Abu Dhabi, UAE: The Central Bank of the UAE (CBUAE) has launched its first survey on micro, small and medium-sized enterprises (MSMEs). The survey covers a large sample of MSMEs across various sectors in the UAE as per the strategic mandates to mobilise further support to this vital sector of the economy.
The survey will provide information for CBUAE’s ongoing research on "Enablers to Mobilise Further support to the MSMEs and Ease Financing Restrictions”. The research focuses on financial constraints, which hinder MSMEs’ ability to develop based on existing market forces. It will also highlight the main constraints that borrowers from the MSMEs consider to be critical barriers to their ability to secure financing. In terms of constraints on the supply side of credit to MSMEs, the study will shed light on concerns of banking institutions and MSMEs development funds that restrict their lending capacity to the sector.
The research will identify the structural obstacles, both on the demand and supply sides of lending to the MSMEs, to guide policies and reforms enabling MSMEs to play a bigger role in future employment growth and economic diversification in the UAE.
On the occasion of launching the MSME’s survey, H.E. Mubarak Rashed Al Mansoori, Governor of CBUAE, took the opportunity to emphasise the importance of data-driven research conducted by CBUAE to improve decision-making strategies, which will inform ongoing strategies of the stakeholders to mobilise further support to the MSMEs. H.E. stressed that the development of MSMEs is the CBUAE’s top priority due to the large potential these enterprises play towards achieving the desired diversity of the economy and fostering a knowledge-based growth in line with the UAE’s Vision 2021 and "post-oil strategy”.
-Ends-
© Press Release 2019Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
