SME Working Capital & Business Finance
Dubai banking major Almezan has started a new program. To facilitate easy access to SME Working Capital & Business Finance in the region. The Supplier Finance initiative leverages. The credit worthiness of larger purchaser to provide a more cost. effective early payment to their little suppliers thereby reducing. This over all cost of financing the supply chain. Almezan said it complements its existing acceptable finance solutions. which offer a one stop for client end-to-end supply finance requirements. International SME Working Capital & Business Finance play a pivotal role in shaping economies.
According to figures cited by the World Bank, in the Arab world alone. SMEs make up every side 97 percent of businesses employing half of the workforce regarding 150 million people. and accounting for about 40 per cent of gross household product.
it is therefore critical that SME business or sparingly cater for by the financial Trade and Working Capital sector. We have ready and uninterrupted access to sufficient capital. If they are to thrive and make a positive impact on their ecosystem.
A pre-pandemic report from the global Monetary Fund noted. That increasing SME access to finance in the MENA area to one comparable with the average level of emerging. And developing economies would raise yearly growth by 1 percent potentially creating up to eight million jobs in the Arab world by 2025.
Victor Pena co-head of global transaction banking at said. Increasing the financial and habitat sustainability of supply chains is becoming more and more major to corporate players in the Middle East.
“We are pleased to be delivering programs that assistance these goals. Whilst assist close financing gaps for SME Working Capital & Business Finance.”
its supplier finance programs are intend to benefit suppliers in several ways. other than make sure a steady source of cost-effectual working. it is improves the collection process and reduce overhead cost.
In turn the costumers can improve their working capital cycle. increase the efficiency of payment management and most main strengthen the supply chain network, driving business growth.