Mawarid Finance organizes SMEs forum

This came at the sixth forum organized by Mawarid Finance in association with Khalifa Fund to Support and Develop Small & Medium Enterprises, at Al Ain Rotana Hotel, Al Ain city yesterday, Tuesday, 26th of January, at 6:00 pm. The forum was organized within "Falak Tayyeb Business Campaign", targeting the SMEs owners and the UAE nationals who wish to establish their own investments.

The open forum discussed the concerns and barriers that the SMEs owners encounter, while the officials answered their inquiries. The SMEs owners discussed with officials the problem of the so called "key money", the money paid to an existing tenant who assigns a lease to a new tenant. They also requested the government departments to simplify the procedures. Others requested cancellation of fees imposed by the Ministry of Labour and establish a special counter for them in all the Ministry of Labour offices. Some of the SMEs owners complained about the delay of fees to be paid by the Government departments against the services that they provide for such departments the thing which affects their business. They confirmed their need for permanent committees to solve their urgent problems. The SMEs owners expressed their pleasure for the support rendered by Mawarid Finance and Khalifa Fund to Support and Develop Small & Medium Enterprises. The forum discussed the problems of the participants with special needs who requested to be given job opportunities in the government sector.

A considerable number of more than 600 UAE nationals from females and males who own small and medium enterprises attended the forum with the senior government officials and decision makers, Dr. Nizar Shanior, Khalifa Fund to Support and Develop Small & Medium Enterprises, Mr. Ali Al Nuemi, Al Ain Economic Development Department, Abdul Rahim Rabeh, Al Ain Chamber of Industry & Commerce, Ibrahim Al Marzouqi, Zayed Higher Foundation for Humanitarian Care, Special Needs and Minors Affairs, Osama Al Muharam, Mohamed Bin Rashid Foundation, Basim Al Zubaidi, Saud Bin Rashid Al Mualla to Support the Youth Projects, and Amira Al Hababi, Women Business Council at Al Ain. Dr. Nabil Al Teraifi, Saud Bin Saqr Program for Supporting the Youth Enterprises. However, there was no representative from the Ministry of Labour.

Mr. Mohamed Musabbeh Al Neaimi, CEO of Mawarid Finance Group, said, "The forum aims at discussing the problems of SMEs owners with the related authorities in order to solve such obstacles and help such enterprises grow."

Among the speakers also Saleh Al Hashmi, Deputy Chief Executive Officer and Rehab Lootah, Vice President, Business, Products and Corporate Communications, Dr. Mohamed Al Olama, Sharia'a Expert, Dr. Karim Nasef, Legal Expert and Dr. Najeeb Al Saegh, Economic Expert.

Rehab Lootah, Vice President, Business, Products and Corporate Communications, commended the great role of Media in featuring such events and the role of the participating organizations in supporting the SMEs in UAE. She also referred to the diverse products and services provided by Mawarid Finance to the SMEs.

Mr. Saleh Al Hashmi, the Deputy CEO at Mawarid Finance, said that all the projects are studied and assessed carefully by the financing corporations and he welcomed the investment beginners who wish to extend their business.

Dr. Mohamed Al Olama answered the inquiries related to Sharia'a issues raised by the enterprises owners.