Ajman Bank unites ACCI to support SMEs, Innovative projects in the Emirate

By Shilpa Annie Joseph, Official Reporter
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The Ajman Chamber of Commerce and Industry (ACCI) has signed a memorandum of cooperation (MoC) with the UAE-based award-winning Islamic financial services institution, Ajman Bank, to improve cooperation between the two parties to serve the business community in the Emirates.

The MoC intends to promote SMEs and innovative projects and, to support the start-ups of citizens to develop their business. Further, it will offer the necessary capabilities to assist start-ups, in addition to encouraging Emirati youth to engage in self-employment through providing meaningful opportunities that ensure their success.

Under the Moc, the Ajman Chamber aims to launch the “Ajman Chamber Business Support Program” to provide sufficient funding for citizen entrepreneurs after researching each project separately by a specialist team from the Chamber and Ajman Bank. The initiative will also include training and technical advice to ensure business development with a provision of a comprehensive feasibility study for each project.

Abdullah Al Muwaiji
Abdullah Al Muwaiji
Chairman – ACCI

“This MoC strengthens the cooperation in providing financing solutions that encourage innovative project owners to start implementing their projects, which reflects the effective cooperation between the Ajman Chamber and the banking sector institutions in support of investment in the emirate. The launch of the Ajman Chamber’s Business Support Programme comes under the guidance of His Highness Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, and the follow-up of Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Executive Council, on the need to diversify the economic components of the emirate in a way that promotes the growth of projects owned by Emirati businessmen.”

Meanwhile, Mohammed Amiri noted that Ajman Bank is committed to fostering entrepreneurship and providing creative financing solutions to the business community in the Emirates in general and the business community in the Emirates in particular.

The bank’s team will work to provide guidance and suggestions for young entrepreneurs wishing to grow and maintain their business, in addition to those who are looking for effective business in partnership with the Ajman Chamber’s work team, concluded Mr. Amiri.