The Central Bank of the UAE (CBUAE) has released its most recent data indicating that banks operating in the UAE have provided Small and Medium-sized Enterprises (SMEs) with financial facilities and loans amounting to AED 83.3B by the end of 2022.
This figure represents 10.4% of the total accumulated balance of financial facilities for the trade and industrial sector, which amounted to AED 799.1B by the end of December 2022, according to WAM.
The SMEs sector, which makes up over 95% of the total number of companies operating in the UAE, provides employment for more than 85% of the private sector’s workforce, according to the Ministry of Economy.
