PRESS RELEASES

April 19 , 2004
[Arabic Version]

AL TOMOOH OFFERS SMALL BUSINESS FINANCE TO UAE EDUCATIONAL IT CHALLENGE FINALIST PROJECTS

19th April 2004, Dubai: Al Tomooh, the small business finance Scheme established by Emirates Bank to assist business entrepreneurs, announced today that it will provide support for selected finalist projects of the UAE Educational IT Challenge.

A record number of 487 projects were received from students, teachers and organizations of all the Emirates. The winners are to receive their awards from His Excellency Sheikh Nahayan Mabarak Al Nahayan, Minister of Higher Education and patron of the IT Challenge at a special award ceremony to be held at Jumeirah Beach Conference Center in Dubai on April 25th, 2004.

Al Tomooh is a financial scheme designed to support small businesses by providing funding for projects. This funding is provided to UAE Nationals on an interest free basis for the first 3 years of the operation of the business.

“We are happy to be part of this challenge and provide UAE National Finalists and Winners an opportunity to apply to Al Tomooh for finance under the scheme” said Sulaiman Al-Mazroui, Executive Member of the Al Tomooh Supreme Committee. “Those who wish to avail of the scheme will be provided with full support and guidance to help them meet the minimum requirements of the scheme”.

“Al Tomooh has added significant value to the UAE Challenge by providing an opportunity to the finalists and winners to further implement their projects,” said Dr Sulamain Al Jassim, Director of Community Relations and Manpower Development for the Higher Colleges of Technology.

Fifty finalists were selected by the jury panel, representing 23 different schools, colleges and Universities within the UAE. Successful projects will be announced in May after applications for financial assistance have been processed.

Further information regarding the IT Challenge can be found on the website at www.uaechallenge.com

For further details please contact Mr. Robert Brown, Program Coordinator on tel. 02-6941467 or Ms Kashmira Tamhane, CEO, 20/20 Management on tel. 04-3430968 or Mobile 050-6556794.
Website : www.uaechallenge.com