Mawarid Finance and Gulf Resources ink cooperation agreement to support SMEs

Mohammed Al Neaimi emphasised that Mawarid always care to communicate with all parties that would provide quality service at nominal prices to the citizens owners of Small and Medium Enterprises, which is the best investment for us in supporting and strengthening the role of these projects which are truly the backbone of the economic life, and also emphasized the role of SME institutions in the private sector and its pivotal role in the development process.

Al Neaimi added that the management of Gulf Resources, when they welcomed the signing of this memorandum have put in their mind the interests of the Country and its citizens as a priority, because it is a social responsibility, an investment and direct support toward the future for those projects which in return the outcome would have a major benefit to all.

Al Neaimi noted as well, that "The Memorandum of Cooperation signed with Gulf Resources covers all the services provided by them, at nominal cost and free of charge in some cases, to the benefit of the associate members of all the supported institutions which has a cooperation agreement with Mawarid Finance: such as Khalifa Fund for SME Development, Mohammed Bin Rashid Establishment for SME Development, Saud Bin Saqr Program for Youth Projects in Ras Al Khaimah, Saud Al Mualla Establishment in Umm Al Quwain, Business Women Council in Sharjah and Ajman, Entrepreneurs Forum in Dubai, and Ruwad Establishment Sharjah, to help and guide them in procedures leading for the registration of new or existing projects as trademarks, intellectual property rights, and patent registration."

Najib Khalil Al Sayegh also explained that theses services at nominal cost provided by Gulf Resources will be limited only to the associate members that have signed cooperation agreements with the Mawarid Finance. He reviewed the services provided which include: preparation of feasibility studies, comprehensive training programs for planning, implementing, management, development , evaluation of projects of Small and Medium enterprises, preparation of the annual budget, and an evaluation of SME projects on a regular basis every three months in which a review and evaluation of the performance of these establishments or companies will be made, in addition to providing accounting, financial and administrative systems, audit and assistance in the study and evaluation of local and foreign agencies and franchises.

Gulf Resources will provide them with mechanisms of preparation of marketing plans, media programs, conduct studies of the market and explore investment opportunities in the Country.