Awqaf and Minors Affairs Foundation, Dubai SME sign MoU to support Emirati entrepreneurs
Date
9/28/2016 8:00:02 AM
(MENAFN- Emirates News Agency (WAM))
DUBAI, 28th September, 2016 (WAM) -- Awqaf and Minors Affairs Foundation (AMAF) has signed a memorandum of understanding (MoU) with Dubai SME to strengthen emirate's position in the entrepreneurship and waqf (religious endowment) sectors in a way that reflects positively on the economy and society at large.
The MoU was signed by Tayeb Al-Rais, Secretary-General of AMAF and Abdul Baset Al Janahi, Chief Executive Officer of Dubai SME at the foundation's headquarters in Dubai, in the presence of senior officials from both organisations.
The memorandum seeks to improve collaborations and synergies between the two entities in supporting SME projects and offer all necessary assistance to Emirati entrepreneurs seeking to launch their own businesses. The partnership will also include providing consultation services to foundation's minors once they reach majority towards encouraging them to launch their own enterprises.
The foundation will offer priority registration and leasing in its stores to members of Dubai SME, including the waqf stores and mosque sites that are under its management.
Al-Rais commented, "Dubai has become a global hot spot for entrepreneurs keen to launch their businesses and to have a successful beginning. Through this agreement, Emirati youth can seamlessly leverage AMAF's waqf stores to launch new projects or expand existing ones."
He added: "The MoU marks an important first step in partnering with Dubai SME. We hope to increase our synergies with this entity and like-minded organisations to support Dubai's strategy of shaping an enabling entrepreneurial environment in the emirate. We also aim to generate waqf revenues to allow AMAF to continue its efforts in enhancing social solidarity, providing care to orphans and minors, and implementing humanitarian projects that improve people's lives across the globe."
Al Janahi said: "At Dubai SME, in addition to regular assistance with setting up start-ups, we provide entrepreneurs with a range of services such as counseling, supervision and technical support for the success of their businesses from inception to the eventual scaling up of the project. As part of our MoU, Dubai SME will assist AMAF's registered members and provide them with the required licenses and opportunities to benefit from the Government Purchasing Programme. It will also facilitate project management training for the minors and caregivers at the foundation.
WAM/AAMIR