- Designed To Provide the Necessary Support for Training Programs for UAE Young Business Leaders
Mohammed Bin Rashid Establishment for Young Business Leaders (MBRE) signed an Agreement of Cooperation and Partnership with the Bahrain Development Bank, under which the bank provides the strategic and operational support to SMEs and strengthens their competitive ability.
The agreement was signed by Mr. Abdul Baset Al Janahi, CEO of the MBRE, and Mr. Nedal Saleh Al Aujan, CEO of Bahrain Development Bank, at the headquarters of MBRE in Dubai today.
The Agreement also aims to provide an appropriate investment environment for the growth and development of SMEs and enable them to play an effective role in promoting the growth of the national economy, and the inculcation and development of the spirit and the concept of leadership, and producing a paradigm shift in the investment thinking of the business sector.
The Agreement provides for the exchange of information and experience in the preparation of studies and research on the development and improvement of the SME sector to serve the purposes of the two parties, and cooperation in the establishment of specialized training courses aimed at creating awareness and the development of creative thinking to the owners of SMEs along with promoting the spirit of investment culture. Furthermore, the Agreement seeks to introduce induction programs that aim to develop the scientific foundations and the correct process for the establishment and management of SMEs, through publishing joint periodic flyers, information sheets and photographic material that contribute to the dissemination of awareness among the UAE young people.
Under the agreement, the two sides will organize a special exhibition for the products of the member entrepreneurs of the two parties in order to find marketing opportunities and promotional outlets, as well as to develop mechanisms that facilitate cooperation and coordination between the member enterprises of the two parties in order to achieve the goal of exchanging experiences and relationships between these complementary projects aimed at achieving the common interests of its parties.
The parties will work to coordinate initiatives with the UAE official bodies to support, develop and nurture SMEs. The two parties agreed to form a working group for coordination between them to activate and implement the provisions of the Agreement, as well as proposing other ideas for the development of cooperation between the two parties and make recommendations and proposals.
Following the signature of the Agreement, Mr. Abdul Baset Al Janahi, CEO of the MBRE, said that the MBRE seeks to build bridges of communication and cooperation with all relevant institutions and bodies in order to provide all support to the UAE entrepreneurs, and to provide them with their needs, like training and care in order to be able to establish their projects. The MBRE seeks also to enable them to manage their business professionally, because of the important and essential role played by SMEs in the global economy in general and the national economy in particular.
He said that the Bahrain Development Bank is one of the leading institutions supporting SMEs and play an important and key role in promoting these projects.
From his part, Mr. Nedal Saleh Al Aujan, CEO of Bahrain Development Bank said that the bank will contribute to the promotion of the well-studied projects and cope with the requirements of the market in the UAE and the region, thanks to his effective role in the program of the UAE national economy aimed at attracting funds, create jobs and develop labor.
He added that since its foundation, the Bahrain Development Bank is keen to expand its innovative financial services to reach a large number of entrepreneurs and expand through the broad sub-economic sectors, which include manufacturing, tourism, health, education, fishing, agriculture, professional disciplines and other activities of value-added services.
Bahrain Development Bank provides distinguished financial services designed to meet the needs that primarily aim to develop SMEs in the sectors of industry and services both to set up a new project and expand the original one, and the modernization of existing business. Bahrain Development Bank launched its work on January 20
th 1992 with a paid-up capital of BD 10 million and an official capital of BD 25 million which then increased to BD 50 million, in 2006. Bahrain Development Bank is a distinct financial institution operating in the area of development, and encourages investments in the Kingdom of Bahrain, with a view to diversifying the economic base in order to create new job opportunities for Bahrainis and to contribute to social and economic development in Bahrain.
