SME signed an agreement with the Arab Business Angles Network “ABAN”

Dubai, December 14, 2008: The Mohammed Bin Rashid Establishment for Young Business Leaders has recently signed an agreement with Arab Business Angles Network “ABAN”. The agreement took place in the establishment’s headquarters and was signed by Mr. Abdul Baset Al Janahi, CEO of Mohammed Bin Rashid Establishment for Young Business and Mr. Walid Hanna, CEO of “ABAN”, in the presence of officials from both sides.

The agreement implies further development of the partnership between "ABAN" and the members of the Establishment, through strategic partnerships that aim to develop their businesses and investments as well as provide them with all kinds of support.

Mr. Abdel-Basit Al Janahi, CEO of Mohammed Bin Rashid Establishment for young business leaders said: “The signing of the agreement was in line with the establishment’s strategy to partner with major business groups, to extend support and to young entrepreneurs from the establishment.”

Mr. Al Janahi further commented on the partnership saying: “ABAN will start with promoting members of the establishment and provide them with financial and moral support to enable them to develop the projects agreed on between the parties, in addition to seeking to develop the business and Procurement Programs and provide low interest loans.

Said Walid Hanna, CEO of the Arab Business Angles Network "ABAN" was pleased with the agreement, and pointed out that: “Through the Establishment’s role in supporting youth enterprises and through our experience and our role in the development of these Projects, this agreement will greatly beneficial to both parties.

“ABAN”s CEO also said: “we look forward to the formation of large capacity entrepreneurs with expertise, and we hope to achieve this through the development of their medium enterprises, we want their businesses to flourish and contribute in supporting the economy of the United Arab Emirates.