Emirates Islamic, one of the leading Islamic financial institutions in the UAE, recently organised ameetingfor UAE nationalSME owners, who are members of the Entrepreneurs Forum in Dubai,to showcasehow the bank can support the growth of their businesses through its various SME-focused offerings.

Titled:‘Emirates Islamic at the service of SME owners,’ the event was organised in collaboration with theEntrepreneurs Forum at the InterContinental Hotel - Dubai Festival City. The event saw the participation of more than 100 UAE national SME owners and entrepreneurs from across the UAE, in addition to representatives from the bank and the Entrepreneurs Forum in Dubai.

Board members of the Entrepreneurs Forum also identified approximately AED 170 million as the total essential financial requirements of its members.

AbdulMonemBinEisaAlserkal, Chairman, Entrepreneurs Forum in Dubai, highlighted the importance of EmiratesIslamic’s initiative to supportthe forum’s members. He underlined that this initiative will play a significant role in clearing financial obstacles faced by UAE entrepreneurs and start-up companies, as theseoften impact the businesses negatively.

Alserkalapplauded the commitment shown by the members of the Forum in attending the successful eventorganisedin association withEmirates Islamic, to provide SME owners with tailor-made financial products and services.He also stressed the importanceof hosting similar events byotherorganisations,toprovide entrepreneurs withnetworking opportunitiesthat wouldenhance their businesses and create more leads.

Mohammed Al Shaer, District Manager, Branches -Sharjah and Northern Emirates at Emirates Islamic, highlighted the significance of SMEs, as arobust pillar of the UAE economy. He statedthat SMEs account for 92% of all firms in the UAE, 86% of the workforce and contribute around 60% to the UAE GDP.

Al Shaerexpressed Emirates Islamic’s commitment to support SMEs in the UAE, as part of the bank’s strategy to promote entrepreneurship and support the UAE’s growth.He said the bank’s commitment is also in line withthe strategic objectives of the UAE Government to encourage organisationsto provide financial and non-financial services, aimed at helping entrepreneurs achieve economic and social empowerment.

He added that Emirates Islamic provides entrepreneurs with a wide range ofinnovativeSharia-compliant products and services tailored to helpSMEs manage cash flow, including finance ofcommercial vehicles andmachineries, to name a few.

SME owners attending themeeting also took the opportunity to discuss the variouschallenges they face, particularly with regard to obtaining credit facilities

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