Dubai SME Ties up with Dubai First to Facilitate SME FundingSource: www.export-egypt.com 10/19/2016, Location: Middle East |
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Dubai SME, the agency of the Department of Economic Development, DED, mandated to develop the small and medium enterprise sector, has signed a Memorandum of Understanding, MoU, with Dubai First, one of the leading consumer finance companies in the UAE, to facilitate SME access to funding.
The agreement will see Dubai First providing collateral free financing to SMEs to enable them to meet their business and working capital requirements. In addition, SME owners will receive pre-approved Business Flex Credit Cards with pre-set limits, flexible interest rates and rewards. Abdul Baset Al Janahi, CEO of Dubai SME, said, "To ensure the future success of the SME sector in Dubai, the support and partnership of organisations like Dubai First is essential. I am delighted that we have now established this new partnership and I am confident it will prove a further catalyst for continued SME sector growth. The financing options that Dubai First offers will help many SMEs to expand their businesses and make an increasingly important contribution to the UAE economy." Amit Talgeri, CEO of Dubai First, added, "We are proud to have partnered with Dubai SME to support the growing number of entrepreneurs in the country. They are essential to building a stronger SME sector, which plays an important role in the development of the UAE. There is enormous potential for Dubai First to help meet the business needs of SMEs and bridge financial gaps. This strategic partnership is part of Dubai First’s commitment in engaging with key initiatives that are critical to Dubai’s growth story." |
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