United Bank is participating in Developing and Supporting SMEs Conference, organized by Ain Shams University at its Guest House on March 11th and 12th, where the Bank launches his “Entilaqa” service offering Islamic Sharia-compliant finance for SMEs.
The conference discusses the basic points to make SMEs succeed, including the start of SMEs, success factors, management (marketing for and financing SMEs, administrative and organizational structure), accounting (internal supervisory, taxation problems, financial feasibility study), problems facing SMEs and the role of industry and trade in supporting SMEs.
Dr. Tarek Abdelal Hammad, Dean of College of Commerce, and a number of professors will participate in the Conference, besides a large number of concerned bodies including financial and banking institutions, Social Fund for Development, non-governmental organizations, syndications, commercial and industrial chambers and a number of youth.
There are many agendas for “Entilaqa” service to finance SMEs, which will serve a wide segment of customers in different fields.
Entilaqa financing programs: includes “The supplier”: people who supply SMEs with its needs and requirements, “The distributor”: distributors and wholesale traders working in SMEs, “The project”: franchise projects (financing: mortgage, equipments, goods, franchise license), where Social Fund for development will contribute in the finance, “Environment”: financing energy conservation requirement, “Vehicle”: providing SMEs with pickups and buses.
Mohamed Ashmawy, chairman of United Bank, said that there are another financing programs currently studied and developed to be offered afterwards, such as financing poultry and livestock projects as well as small hospitals and clinics.