waslaah News
Keep abreast of the latest news
Keep abreast of the latest news
Mar 19, 2024
Industry and Commerce Minister Abdulla bin Adel Fakhro chaired the 18th meeting of the Small and Medium Enterprises (SMEs) Development Council that was held virtually.
Fakhro commended the pivotal role of SMEs in the development of the national economy.
The meeting reviewed the Council’s performance indicators for the years (2022–2026), and the developmental initiatives of the Council’s strategic work plan.
The meeting provided an overview of alternative banking solutions for emerging and SMEs that facilitates their access to capital and transition to the primary stock market as part of the Bahrain Investment Market (BIM) initiative.
They also reviewed the Invoice Discounting solutions that was launched within the efforts of Bahrain Development Bank to enhance SMEs services through the digital platform ‘Tijara’.
The meeting discussed Bahrain Exports’ latest statistics, achievements, export solutions, and priorities that includes upgrading operations, expanding marketing and international partnerships, and focusing on customers.
The Commerce and Industry Ministry affirmed its plans to implement a comprehensive regulatory framework for business incubators and accelerators that aimed at improving the business environment, venhancing performance standards, and establishing governance protocols to meet the quality and sustainability goals within the sector.
Source: www.zawya.com
IsDB and Tunisia sign $60mln financing agreement
Of the amount, $50mln will be dedicated to supporting small and medium-sized enterprises
ITFC, Saudi EXIM sign agreement on $25mln financing for Egypt's Banque du Caire
The agreement aims to support export opportunities and enable Saudi small and medium enterprises to expand their business in Egypt
Dubai SME rolls out financial assistance for businesses affected by exceptional weather conditions
Dubai will provide financial assistance through new interest-free loans
Iraq and Turkey sign 26 cooperation deals
The deals cover investment, SMEs and power
Saudi fund to give RO25mn for development of SMEs in Oman
The agreement was facilitated by the Oman-Saudi Joint Committee for the management of a programme to support SMEs
Saudi Aramco Expands Saudi Accelerated Innovation Laboratory in Riyadh
Two new centres in Riyadh, completed in late 2025 and mid-2026, will provide hubs for domestic tech innovation.
Saudi Startups Received $198 Million in March 2024
The United Arab Emirates received the second most funding in the MENA region last March with $39 million raised across 12 deals.
MSMEDA, Kredit seal $2.1mln deal to finance SMEs
Both sides have also inked a contract worth EGP 50 million, which is the first tranche of the abovementioned financing
OIA firms spent $524.7mln on SMEs in 2023
OIA also released the second edition of its mandatory list, expanding it to include over 100 additional local products and services
MSMEDA injects over $1.06bln in less than 10 years
A significant portion of this funding, 47%, was directed to Upper Egypt’s governorates, reflecting their financial needs and developmental priorities