Guest Posts, Link Building, SEO, Pay-Per-Click campaigns
Advanced Search
Download our Media Kit

 





Home / News / News Search
News Search
   

Dubai Economy And Dar Al Tawreeq Launch Sharia-Compliant Smart Programme To Finance Suppliers
(22 October 2017)
New programme will enable faster payments to suppliers and better pricing on procurement


 

Dubai Economy in partnership with Dar Al Tawreeq, a subsidiary of Tawreeq Holdings, has launched a sharia-compliant smart programme to offer receivables finance to suppliers dealing with government entities in Dubai. Dubai Economy is the first government entity to offer such a sharia-compliant receivable financing option to suppliers.

The programme aims to support private sector companies that deal with government agencies by expediting the processes of supply and payment while also enabling government agencies to benefit from competitive prices for services and procurement. Faster payment will support businesses in growing sustainably and maintaining cash flows.

Businesses working with government entities in Dubai can use the smart software developed by Dar Al Tawreeq to ensure liquidity by obtaining financing on their invoices. The programme, directly linked to the GRP (Government Resource Planning) system used by the Government of Dubai, also provides easy access to on-demand working capital for businesses at no additional financial or administrative burden on the parties involved.

The programme was launched by Khalid Al Kassim, Assistant Director General for Executive Affairs in Dubai Economy; and Haitham Al Refaie, Tawreeq Holdings Group Chief Executive Officer.

 

"Innovative solutions that enhance ease of business and ensure sustainability are critical to retaining Dubai’s attractiveness as a business and investment destination," said Al Kassim. ” Our partnership with Dar Al Tawreeq is an important step towards promoting business and entrepreneurship in Dubai."

Al Kassim added that the programme emphasises the principle of public-private partnership adopted by Dubai in its sustainable development vision and its evolution into an Islamic Economy Capital.

Haitham Al Refaie said, “We are pleased to be working with Dubai Economy to expand the benefits of sustainable financial solutions to businesses across the UAE; our focus is on fostering a cohesive and collaborative business ecosystem through promoting sharia-compliant and efficient financial solutions, utilising technology and financial expertise for swift access to working capital liquidity”.

The programme allows suppliers to obtain on-demand working capital on a non-recourse basis, and also to benefit from swift registration and transactions through the Smart Platform linked to the Dubai Financial Management System. 

Download the Dubai City Guide iPhone mobile app

DubaiCityGuide.com is owned and managed by Cyber Gear


  All fields are mandatory
Your Name
Email
City
Country
Your Comments
 Max 250 characters - Word Count :
Image Verification
Change Image

     
 
email print
2062
 

Sponsored By : PressReleaseNetwork.com           Sponsored Opportunities

       
       
   
       

Daily Guide

 



Hotels hotels Check out Hotels in Dubai
Shopping shopping A complete Mall & Store Guide
Dining dining Eating out at the coolest spots
Sightseeing sightseeing Things to see & do
DCG Recommends dcg recommends Best of the best in Entertainment
News Alerts
News Alerts
Stay ahead with dubai news
dcg mobile
dcg Mobile
With you wherever you go
rss feed
RSS Feeds
Get the latest
dubai blog
Dubai Blog
Your space, your voice
sitemap
Sitemap
DCG at a glance