Washington D.C, November 14, 2023 – Maldivian non-banking finance institution SDFC has joined the SME Finance Forum as its global membership network’s latest member. The 240+ members of the Forum are SME financing experts operating in 190 countries who share the common goal of expanding access to finance to small businesses worldwide through knowledge exchange and innovation.
“SME Finance Forum is delighted to welcome SDFC, the first and only financial institution in the Maldives catered to providing financial solutions to MSMEs, into our network. I am confident they will further contribute towards our decade-long efforts in expanding access to financial services for SMEs. We have been building a global network of SME-focused institutions imparting knowledge, scaling innovations, sharing best practices and influencing policy shifts, and we are proud to welcome SDFC today,” said Qamar Saleem, CEO of the SME Finance Forum.
SDFC is a leading financial institution assisting and supporting the development of MSMEs in the Maldives for achieving inclusive, broad-based and robust economic growth. SDFC strongly believes in inclusive economic growth for the well-being of the entire population, and therefore gives priority to applications from women, youth and people with special needs.
“Through our association with the SME Finance Forum, SDFC aims to build its network with industry leaders, acquire new knowledge, foster new partnerships and further promote our brand in MSME finance,” says Mr. Ahmed Zeenad, Managing Director at SDFC.
About SME Finance Forum
The SME Finance Forum was established by the G20 Global Partnership for Financial Inclusion (GPFI) in 2012 as a knowledge center for data, research, and best practice in promoting SME finance. As an implementing partner for the GPFI, the International Finance Corporation (IFC) was tasked with managing the initiative. The Forum operates a global membership network of +240 members that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs.
Discover the SME Finance Forum members:
SME Development Finance Corporation Private Limited (SDFC), is the first and only financial institution in the Maldives specialized in providing credit facilities to Micro, Small, and Medium Enterprises (MSMEs). Since inception in 2019, their key focus has been on providing financial solutions that enable the growth of MSMEs, prioritizing local tourism, agriculture, manufacturing, information technology, and fisheries sectors.