Tawreeq provides Shariah platform for SME financing

By Steven Gilmore
27 Jan 2015

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 reluctant to lend to small businesses, and the time and cost ...

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