Browse
related articles
UAE moves to make borrowing easier for SMEs
- United Arab Emirates: Tuesday, May 07 - 2013 at 05:20
The International Finance Corp (IFC), a unit of the World Bank, has said it is helping the UAE in drafting legislation to allow small and medium-sized firms use moveable assets to back loans, in order to improve financing options for the firms, Reuters has reported. Under the law, a registry of movable assets is to be created, which could include machinery and inventory, enabling SMEs to use them as collateral. "You can only mortgage land once and a building once - so for these small businesses, after that, what else can they put up," said the IFC's regional director for the Mena region, Mouayed Makhlouf. Seven other nations in the Middle East and North Africa, including Morocco, Tunisia and Jordan, are also working with the IFC to put the necessary legislative steps in place for movable assets, the IFC said.
Related Content
Article Options
Disclaimer »
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / 4C and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / 4C can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / 4C.
In no event shall AME Info FZ LLC / 4C be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
