The Mohammed Bin Rashid Establishment for young business leaders (MBRE) has signed an MoU with Standard Chartered Bank to provide structured training and development initiatives to entrepreneurs in the UAE.

As per the agreement, both organisations will run a shared annual calendar of training programs led by qualified guest speakers and experienced business leaders from the Bank for MBRE members and the Bank’s SME clients.

Both organisations will work together to deliver a communication and marketing strategy and offer a range of Standard Chartered Bank products and services to all participants.

'By further developing the partnership between Standard Chartered UAE and MBRE, the agreement will provide additional support for small and medium size businesses and young entrepreneurs,' said Adul Baset Al Janahi, chief of MBRE.

'The SME sector in the UAE is one of the main foundations of economic growth in the UAE and accounts for 80 per cent of non-oil GDP,' added Chris de Bruin, head, Consumer Banking, Standard Chartered Bank UAE.

'Among our customer base are some of the UAE’s leading Arab talent as well as established entrepreneurs. We provide the training and development necessary to enable these SMEs to prosper.'

Under the agreement, the training provided by the Bank will include currency and interest rate fluctuations, trade finance, credit application and Treasury.

MBRE has been set up to promote entrepreneurship across the country and spearheading the cause of SMEs, offering various services to catalyse higher-paced growth.-TradeArabia News Service