Sharjah to increase the rate of exports and open new markets
Gulf Today|August 09, 2020
SCCI launches Sadder Fund to help finance export operations, expand the export map of SEDC’s affiliates and provide liquidity to exporters

The Sharjah Chamber of Commerce & Industry (SCCI) has recently launched the “Sadder” (export) Fund, the first of kind fund across the Emirate Sharjah for financing export operations.

“Sadder” Fund falls under the Sharjah Exports Development centre (SEDC) of the SCCI and it aims to increase the rate of exports, open new markets, expand the export map of the SEDC’s affiliates, provide liquidity to exporters, and reduce the risk ratio in export operations through credit insurance.

This comes as part of the SCCI’s relentless efforts to provide the support and boost the UAE’s exports by providing export finance services to local companies, expanding the scope of export business, and penetrating new markets.

Speaking on the launch of the new fund, Abdullah Sultan Al Owais, Chairman, SCCI, said: “The initiative is in line with the wise vision of His Highness Sheikh Dr. Sultan Bin Muhammad Al Qasimi, Member of the UAE Supreme Council and Ruler of Sharjah in terms of achieving economic diversification, which is the backbone of Sharjah’s economic policy.

“Our aim is to support the local economy and enhance its competitiveness by providing financing solutions, including providing guarantees for exporters from national institutions and companies. This would increase the rate of national exports and help them penetrate new markets.”

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