Supreme Committee of Al Tomooh Finance Scheme reiterates its commitment to support national economy

This announcement came at the regular meeting of the Supreme Committee chaired by H.E. Ahmed Humaid Al Tayer, Chairman of Emirates NBD and Chairman of the Supreme Committee of Al Tomooh Finance Scheme for Small National Businesses.

The meeting was attended by H.E. Hamad Buamim, Director General of Dubai Chamber of Commerce and Industry; H.E. Khaled Bin Butti, Assistant Director General for Membership and Branches, Sharjah Chamber of Commerce and Industry; H.E. Ali Ibrahim Mohammed, Deputy Director General for Executive Affairs, Dubai Department of Economic Development, H.E. Khalid Al Jasim, General Manager of Fujairah Chamber of Commerce and Industry; H.E. Abdullah Omar Al Marzouqi, Assistant General Manager of Economic Affairs, Ajman Chamber of Commerce and Industry; Mr. Isa Naser Al Saeedi, Head of Commercial Development Ajman Chamber of Commerce and Industry, H.E. Dr. Abdul Rahman Al Shayeb Al Naqbi, Director General of the Ras Al Khaimah Chamber of Commerce and Industry; Mr. Suleiman Al Mazroui, Executive Member of Supreme Committee and General Manager Marketing and Corporate Communications, Emirates NBD; and Mr. Abdel Wahid Al Sayyah, General Manager of Commercial Credit Unit, Emirates NBD, as well as other officials of Al Tomooh scheme.

During the meeting, the committee was briefed on the accomplishments made so far and the attendees expressed their satisfaction with the achievements over the last few years.

The Al Tomooh Finance Scheme for Small National Businesses has met the goals that it was established for and contributed to the nationalization of several professions, such as legal practice, medicine, engineering, tourism, agriculture and information technology and supported young UAE Nationals in realizing their dreams.

In addition, Al Tomooh proved a big success in supporting small and medium-sized projects which are pillars of the sustained growth and economic prosperity in the UAE.

Around 100 projects from all business sectors throughout the UAE have been financed and the committee has urged all young UAE nationals, men and women, to submit their projects for initial evaluation and support.

"Al Tomooh Finance Scheme has played an important role in promoting business environment by financing projects in different fields. It has contributed to UAE economic diversification by supporting successful projects from all sectors," said Mr. Suleiman Al Mazroui, Executive Member of Supreme Committee and General Manager Marketing and Corporate Communications, Emirates NBD.

"We are pleased to have been joined by Ras Al Khaimah Chamber of Commerce and Industry and Ajman Chamber of Commerce and Industry whose participation will help us extend the scope of our work to all emirates. After approving 11 new projects this year, the projects financed by Al Tomooh now cover all economic sectors in the UAE and are distributed as follows: 66% of the projects financed are from the services sector, 20% from professional practices, 8% industry, 2% tourism, 2% information technology, 2% agriculture," he concluded.

Al Tomooh Finance Scheme for Small National Businesses was launched in 1998 as an Emirates NBD initiative aiming at financing UAE national projects and supporting young UAE nationals seeking to launch their own enterprises in different sectors, including trade, industry, services, professional practices, information technology and agriculture.