Under the patronage and in the presence of His Highness
Sheikh Majid bin Mohammed bin Rashid Al Maktoum

Al Tomooh Scheme honors the projects that it has financed

HE. Ahmed Humaid Al Tayer: The program will continue to finance projects for Nationals despite the challenges of the international crisis

Under the patronage of His Highness Sheikh Majid bin Mohammed bin Rashid Al Maktoum, Chairman of Dubai Culture and Arts Authority, Al Tomooh Scheme for Financing Small National Projects held its fifth Award Ceremony for the excellent projects that the scheme has financed since it was established in 1998, on Tuesday 31st March 2009 at Emirates NBD headquarters.

H.E Ahmed Humaid Al Tayer Chairman of Al Tomooh Supreme Committee welcomed the attendees and thanked H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, for his dedicated support towards the program. Al Tayer also acknowledged the various governmental institutions and businessmen who have steadily supported the program and contributed to making it the success it is today. He also noted that this clearly reflects how important the private sector's role is in supporting small and medium enterprises.

He commented: "Each of the financed projects represents a unique model that gives the bank an opportunity to further support the National entrepreneurs who have decided to fully rely on their personal capabilities and pursue their ambitions to reach better and broader horizons within their businesses".

H. E also stressed that despite the challenges that the current international financial situation is imposing on the local and international economies, Al Tomooh program is going ahead with its plans and will continue providing the proper support for emerging projects. Also, it will further expand its reach to cover a wider range of industries in all of the emirates.

H. E congratulated the winners and wished the other participants better luck in the future.

Approximately 100 projects from the commercial, industrial, vocational and service sectors competed for awards in the following categories:

• Best vocational award
• Best medical award
• Best services award
• Best award in telecommunications and information technology
• Best award in engineering consultancy
• Best promising project award
• Best distinguished project award
• Best award in government support

Mr. Sulaiman Al Mazroui, Executive Member of Al Tomooh Supreme Committee, noted that this 5th awards ceremony is an excellent way to demonstrate the unyielding support of those who have backed Al Tomooh Scheme and their continuous commitment in providing all of the necessities in order to ensure the success of these projects. This initiative is of great importance to the nation and to its economic growth and advancement.

Mr. Al Mazroui noted: "Al Tomooh has always been at the forefront. After its launch, and following a series of promotional campaigns related to it, a lot of similar programs had emerged in the UAE and the GCC. We are very proud to have given financial and moral support to 64 different institutions; 13 factories, 7 law firms, 7 clinics and medical laboratories, 7 engineering consultancy firms, in addition to 2 information technology companies, out of which 49 institutions have repaid the total loan amounts and are currently successfully running their operations in the local and regional markets.

The Ceremony was attended by dignitaries, government officials, businessmen, and representatives from government departments who supported the scheme as well as the national entrepreneurs whose projects were financed by Al Tomooh.

Posted on: 31.03.2009