Latest news with #Riyada
Mid East Info
18 hours ago
- Business
- Mid East Info
Oman Arab Bank Leads the Economic Empowerment Landscape in the Sultanate of Oman and is Crowned with the 'Outstanding Commitment to SME Growth and Empowerment' Award
Muscat. 2 June 2025. In a remarkable achievement that set the standard for banking expertise in the Sultanate of Oman, Oman Arab Bank's added to its growing record of success, proudly announcing it being the receipt of the 'Outstanding Commitment to SME Growth and Empowerment' award — a well-deserved recognition of a deeply rooted strategic vision and clear affirmation of the bank's pivotal role in leading the economic empowerment of entrepreneurs across the Sultanate. This award is not merely a celebratory milestone, but the natural result of an integrated journey of tireless effort, carefully structured plans, and a real investment in Oman's economic future. It reflects years of consistent dedication, culminating in the development of the bank's comprehensive Tumouhi ecosystem — the most inclusive banking platform designed to support SMEs on every level: financial, technical, digital, and advisory. Oman Arab Bank has transformed from a financial service provider into an active growth partner in the success stories of thousands of local companies by offering flexible, customizable financial solutions, including term loans, working capital financing, and a full range of trade facilities tailored to different stages of business development; however, the bank's role has never been limited to financing — it has built a fully integrated digital infrastructure aligned with global standards, including smart payment solutions such as Soft POS, payment links, full digital banking platforms, and dedicated corporate branches and regional cash centers. Even more, the bank has redefined SME support through structured training and empowerment programs like Ruwad Al Arabi , Women's Leadership Development , and Financial Literacy , as well as through strategic partnerships with national institutions like the SME Development Authority (Riyada) to organize entrepreneurial competitions and target ed empowerment campaigns across Oman's governorates. Recognizing that many freelance and informal businesses are often overlooked by traditional banking, Oman Arab Bank designed dedicated solutions that accommodate the unique needs of this segment — from street vendors and market traders to taxi drivers and independent service providers — thus driving tangible financial inclusion at the grassroots level. This ground-level presence has helped the bank expand its developmental footprint and reach underserved populations in a practical and meaningful way. Commenting on this achievement, Sulaiman Al Hinai, Chief Wholesale Banking Officer at Oman Arab Bank, stated: 'This award is a confirmation of what we have committed to from day one — to be a creator of opportunity, not just a responder; a builder of business ecosystems, not just a lender. We believe SMEs are not a complementary sector, but the economic center of gravity and the axis of national transformation toward sustainable growth.' He added, 'We don't just offer banking products — we provide a fully integrated environment of support, guidance, expertise, and networks to help every entrepreneur turn ideas into impact.' With this recognition, Oman Arab Bank once again proves that it is more than a bank — it is a vital developmental force helping reshape Oman's economic landscape and placing SMEs at the heart of the national equation. This aligns directly with Oman Vision 2040's priorities of economic diversification, productivity, youth empowerment, and building a knowledge- and innovation-driven economy. The Bank stands firmly present across every step of the SME journey — from funding to advisory, training to partnership, and digital solutions to on-the-ground support — forging ahead with an unwavering commitment to solidify its position as the number one partner for entrepreneurship in Oman, driven by a national vision, relentless ambition, and limitless potential.
Entrepreneur
5 days ago
- Business
- Entrepreneur
H.H. Sheikh Hamdan Attends Launch Ceremony of the 'UAE Future 50 - Emirati List of Future Companies'
You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media. On June 28, 2025, H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, witnessed the launch of the inaugural UAE Future 50 – Emirati List of Future Companies, a joint initiative between the UAE Ministry of Economy and the Government Development and the Future Office, at Dubai's Emirates Towers. The initiative is part of the Riyada entrepreneurship ecosystem, which aims to enhance the national startup and innovation landscape. The UAE Future 50 list identifies and lauds some of the most promising Emirati-led companies across 15 key future economic sectors such as fintech, healthtech, edtech, agritech, space, renewable energy, and cybersecurity, among others. Image courtesy BNC Publishing H.H. Sheikh Hamdan underscored the UAE leadership's commitment to empowering entrepreneurs and fostering an economic environment that supports startups in future-focused sectors. He noted that Emirati innovators are playing a key role in driving economic diversification, advancing future-focused industries, and strengthening the nation's global competitiveness—efforts that align with the ambitions of 'We the UAE 2031' vision. He also highlighted the crucial role entrepreneurs play in turning innovative ideas into impactful ventures that drive the growth and diversification of the UAE's rapidly evolving economy. He also stressed the importance of inspiring the younger generation to explore the world of entrepreneurship, commending initiatives that nurture and empower entrepreneurs to reach new heights of success. The launch was attended by Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs; Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications; H.E. Ohood bint Khalfan Al Roumi, Minister of State for Government Development and the Future. H.E. Ohood Al Roumi, UAE Minister of State for Government Development and the Future. Image courtesy BNC Publishing H.E. Al Roumi highlighted the UAE's position as a global leader in future readiness, thanks to its strong innovation ecosystem and investment in national talent. She emphasised that the 'UAE Future 50' showcases Emirati entrepreneurs transforming ideas into pioneering ventures, supporting the government's goal to prepare the economy for future challenges. She added that these startups, working alongside major companies, will drive growth in key sectors and enhance the UAE's competitiveness and leadership worldwide. Abdullah Al Saleh, Undersecretary of the Ministry of Economy, highlighted the crucial role of innovative ventures and Emirati talent in driving the UAE's transition to futuristic industries and boosting its global standing. He reaffirmed the government's commitment to creating an environment that supports sustainable growth and strengthens the national economy. Faisal Belhoul, Vice Chairman of Dubai Chamber, and Chairman of J&F Holdings. Image courtesy BNC Publishing The initiative aims to highlight promising Emirati startups in future-focused economic sectors by providing targeted support to accelerate their growth, recognising entrepreneurial achievements, and celebrating the contributions of Emirati innovators. It also seeks to foster a strong culture of entrepreneurship and inspire the next generation of national talent. The launch of the 'UAE Future 50' was marked by a dedicated event celebrating these pioneering ventures. The gathering featured an engaging talk by Emirati entrepreneur and Dubai Chambers Board Member Faisal Belhoul, who shared insights on the foundations of entrepreneurial success and the vital role entrepreneurs play in shaping the future economy. The event brought together young entrepreneurs, investors, representatives from investment funds, incubators, accelerators, family businesses, and leading companies. It also included an exhibition of the selected start-ups, giving attendees a closer look at their innovative ideas, achievements, and growth journeys. UAE startups have exhibited strong growth potential and play a key role in driving job creation, economic diversification, and national development objectives. Specifically chosen for their ability to boost the competitiveness of the future economy, these companies reflect the country's innovation-driven vision. The 'UAE Future 50' builds on the success of the Future 100 initiative, launched by the Government Development and the Future Office with the Ministry of Economy. The initiative annually highlights top emerging companies advancing future-focused sectors and supports the UAE's global standing in innovation, entrepreneurship, and investment. By recognising and empowering high-potential ventures, Future 100 contributes to shaping a resilient, diversified, and globally competitive economy. Related: Future 100 Unveils the Prestigious Future 100 - List 2024 of the UAE's Most Promising, Scalable, and Impactful Companies
Arabian Business
5 days ago
- Business
- Arabian Business
UAE Future 50 brings together forward-thinking startups to inspire entrepreneurs
The UAE Future 50 has brought together 50 startup entrepreneurs to showcase business development in a range of industries ranging from Fintech to creative industries and renewable energy to cybersecurity. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, witnessed the launch of the 'UAE Future 50' initiative, featuring a list of future-focused Emirati companies. Jointly developed by the Government Development and the Future Office in collaboration with the Ministry of Economy, the initiative is part of the Riyada entrepreneurship ecosystem, which aims to enhance the national startup and innovation landscape. UAE Future 50 The initiative features 50 promising startups launched by Emirati entrepreneurs across 15 future-focused economic sectors that boost the diversification and resilience of the national economy. These sectors span: Fintech Healthtech Edtech HR tech Food and agri-tech Space Cybersecurity Sustainability Renewable energy Smart mobility Advanced and creative industries Legal tech Sharing economy Sheikh Hamdan underscored the UAE leadership's commitment to empowering entrepreneurs and fostering an economic environment that supports startups in future-focused sectors. He noted that Emirati innovators are playing a key role in driving economic diversification, advancing future-focused industries, and strengthening the nation's global competitiveness—efforts that align with the ambitions of 'We the UAE 2031' vision. He underscored the crucial role entrepreneurs play in turning innovative ideas into impactful ventures that drive the growth and diversification of the UAE's rapidly evolving economy. He also stressed the importance of inspiring the younger generation to explore the world of entrepreneurship, commending initiatives that nurture and empower entrepreneurs to reach new heights of success. The launch was attended by Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs; Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications; Ohood bint Khalfan Al Roumi, Minister of State for Government Development and the Future. Ohood bint Khalfan Al Roumi highlighted the UAE's position as a global leader in future readiness, thanks to its strong innovation ecosystem and investment in national talent. She emphasised that the 'UAE Future 50' showcases Emirati entrepreneurs transforming ideas into pioneering ventures, supporting the government's goal to prepare the economy for future challenges. She added that these startups, working alongside major companies, will drive growth in key sectors and enhance the UAE's competitiveness and leadership worldwide. Abdullah Al Saleh, Undersecretary of the Ministry of Economy, highlighted the crucial role of innovative ventures and Emirati talent in driving the UAE's transition to futuristic industries and boosting its global standing. He reaffirmed the government's commitment to creating an environment that supports sustainable growth and strengthens the national economy. The initiative aims to highlight promising Emirati startups in future-focused economic sectors by providing targeted support to accelerate their growth, recognising entrepreneurial achievements, and celebrating the contributions of Emirati innovators. It also seeks to foster a strong culture of entrepreneurship and inspire the next generation of national talent. The launch of the 'UAE Future 50' was marked by a dedicated event celebrating these pioneering ventures. The gathering featured an engaging talk by Emirati entrepreneur and Dubai Chambers Board Member Faisal Belhoul, who shared insights on the foundations of entrepreneurial success and the vital role entrepreneurs play in shaping the future economy. The event brought together young entrepreneurs, investors, representatives from investment funds, incubators, accelerators, family businesses, and leading companies. It also included an exhibition of the selected start-ups, giving attendees a closer look at their innovative ideas, achievements, and growth journeys. UAE startups have exhibited strong growth potential and play a key role in driving job creation, economic diversification, and national development objectives. The initiative annually highlights top emerging companies advancing future-focused sectors and supports the UAE's global standing in innovation, entrepreneurship, and investment.
Emirates 24/7
5 days ago
- Business
- Emirates 24/7
Hamdan bin Mohammed witnesses launch of the ‘UAE Future 50'
H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, witnessed the launch of the 'UAE Future 50' initiative, featuring a list of future-focused Emirati companies. Jointly developed by the Government Development and the Future Office in collaboration with the Ministry of Economy, the initiative is part of the Riyada entrepreneurship ecosystem, which aims to enhance the national startup and innovation landscape. The initiative features 50 promising startups launched by Emirati entrepreneurs across 15 future-focused economic sectors that boost the diversification and resilience of the national economy. These sectors span fintech, healthtech, edtech, HR tech, food and agri-tech, space, cybersecurity, sustainability, renewable energy, smart mobility, advanced and creative industries, legal tech, and the sharing economy. H.H. Sheikh Hamdan underscored the UAE leadership's commitment to empowering entrepreneurs and fostering an economic environment that supports startups in future-focused sectors. He noted that Emirati innovators are playing a key role in driving economic diversification, advancing future-focused industries, and strengthening the nation's global competitiveness—efforts that align with the ambitions of 'We the UAE 2031' vision. He underscored the crucial role entrepreneurs play in turning innovative ideas into impactful ventures that drive the growth and diversification of the UAE's rapidly evolving economy. He also stressed the importance of inspiring the younger generation to explore the world of entrepreneurship, commending initiatives that nurture and empower entrepreneurs to reach new heights of success. The launch was attended by Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs; Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications; Ohood bint Khalfan Al Roumi, Minister of State for Government Development and the Future. Ohood bint Khalfan Al Roumi highlighted the UAE's position as a global leader in future readiness, thanks to its strong innovation ecosystem and investment in national talent. She emphasised that the 'UAE Future 50' showcases Emirati entrepreneurs transforming ideas into pioneering ventures, supporting the government's goal to prepare the economy for future challenges. She added that these startups, working alongside major companies, will drive growth in key sectors and enhance the UAE's competitiveness and leadership worldwide. Abdullah Al Saleh, Undersecretary of the Ministry of Economy, highlighted the crucial role of innovative ventures and Emirati talent in driving the UAE's transition to futuristic industries and boosting its global standing. He reaffirmed the government's commitment to creating an environment that supports sustainable growth and strengthens the national economy. The initiative aims to highlight promising Emirati startups in future-focused economic sectors by providing targeted support to accelerate their growth, recognising entrepreneurial achievements, and celebrating the contributions of Emirati innovators. It also seeks to foster a strong culture of entrepreneurship and inspire the next generation of national talent. The launch of the 'UAE Future 50' was marked by a dedicated event celebrating these pioneering ventures. The gathering featured an engaging talk by Emirati entrepreneur and Dubai Chambers Board Member Faisal Belhoul, who shared insights on the foundations of entrepreneurial success and the vital role entrepreneurs play in shaping the future economy. The event brought together young entrepreneurs, investors, representatives from investment funds, incubators, accelerators, family businesses, and leading companies. It also included an exhibition of the selected start-ups, giving attendees a closer look at their innovative ideas, achievements, and growth journeys. UAE startups have exhibited strong growth potential and play a key role in driving job creation, economic diversification, and national development objectives. Specifically chosen for their ability to boost the competitiveness of the future economy, these companies reflect the country's innovation-driven vision. The 'UAE Future 50' builds on the success of the Future 100 initiative, launched by the Government Development and the Future Office with the Ministry of Economy. The initiative annually highlights top emerging companies advancing future-focused sectors and supports the UAE's global standing in innovation, entrepreneurship, and investment. By recognising and empowering high-potential ventures, Future 100 contributes to shaping a resilient, diversified, and globally competitive economy. Follow Emirates 24|7 on Google News.
Iraq Business
17-05-2025
- Business
- Iraq Business
Rafidain Bank launches Phase II of Entrepreneurship Initiative
By John Lee. Iraq's state-owned Al-Rafidain Bank has announced the launch of the second phase of its "Riyada" initiative [Iraqi Riyada Network for Access Development and Advancement, IRADA Network], following the success of the first phase, which it says funded over 8,000 productive projects with a total of more than 107 billion IQD [$82 million]. The program, aimed at promoting self-employment and stimulating the local economy, marks a shift from traditional financing to a strategic developmental tool. General Manager Dr. Ali Karim Al-Fatlawi emphasized that the bank now views financing as a national mission to support youth, enhance local markets, and build a productive economy beyond rent-based practices. Funds have been allocated for new projects submitted through Riyada, subject to technical and legal evaluations. Dr. Hussein Falamrz, advisor to the Prime Minister, highlighted that more than 10,000 projects are ready for funding. The bank says he praised its proactive approach and collaboration with Qi Card to simplify procedures. Al-Rafidain called for broader national involvement, particularly from the Central Bank of Iraq (CBI), to establish: Easy financing windows for startups, A national fund to guarantee entrepreneurial loans, Integration of the Riyada initiative into the upcoming financial inclusion strategy. The bank sees entrepreneurship as a pathway to economic revival, driven by empowering young people rather than merely employing them. (Source: Al-Rafidain Bank) Tags: Central Bank of Iraq (CBI), cg, Entrepreneurship, featured, financial inclusion, Iraqi Riyada Network for Access Development and Advancement (IRADA Network), Micro- Small- and Medium-sized Enterprises Development Agency (MSMEDA), micro-small-and medium-enterprises, MSMEs, Qi card, Youth
