dubai sme adcb sign mou
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

Dubai SME, ADCB sign MoU

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice Dubai SME, ADCB sign MoU

Dubai - Arabstoday

Dubai SME, an agency of the Department of Economic Development (DED)-Government of Dubai, entrusted with the development of the small and medium enterprise (SME) sector, has signed a partnership agreement with Abu Dhabi Commercial Bank to offer benefits to the top 100 SMEs in Dubai.Under the MoU, ADCB will commit to develop a special SME100 package that covers reduced interest rates, funded credit facilities at ADCB’s base rate, priority transaction processing, reduced fees and charges on export transactions, flexible repayment options, access to a complete suite of SME products such as overdrafts, Short Term Loans, Invoice and PDC Discounting, Letters of Credit & Trust Receipt, Loan against Import, Letters of Guarantee, Commercial Vehicle Loan, Construction Equipment Loan, Online Trade Finance platform (Protrade) and Online Fx platform (Fx Freeway).Abdul Baset, Chief Executive of Dubai SME, thanked ADCB for its commitment and kind support of this critical initiative to champion the SME sector. Commenting on the agreement, he said: “This partnership with ADCB only marks the beginning of our SME development journey together, a journey which I’m confident will prove to be of great value to the SME sector. As the Dubai SME100 initiative grows in strength, we expect to see an increase in valued partners, such as ADCB, coming on board, which will only serve to greatly benefit the further positive development of our SMEs.”“The support from partners like ADCB is not just about enhancing all manner of financial assistance but non-financial aspects as well, most notably in the development of financial management capabilities. The UAE’s top SMEs are showing signs of fast growth and we need partners like ADCB to boost our efforts to continue to fuel further growth in the SME sector.” Howard Gaunt, Head of Business Banking Group, ADCB said: “We are very pleased to be part of this partnership with Dubai SME and are greatly looking forward to being able to provide our tailored packages to best help Dubai SME continue to facilitate positive growth within the UAE’s SME market. ADCB places great significance on helping to educate and support SMEs across the UAE, as we firmly believe them to be the backbone of any economy. The SME segment continues to be an area of strategic growth for ADCB and one that we hope to further help develop in the UAE.”In line with the strategy to groom promising SMEs, the Dubai SME 100 ranking will act as a platform, and catalyst, to better identify promising SMEs -facilitating their development into bigger, better and more sustainable enterprises” eventually graduating them to large globally-oriented companies.Unlike other rankings which are based mainly or purely on financial indicators, the Dubai SME 100 ranking places a balanced emphasis on financial and non-financial dimensions of enterprise performance and development.The non-financial dimensions cover Innovation, International Orientation, Human Capital Development and Corporate Excellence. The ranking will also serve as a tool for helping SMEs identify capability gaps for improvement. The ultimate outcome is for Dubai to have more growth-oriented, innovative, capable and sustainable enterprises that can fly the UAE flag high. The basic criterion is that the applicant must be an SME based on the official definition of Dubai’s SMEs, with up to 250 employees and a turnover of up to Dhs250 million. In addition, it must have audited financial statements for at least three years, and be an independent entity registered in Dubai (under DED or any Free Zone).  Over 830 eligible SMEs have been nominated by banks, business councils and Free Zones to participate in the initiative, with more applications coming in. The first ever Dubai SME100 ranking list will be out in late October 2011.Dubai SME’s key strategies are to advocate for the enhancement of a pro-business environment for entrepreneurship and SME development, seed innovative start-ups and groom promising SMEs.The vision is to make Dubai the centre for innovative SMEs to start, grow and expand their businesses thus contributing greater value add to the economy of Dubai.ADCB’s authorised and issued share capital is currently Dhs4.81 billion. ADCB is owned 61.59 per cent by the Abu Dhabi Government through the Abu Dhabi Investment Council.  Its shares are traded on the Abu Dhabi Securities Market.As at 31 March 2011, ADCB’s total assets were approximately Dhs180,705 billion. As at the same date, its capital adequacy ratio was 17.03 per cent From / Gulf today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

dubai sme adcb sign mou dubai sme adcb sign mou

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

dubai sme adcb sign mou dubai sme adcb sign mou

 



GMT 09:54 2018 Wednesday ,24 January

'Friendly and kind' N. Korean skaters

GMT 09:36 2017 Thursday ,07 December

Heidy Karam’s contract to present talk show close

GMT 10:50 2012 Friday ,20 January

Dusty weather expected in UAE on Friday

GMT 09:35 2018 Saturday ,13 January

New Zealand bat first in third ODI against Pakistan

GMT 10:48 2017 Saturday ,23 December

Meryl Streep's brand under threat

GMT 06:53 2017 Thursday ,11 May

17th Doha Forum To Begin Sunday

GMT 10:30 2017 Thursday ,23 November

Reports underline proliferation of weapons in Arab world

GMT 07:46 2017 Monday ,30 October

Catch it early, treat it early and move on

GMT 08:05 2015 Tuesday ,17 February

Conan O'Brien is first late night host to film in Cuba

GMT 16:17 2018 Thursday ,30 August

Five Saudi women pilots granted GACA licences
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice