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UAE: As Foreign Banks Retreat, Local Lenders Eye SME Space

UAE: As Foreign Banks Retreat, Local Lenders Eye SME Space

Small- and medium-sized enterprises, in particular in a growth market like the United Arab Emirates, have traditionally had a tougher time securing loans from banks who perceive them as less transparent and therefore as more risky and costly to do business with. Nevertheless, as this category of companies constitutes a large chunk of the U.A.E. economy, interest from both local and international lenders has been on the rise in recent years.