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Monday, November 9 - 2009

Mawarid Organizes SME Discussion Forum

  • United Arab Emirates: Tuesday, November 11 - 2008 at 16:45
  • PRESS RELEASE

Mawarid Finance, the Dubai-headquartered finance company, in coordination with the Saud bin Saqr Programme for Young Business Leaders, organizes on November 22nd at Hilton Ras Al Khaimah hotel a discussion forum on the concept of Islamic finance and the role of the government and private organizations in supporting the young entrepreneurs.

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Mawarid Finance in coordination with the Mohammed bin Rashid Establishment for Young Business Leaders last July organized a similar discussion forum in Dubai.

Representatives of many concerned departments and authorities including the Department of Economic Development and the Chamber of Commerce in Ras Al Khaimah will participate in the discussion forum, as well as other public and private institutions and organizations from Dubai and Sharjah emirates. The discussion forum will be attended by Sharia scholars, law experts and representatives of small and medium enterprises invited by Mawarid Finance and the Saud bin Saqr Programme for Young Business Leaders. Young entrepreneurs are encouraged to participate in this important event where they will be allowed to put forward areas of concerns and challenges and find solutions and approaches needed to overcome such challenges.

"These initiatives taken by Mawarid Finance Group of Companies throughout all emirates come in line with their national Falak Tayyeb Business Campaign. Many government and private organizations in every emirate of the United Arab Emirates participate in the activities of this campaign launched to highlight difficulties and challenges faced by the young entrepreneurs and the ways to overcome them; this will enable them to achieve their goals, to help manage their credit risks and to achieve consistent fixed income,"
said Mohammed Mosabih Al Neaimi, CEO, Mawarid Finance Group of Companies.

Mr. Al Neiami noted the agreements entered into by Mawarid Finance with leading establishments that provide support to pioneering projects, such as the Mohammed bin Rashid Establishment for Young Business Leaders, Saud bin Saqr Programme for Young Business Leaders and Entrepreneurs Forum in Dubai.

"An agreement to be signed with Khalifa Fund to Support and Develop Small & Medium Enterprises is being prepared currently; within its long-term strategic plans, Mawarid Finance intends to organize various discussion forums in all emirates of the United Arab Emirates; the said discussion forums will bring together government and private organizations along with young entrepreneurs to highlight national issues of the economic development," Mr. Al Neaimi explained.

"We are pleased with the great response Mawarid received for our activities by senior officials at government and private sectors, and their keenness to participate in the discussion forums we organize about small and medium enterprises, and to support them out of their deep belief in those enterprises; and let me applaud the Mohammed bin Rashid Establishment for Young Business Leaders, Saud bin Saqr Programme for Young Business Leaders, Entrepreneurs Forum, Business Women Council and Sharjah Establishment for Support of Pioneering Projects as their involvement encourages more small and medium enterprises to participate in all activities organized by Mawarid Finance throughout the county." Mr. Al Neaimi concluded.
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Notes and media contacts

About Mawarid Finance
Mawarid Finance is a Private Joint Stock Company incorporated in Dubai, UAE, in 2006, with a paid-up capital of Dhs1bn. The Company plans to introduce into the region a new vision within the Islamic finance sector to meet the needs of both retail and corporate customers that are still not met.

MF is the only completely-independent finance company in the United Arab Emirates. Its share capital is distributed across more than 350 shareholders, with corporate shareholders and individual shareholders owning no more than 5% and 2.5% respectively, ensuring full operational autonomy.

For further information, kindly contact:
Yosuf Hussein Al Hammoud
Mawarid Finance
Tel: +971 50 4934925
Fax: +971 4 321 9797

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