Abu Dhabi, United Arab Emirates: Finance House LLC (FH), a leading bank in the United Arab Emirates, and the Emirates Entrepreneurship Association (EEA) have joined forces through a Memorandum of Understanding (MoU) to drive the growth and development of micro, small and medium enterprises (mSMEs) throughout the UAE.
The signing ceremony took place in Abu Dhabi and was attended by Finance House founder Mohamed Abdulla Jumaa Alqubaisi and EEA Chairman Sanad Al Meqbali representing their respective organisations.
The MoU draws on the combined strengths of Finance House and the EEA, drawing on their tireless efforts in the development of SMEs and their expertise in providing diversified financial services.
Under the agreement, Finance House LLC, a subsidiary of Finance House Group, will provide EEA members with a range of financial facilities, offer competitive deposit rates and host awareness sessions on business financing.
The MoU reflects the financial institution’s unwavering commitment to supporting and nurturing entrepreneurship across the country, while highlighting the significant contribution of MSMEs to the UAE’s economic landscape.
Mohamed Abdulla Jumaa Alqubaisi said: “We are delighted to partner with the EEA as it underpins our commitment to strengthen the UAE’s economic landscape. Finance House reaffirms its commitment to support entrepreneurs and move the mSME industry forward through this MoU . “
Alqubaisi added: “By leveraging our expertise and resources, we aim to create innovative financial solutions that empower businesses and drive significant growth in the UAE. Together with the EEA, we will shape a thriving ecosystem to Foster entrepreneurship and advance national progress.”
In addition, the EEA will introduce Finance House to partners engaged in the development of small and micro enterprises, providing opportunities for small and micro enterprises to explore tailor-made financial solutions.
EEA Chairman Sanad Al Meqbali said: “We are delighted to enter into this transformative partnership with Finance House. This MoU demonstrates our unwavering commitment to empowering entrepreneurs and driving the development of mSMEs in the UAE.
By joining forces with Finance House, we can leverage their expertise and resources to unlock the full potential of the mSME sector and contribute to our nation’s economic prosperity. Together, we will foster an environment that fosters innovation, encourages entrepreneurship and propels the UAE to new heights of success. We have noticed that some traditional financing solutions on the market cannot meet the challenges of entrepreneurs and some commercial properties. Through our partnership with FH, we believe that financing solutions (needs based) will drive MSME growth. It’s the right product to solve many entrepreneurial challenges. “
Finance House eagerly anticipates that this MoU will create opportunities and impact for SMEs across the UAE.
about UAE Entrepreneurship Association
Established in 2014, the EEA is a public benefit organization dedicated to promoting entrepreneurs and micro-SMEs at the federal level. Their services include legislation, government relations, financing, and stakeholder communications and collaboration.
About Financial House
Established in March 2004, Finance House is an Abu Dhabi-based financial company that started operations in July 2004.
The company’s principal activities are commercial and retail financing, financial services and investments. The company is licensed and regulated by the Central Bank of the UAE. The main shareholders of Finance House include many well-known UAE businessmen, high-net-worth individuals and politicians.
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