The total financial facilities and loans provided by UAE banks to small and medium-sized enterprises (SMEs) reached AED81.2 billion ($22.1 billion) by the end of the first half of 2024, according to the latest data from the Central Bank of the UAE (CBUAE).
Loans to SMEs represented 9.5% of the overall financial facilities extended to the UAE’s commercial and industrial sectors, which totaled AED855.7 billion at the end of June.
SMEs play a crucial role in the UAE’s economy, accounting for over 95% of the country’s businesses and employing approximately 86% of the private sector’s workforce.
