SMEs get 50% exemption in bank guarantee - Emirates24|7

SMEs get 50% exemption in bank guarantee

Members of the Mohammed bin Rashid Al Maktoum Establishment for Young Business Leaders running tourism-related businesses will be offered up to 50 per cent exemption in bank guarantees by the Dubai Department of Tourism and Commerce Marketing.

The move is a result of the directives of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, who has extended strong support to small and medium enterprises in the UAE.

The exemption will help in reducing operational overheads and increase profit margins. The DTCM will also offer other support services, including market data and industry consultancy.