MOU between the UAE embassy and BankMed to support medium and small enterprises for women and youth

The UAE Embassy, BankMed and Imkan financial institution signed a MOU to support small and medium enterprises for youth and women and Lebanon.  According to this MoU, Imkan will be providing loans ranging between LBP 500000 and 15 million over a three years period. BankMed’s CEO, President and general director of Imkan, Mohammed Ali Beyhum, emphasized the concern of the Bank and the Institution to support economically active individuals of limited income as this MoU will provide them with the opportunity to receive small loans services which are otherwise not available in the banking sector. The UAE Embassy attaché, Hamad Mohammad al Junaibi, noted that launching this initiative is part of the development plan of the Al Khalifa Humanitarian Organisations which seeks to help communities develop through small and medium projects for youth and women especially amidst the rampant unemployment and limited job opportunities.  
Source: Al-Nahar, Al-Diyar 27 June 2014