Al Mazroui: "Al Tomooh participation comes in line with the Scheme's commitment to supporting Small National Enterprises"

Dubai, 29 May 2010: In line with its commitment to supporting small national enterprises and the National economy, Al Tomooh Finance Scheme for Small National Businesses has participated in the Annual Entrepreneurship Forum in Eastern & Middle Areas of Sharjah titled: "Small Enterprises: Reality & Challenges" organized by Sharjah Chamber of Commerce & Industry.

Mr. Sulaiman Hamed Al Mazroui, Executive Member of the Supreme Committee of Al Tomooh Finance Scheme said: "our participation is a part of the scheme's commitment to providing all forms of support to National businesses, especially financial facilities and to encourage UAE Nationals to launch and develop their private projects which contribute to enhancing the communication between governmental institutions and national entrepreneurs who are business pioneers.

Mr. Al Mazroui referred to the importance of National small and medium enterprises in accelerating the progress of the National economy, developing expertise and skills and diversifying economic resources and their role in less grown and developed areas.

He exhibited the challenges that are facing small and medium enterprises and stated that the role of the Scheme is not limited to just funding such enterprises, but also rendering administrative advice to ensure the success of their business. "We understand the significance of educated youth and gifted UAE nationals who play a vital role in achieving continuous economic growth"

During the forum, Mr. Sulaiman Al Mazroui honoured "X Architecture" project represented by Engineer Ahmed Hassan Al Ali, which is one of the projects financed by Al Tomooh Scheme and which achieved remarkable success in a short time and received many local and regional rewards.

Mr. Al Mazroui also announced the approval to the first project in Khorfakan to be financed under Islamic terms through Emirates Islamic Bank.

Al Tomooh Finance Scheme for Small National Businesses is considered the first pioneer scheme in the United Arab Emirates, which was established by a resolution of the board of Emirates Bank at the time. It was launched in 1998 and has so far offered around AED 40 million in financing to almost 114 National projects in several sectors and in various Emirates of the UAE.

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For more information, please contact Amal Mustafa on phone no.: 04-6094134

© Press Release 2010