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Dubai Chamber seminar focuses on raising capital for growing businesses

United Arab Emirates: Tuesday, November 30 - 2010 @ 14:36

Held in association with HSBC and Abraaj Capital, the seminar was attended by Dubai Chamber members and was conducted by Chaker Zeraiki, UAE Business Banking Head of Sales – Senior Manager and Mukund Pradha, Manager Structured Trade Solutions, both from HSBC Bank Middle East Ltd; as well as Saqib Rashid Vice President of Riyada Enterprise Development, Abraaj Capital.

Both company officials gave an introduction to their services and shared tips and recommendations on how to submit a successful application for their services. The presenters also provided case studies and steps required from businesses to qualify for funding opportunities with their organizations.

Dr Belaid Rettab, Senior Executive Director, Economic Research and Sustainable Business Development Sector, Dubai Chamber, informed that the seminar came in line with the Chamber’s strategic objectives of creating a favourable business environment and supporting the development of business. He said that the seminar helped to guide Dubai’s business community with the relevant steps required for raising capital which is the lifeline of any business activity.

Said Rana Al Emam, Head of Business Banking UAE HSBC: “If you look around the UAE market you will see some of the small trading companies have grown up into most well established corporate houses. We believe that encouraging entrepreneurial spirit is a critical element in building the corporate sector of tomorrow, and this was one of the main drivers behind the establishment of the HSBC SME Fund, set up in conjunction with the UAE Ministry of Economy.”

She added, “The successful rise of the fund reflects the growing business confidence that we are seeing across the UAE economy, as we continue to work closely with our customers to help them develop their business to the next stage; whether that is hiring more staff, opening new premises, or looking at overseas expansion. Forums such as these play a central role in building a cohesive business community, which will support sustainable development as the UAE continues to develop as a global business hub.”

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Tuesday, November 30- 2010 @ 14:36 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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