Sheikh Mohammed establishes Support Fund

Sheikh Mohammed establishes Support Fund

Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, issued law no 24 of 2009 establishing the Dubai Financial Support Fund (Support Fund)...

July 22, 2009 6:43 by Dana El Baltaji

Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, issued law no 24 of 2009 establishing the Dubai Financial Support Fund (Support Fund), reports WAM.

Abdul Rahman Al Saleh, director general of Dubai’s Department of Finance, explained the fund will manage the proceeds of the $20 billion bond program launched in the first quarter of 2009.

“The Fund will provide loans and credit facilities on a commercial basis to government and non-government entities executing strategic and developmental projects in the emirate of Dubai,” Al Saleh said.

The fund will be authorized to keep, collect, manage, invest and reinvest debt bonds and their proceeds.

Tags: $20 billion fund, Dubai economy, Dubai Financial Support Fund, Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, Support Fund

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3 Comments

Amin on July 23, 2009 1:02 pm

Very Timely move…Think Dubai esp. if not UAE needs this kind of carefully managed funds boost to get back on centrestage, Inshallah it will.
Dan on July 23, 2009 2:44 pm

We read in different publications and online in May 2009 that charges for renewing the trade license will decrease by 20 to 30%? Can you please let us when will this be implemented?
thank you
Mujahid siddaqui on August 7, 2009 3:19 pm

Request for business support funds for M-S Tea Company Pakistan for U AE f Dear sir, We want to belong to backward area in Pakistan. My city name is MULTAN. We want to establish sale net work all over Pakistan. We need one million U S D $ to establish this net work. We are manufacture of tea brands of tea. Some our famous famous brand name is Super Gold Beamisal M-S Daneder tea. We want establish it sale net work all over Pakistan. We need one million U S D$ to establish this sale net work.
I hope that after completing this net work, five hundred people get employ to this company.
Government of U A E very intresting developing in Pakistan. So I want that it rule become very effective to establish to sale net work of M-S Tea company.
We belong most back ward area of Pakistan city (MULTAN) this city is central of country. But this city is most back ward of the country. U A E rule to developing in Pakistan is very much. So I want that establish a sale net work of M-S Tea company do great rule will be perform in deveoulping of pakistan with us. This sale net work performs great rule to giving job and providing most taste full fresh tea to people of south Punjab.
Dear Sir,
M-S Tea Company has 17 year Experience of marketing and blending of tea and packing. I hope that two hundred people employ this Company. U A E Will be help us to establish this tea sale net work rule.
With best regard,
Mujahid Abbas siddaqui
M-S Tea Company
8m-2839 behind shaheen market
Multan Pakistan
Ph 92-61-4573985 cell 92-300-
8637770