operations at plants owned by Apple supplier Foxconn in southern India, three sources told Reuters, and other foreign firms are also facing delays as tensions between the two countries build.