Emirates Islamic Bank concludes participation in Sharjah Tatweer Forum as Platinum sponsor

The Sharjah Tatweer Forum showcased successful projects in the small and medium enterprises (SME) sector in the UAE and other GCC countries.

It attracted local and international brands capable of fostering and promoting visionary business leaders, and stimulating the sustainable development of the SME sector and the UAE as a whole.

SMEs have become a vital cog to the growth of the UAE economy with the sector's contribution to national GDP rising to 60% in 2011. At the same time, the sector faces challenges in access to finance requirements.

Emirates Islamic Bank, with its strong focus on the SME sector, utilised the opportunity provided by the Forum to support new SME businesses in the region through access to Shari'a compliant products and experienced relationship managers.

"Support for the SME sector is core to Emirates Islamic Bank's strategy. We work closely with small and medium enterprises across the UAE, to enable them to grow in a structured and sustainable manner," said Ahmed Bin Tarraf - Head of Business Banking, Emirates Islamic Bank.

"Our participation in the Sharjah Tatweer Forum has enabled us to further support the development of this vital element of the UAE economy. SMEs represent almost 90% of business activity in the UAE and are in constant need of critical financing support as they grow and develop their new businesses," he said.

"Islamic financing integrates ethical and moral values and is therefore more attractive to entrepreneurs in the region's SME sector," said Mohammed Al Shaer, District Manager, Branches Sharjah and Northern Emirates at Emirates Islamic Bank.

"Emirates Islamic Bank has been keen to welcome SMEs to the Forum and encouraged them to come forward for any assistance related to Islamic financing solutions," he added.

As a major Islamic finance provider in the region, Emirates Islamic Bank already supports local entrepreneurship through financing solutions aimed at helping businesses manage cash flow, asset acquisition and expansion requirements.