CofaceEmirates Services, a subsidiary of the French credit insurance group Coface, multiplied its activities during the first part of 2012 and eyes more local SMEs to support their development through debt protection insurance.
Dubai SME, the agency of the Department of Economic Development, has mandated to develop the SME sector, and Shuaa Capital, a provider of corporate finance advisory services in the United Arab Emirates, have signed a memorandum of understanding, (MoU) to offer a new Valuation Advisory Services to a select number of Dubai SME 100 companies.
The Dubai Chamber of Commerce and Industry has signed a Memorandum of Understanding (MoU) with the National Bank of Abu Dhabi (NBAD) for providing financial services to SMEs in the Emirate, as part of an initiative to facilitate the growth of entrepreneurship.
Sharjah-based InvestBank has opened a second subsidiary named Al Imdad, which specialises in trade financing and supply chain logistics for small and medium-sized traders and manufacturers.
Dubai-based Shuaa Capital, the investment bank undergoing major restructuring, is expanding its profitable credit finance business Gulf Finance Corp (GFC) into Saudi Arabia and may offer a stake in the unit to new investors.
Mubadala GE Capital, a specialised commercial finance company that provides structured financing solutions to businesses, including SMEs, has seen the graduation of its first class of UAE National staff members from two-year leadership programmes aimed at developing the skills of high-potential employees.
Mashreq, one of the UAE's financial institutions, has appointed Hameed Noor Mohamed as their new Head of SME Banking.
