" growth" A subsidiary of Abu Dhabi Global Market enhances access to financing sources

ABU DHABI, 17 JANUARY / WAM / The “Nomu” platform, affiliated with Abu Dhabi Global ADGM, the international financial center in Abu Dhabi, announced the expansion of its network of partners in the field of financing and strengthening its position in the digital finance market, through strategic cooperation with leading institutions, including the “Khalifa Fund.” For Project Development” and a number of private financing companies, namely “Credible
This platform allows applications for financing to be submitted digitally, and enables companies to access a variety of financial products as well as direct contact with financing sources that suit their needs.
Small and medium enterprises represent 94% of the total number of companies in the UAE, and contribute about 40% of the country’s gross domestic product.
Despite their important role, many SMEs face challenges in securing financing that meets their needs in a timely manner.
According to the latest statistics issued by the Central Bank of the United Arab Emirates, the total cumulative balance of facilities and loans provided by banks in the UAE to small and medium enterprises amounted to only 9.5% of the total cumulative balance of financial facilities provided to the commercial and industrial sectors.
The launch of the “Nomu” platform came to address these challenges faced by small and medium-sized companies, by facilitating the lending process, enhancing the transparency of the financing process and encouraging competitiveness among financing institutions to provide the best offers for this category of companies.
For small and medium-sized companies, the platform is characterized by simplifying the process of applying for loans, enhancing transparency, and saving time and cost by enhancing competition between financing institutions. It contributes to reducing the time period for completing transactions, and enables companies to choose the best financing offers that are most appropriate to their needs, whether in terms of size or conditions.
As for financing institutions, the platform is characterized by evaluating funding requests in an effective and organized manner, which facilitates the process of evaluating and verifying the validity of repeated data, contributes to accelerating the scheduling of approval of applications, and also provides opportunities for establishing partnerships. It cooperates with financial institutions to explore innovative financing solutions specifically designed for small and medium-sized companies, thus enhancing the shared commitment to achieving economic growth and business development.
The platform also features strategic partnerships with financial institutions, including digital and traditional banks, which enhance financing options and innovative products designated for small and medium-sized companies, as part of its commitment to providing integrated financing solutions for this category of companies in the UAE.
Abu Dhabi Global ADGM continues its leadership in promoting innovation and economic development, and confirms, through its various initiatives such as the “Nomu” platform, its commitment to addressing the challenges faced by small and medium-sized companies, and ensuring their access to the capital necessary to achieve their growth and prosperity.
Arvind Ramamurthy, Head of Market Affairs at Abu Dhabi Global, said that the Nomu platform embodies Abu Dhabi Global’s commitment to empowering small and medium-sized companies as they are the cornerstone of the emirate’s economy, and by taking advantage of these innovations and partnerships, it facilitates the opportunity for these companies to obtain the necessary financing, which enhances their sustainable growth and consolidates their position. The UAE is a global center for business and investment.
Khalifa Al Zaabi, General Manager of the “Nomu” platform, said that it goes beyond traditional lending operations to provide an innovative financing platform that supports the growth of small and medium-sized companies by providing an integrated set of financing options, and contributes to empowering these companies and meeting their needs for capital that enables them to achieve faster growth. And more efficient.
He added that the “Nomu” platform is a testimony to Abu Dhabi’s commitment to supporting the small and medium enterprises sector, which plays a pivotal role in developing and diversifying the economy, and comes as a continuation of many initiatives adopted by Abu Dhabi to enhance the access of small and medium enterprises to sources of financing, and increase their benefit from available growth opportunities, and programs. Capacity building and enhancing ease of doing business.
“Nomu” plans to provide more financial solutions to small and medium-sized companies in the coming months by providing financing solutions tailored to supply chains (factoring), and then extending to include equity financing in the future, which will enhance the ability of small and medium-sized companies and enable them to obtain capital, including Ensures its ability to meet new challenges and seize emerging opportunities.

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