Mohammed Bin Rashid Establishment for young business leaders (MBRE) and Standard Chartered Bank UAE sign MoU to increase co-operation and training programs

March 30 2009:
Dubai
The Mohammed Bin Rashid Establishment for young business leaders (MBRE) announce today that it has signed an MOU (memorandum of understanding) agreement with Standard Chartered Bank to increase co-operation between the two organizations and to provide structured training and development initiatives to entrepreneurs in the UAE.  

As per the agreement that was signed by Adul Baset Al Janahi, CEO, MBRE  and Chris de Bruin, Head of Consumer Banking, Standard Chartered Bank UAE, both organizations will run a shared annual calendar of training programs led by qualified guest speakers and experienced business leaders from the Bank for MBRE members and the Bank’s SME clients. Both organisations will work together to deliver a  communication and marketing strategy and offer a range of Standard Chartered Bank products and services to all participants.

Commenting on the agreement, Adul Baset Al Janahi, CEO of MBRE said:
“The signing of the agreement is in line with the Establishment’s strategy to partner with major business groups in the UAE. By further developing the partnership between Standard Chartered UAE and MBRE, the agreement will provide additional support for small and medium size businesses and young entrepreneurs.

Chris de Bruin, Head, Consumer Banking, Standard Chartered Bank UAE added:

“In line with growing demand, we have formed a strategic partnership with MBRE to enhance our expanding SME training, development and product and service facilities.”

“The SME sector in the UAE is one of the main foundations of economic growth in the UAE and accounts for 80% of non-oil GDP. Among our customer base are some of the UAE’s leading Arab talent as well as established entrepreneurs. We provide the training and development necessary to enable these SMEs to prosper.”

Under the agreement, the training provided by the Bank will include currency and interest rate fluctuations, trade finance, credit application and Treasury.

The Mohammed bin Rashid Establishment for Young Business Leaders (MBRE) is a pioneering organization set up to promote entrepreneurship across the country and spearheading the cause of SMEs, offering various services to catalyze higher-paced growth. It offers a wide range of enabling services to its members, including facilitating business agreements with leading government and private sector companies. The Establishment’s services also extend to offering business consultancy, training programs, financing and logistical support.