"Awqaf and Minors Affairs Foundation" has recently signed a partnership agreement with "Mohammed bin Rashid Al-Maktoum Establishment for Small and Medium-Sized Enterprises Development" so as to provide that appropriate environment for the growth and promotion of the Small and Medium-sized enterprises concerned by the UAE nationals, and enable them actively carry out their business and have their proactive role in the enhancement of the national economy, and with the aim to provide strategic and operational support for those enterprises and promote their competitiveness.

The agreement has been signed by Mr. Tayyeb Abdulrahman Al-Rayyes, Secretary General of "Awqaf and Minors Affairs Foundation" and Mr. Abdul-Basset Al-Janahy, Director General of "Mohammed bin Rashid Al-Maktoum Establishment for Small and Medium-Sized Enterprises Development" due to the both parties deep interest and desire in enriching and developing the conception and spirit of leadership in the community, through launching development and promotion programs within the framework of Islamic formulas so as to fulfill the community needs.

In addition, this agreement will surely lead to improve the expenditure of all funds endowed to meet the social and promotional requirements; for the aim of creating a framework of joint cooperation between the two parties of the agreement which quotes the necessity to support and provide training programs for owners of small and medium-sized enterprises, particularly the youth, in order to increase their marketing, productive and administrative experiences, and encourage the woman participation, and promote the entrepreneurship.

Both parties have agreed on setting out joint mechanisms to support the business leaders from amongst the UAE nationals, further to the circulation of awareness amongst them, in addition to the development of their capabilities by way of establishing specialized endowment funds for the same.

However, the two establishments shall work on determining the aspects in which it is required to establish endowment funds, set out the conditions and criteria to be provided in the business leaders and those enterprises presented for qualification in order to obtain various types of support, loans, grants, loan guaranties and other kinds of facilities.