Mawarid Finance, Talal Abu Ghazala sign cooperation agreement

Following the signing of the agreement, Mawarid Finance Group's Chief Executive Officer, Mohammed Mosabeh Al Neaimi, stated that this agreement will draw benefits for national young entrepreneurs through finding more investment opportunities by making available proposals for bundle of small investment enterprises.

Other benefits for this agreement will be to have the performance of corporate organizations evaluated which in turn will bolster up our national economy and foster a competitive environment, a decisive factor in upholding the UAE position as a safe haven for foreign direct investment.

Privileges granted under this agreement, Al Neaimi said, will be limited to the members of establishments with which Mawarid Finance has made cooperation agreements including Mohammed bin Rashid Establishment for Young Business Leaders, Khalifa Fund to Support and Develop Small & Medium Enterprises, Saud bin Saqr Programme for Young Business Leaders, Entrepreneurs Forum and Ajman Business Women Council.

Al Neaimi said:

"Services under this agreement will include periodical evaluation and auditing of the new companies' performance every six months, providing IT consultancy and technical knowledge and know how as well as assessing foreign and local agencies, in addition to implementing systems related to companies, their incorporation procedures as well as financial, administrative and accounting systems for the members."

"This agreement comes in line with Mawarid Finance's Falak Tayyeb Business flagship initiative created to contribute towards the creation and development of small and medium enterprises within the outlines set up by the emiratization policy with its escalating trends nowadays in both public and private sectors," Al Neaimi added.

"In this regard, we have made great achievements by organizing the three discussion forums in Dubai with Mohammed bin Rashid Establishment for Young Business Leaders, in Ras Al Khaimah with Saud bin Saqr Programme for Young Business Leaders and in Abu Dhabi with Khalifa Fund to Support and Develop Small & Medium Enterprises. These include positive response from the entrepreneurs in view of the number of participants and keenness by officials representing ministries and departments to attend these forums in order to respond to the challenges faced by these enterprises," Al Neaimi concluded.

Talaat Al Zebn, Executive Manager of Talal Abu Ghazala Group, said, "Under this agreement, those entrepreneurs will have access to many services provided by the Group such as feasibility studies, corporate financial positions, auditing and consultancy services required in many fields such as IT transfer, marketing planning and media programs due to the important rule played by these enterprises in the national economy development."

He indicated the cooperation between the group and all organizations concerned with SMEs for the common good of the UAE society in compliance with the emiratization policy applied by the UAE government in all sectors.