HSBC Launches One Billion Dirham International Trade SME Fund
HSBC Recently announces that it has launched its latest International Trade SME Fund, committing 1 billion AED to UAE SMEs. Open to new and existing customers with cross border trading requirements; 30% of the Fund will be allocated to Emirati owned businesses.
Not only was HSBC the first bank in the country to have a dedicated SME team, HSBC was also the first bank in the UAE to launch a dedicated SME Fund back in 2010, which was then followed by a second in 2011. Both were hailed an outstanding success – with the first being successfully allocated within six months, and the second in only three. This latest Fund is the third tranche in HSBC UAE’s flagship SME Fund programme.
Announcing the Fund, Abdulfattah Sharaf, Chief Executive Officer of HSBC Bank Middle East Limited – UAE said: “Today we are excited to announce the launch of the HSBC International Trade SME Fund, allocating 1 billion AED to local SMEs. At HSBC, we remain deeply committed to the UAE and the businesses that support the country’s economy. We continue to work extensively with Free Zones, relevant government authorities and key working groups to ensure that the segment flourishes and grows.”
This year’s Fund strongly focuses on SMEs with international trading requirements. Trade continues to be a strong area of focus for HSBC both regionally and globally. A trade bank by origin, HSBC believes that it can continue to add value to this segment through leveraging this strength, its global footprint and extensive expertise.”
Contact for any assistance regarding the same:
Faisal Ibrahim Mobile: 971 55 2419200
ADAM SME consultant
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Mobile: 971 55 2419200
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