Ahmed Al Tayer inaugurates two projects financed by Al Tomooh Finance Scheme

The projects have increased their presence in the market through ambitious expansion plans

Dubai, 11th June, 2008

H.E. Ahmed Humaid Al Tayer, Chairman of Emirates NBD and Chairman of the Supreme Committee of the Al Tomooh Finance Scheme for Small National Businesses, inaugurated today, two new projects, X Architects and Baby Bling. The two projects were financed with AED 1 million by Al Tomooh Finance Scheme, which has so far spent a total of AED 37 million, to support various small UAE National projects in the country. Also present at the ceremony were Mr. Sulaiman Hamed Al Mazroui, Executive Member of the Supreme Committee of Al Tomooh Finance Scheme and senior officials.

Commenting on the occasion, H.E. Al Tayer said, "Al Tomooh Finance Scheme is now present in 5 of the UAE's Emirates and we have plans to spread further to cover all the Emirates in the country. We recognize the importance of a diversified economy and this can only be achieved through increasing UAE National owned projects. We call upon ambitious UAE Nationals to venture into the business environment by establishing their own enterprises and playing their role in the economic prosperity of the country."

H.E. also added, "We are exerting efforts to encourage UAE Nationals from the various Emirates in the country to establish more tourism, Information Technology and professional projects to increase economic diversity in the Emirates where the program is active."

Al Tayer also explained that Al Tomooh was successful in highlighting the values of entrepreneurship and the importance of Emiratization of some sectors in the economy where the gap had been wide. Young UAE Nationals are increasingly aware of their important roles as self-employed entrepreneurs.

Mr. Suleiman Al Mazroui has expressed his delight in financing these projects and said commenting on the occasion: "Al Tomooh is an Emirates NBD initiative which was launched as part of its Corporate Social Responsibility programme. Since its launch, we have committed ourselves to support the UAE economy by financing National Small and Medium Enterprises. Today, we are proud to say that we have spread our coverage throughout the various Emirates in the country."

After the ceremony, attendees congratulated Mr. Ahmed Hasan Ebrahim Al Ali for the new X – Architects office and Ms. Camelia Zainal Baqer Mohebi for the new Baby Bling Shop. X Architects services range from architecture to general consultancy. Their specific range of services includes Architecture, Landscape and lighting, planning and urban design, Civil and service engineering.

Ms. Camelia's Baby Bling is a unique concept that is new to the UAE market, providing everything that a mother could desire from new born baby gifts to event planning services. She intends to establish a chain of stores spread across the country and the region. Baby Bling can be referred to as a niche provider and reference in luxury baby related gifts and services.

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Submitted by : Corporate Communications
Submitted on : 11/06/2008