Tawreeq launches ‘world first’ with trade receivables platform for SMEs

Tawreeq Holdings has launched a Shariah-compliant supply chain finance platform, which it believes to be the world’s first. The platform is aimed at small and medium enterprises in the Middle East and north Africa.

  • By Tom Porter
  • 29 Jan 2015

The firm believes it has identified a gap in the market, where regional SMEs “face bureaucracy and countless financing challenges” in managing their cash flow, said Haitham Al Refaie, co-founder and group chief executive at Tawreeq. 

Banks are sometimes reluctant to lend to small businesses, and the time ...

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