UAE: HSBC’s second US$100 million HSBC UAE SME fund has been fully allocated in only three months, almost twice as fast as its first fund, which was launched last year.
This shows that small and medium-sized enterprises in the UAE are “keen to expand, but are constrained in their access to funds,” according to Rana Al Emam, the head of business banking at HSBC’s UAE branch.
The fund is aimed towards local and international companies looking to finance cross -border business activities, as well as Emirati-owned companies seeking expansion.
The HSBC UAE SME fund can also be accessed through HSBC Amanah, enabling investors to use Shariah compliant financings to grow their business.