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.
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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