Gulf Capital SME Awards 2020 to celebrate resilient SMEs in the region

Gulf Capital SME Awards 2020 to celebrate resilient SMEs in the region
April 01, 2020

Gulf Capital in partnership with MEED will be hosting the 9th edition of Gulf Capital SME Awards as their long-running initiative to support, identify and celebrate small and medium businesses that are spearheading commercial growth in the region.

Gulf Capital SME Awards 2020 to celebrate resilient SMEs in the region

Despite a challenging economic climate exacerbated by the global COVID-19 pandemic, regional governments have re-affirmed their support to help SMEs mitigate the expected financial impact. The implementation of such initiatives and funds highlight the significant opportunities that these businesses present, reflecting the value they add to the economic potential of the region.

The development of non-oil sectors is a key objective of numerous GCC countries, in line with their strategic vision to diversify their economies away from oil revenue. With SMEs placing their efforts in various sectors such as technology, healthcare and education, these enterprises are instrumental in supporting their countries to achieve their economic goals.

In the UAE for instance, SMEs represent over 94 per cent of all companies operating in the country, contributing 52 per cent of the country’s non-oil GDP. The Central Bank of UAE also announced an AED100 billion economic stimulus package to support businesses, particularly SMEs that are likely to be amongst the hardest hit due to the current economy.

Similarly, Saudi Arabia has also recognised the importance of SMEs in helping the country realise its Vision 2030, a key pillar of which involves the increase of SME contribution towards GDP, from 20 to 35 per cent. The Kingdom also announced a SR50bn package to enhance financial stability to enable growth in this sector.

In addition, Bahrain’s Small and Medium Enterprises Development Society (BSMES) and Kuwait’s National Fund for SME Development (the “SME Fund”) aim to support entrepreneurs as they drive economic progress in their respective countries. Oman’s SME Development Fund (SMEF), as well as the Special Economic Zone Authority in Duqm (SEZAD), continue to develop entrepreneurship and support the SME ecosystem.

“SMEs have played a major role in transforming the economies of the UAE, Saudi Arabia, Bahrain, Kuwait and Oman, and their importance continues to be seen through their rapid growth and substantial contribution to the regional economies. From biotechnology to F&B, e-commerce, as well as healthcare, healthtech, business services, fintech, water and energy it is clear that SMEs are leading the way in terms of innovation and growth, and we are delighted to recognise their efforts in the region,” said Dr Karim El Solh, Chief Executive Officer of Gulf Capital.

“SMEs continue to innovate, grow and create new jobs in the private sector while showcasing resilience and nimbleness during these challenging times. As we enter a new decade, this year’s Gulf Capital SME Awards marks its 9th edition and we are proud to celebrate the achievements of SMEs across the region and hope to inspire a new generation of entrepreneurs,” he added. 

Commenting on the accolades, MEED editorial director Richard Thompson said, “SMEs and entrepreneurs are essential factors to propel the regional economy forward. Now more than ever, their innovations, creative concepts and services are critical to the future success of the GCC. We are delighted to partner with Gulf Capital to host the SME Awards, and we strongly encourage these organisations which are contributing to the ongoing development of the region's economy to apply in recognition of their incredible efforts.”

In celebration of the very best achievements shaping the region’s modern economy, SMEs from across the GCC will be able to enter the award for the first time. Applications can be submitted across 16 unique categories including Sustainable Business of the Year, Business Innovation of the Year, Disruption Business of the Year and Gulf Capital Business of the Year. Entries are now open for organisations to submit their nominations by 12th April, 2020. Since its inception in 2012, Gulf Capital SME Awards has seen over 1,500 registrations from the UAE, representing over 1,000 participating companies.

Gulf Capital SME Awards 2020 is supported by Audit partner: Grant Thornton; Association partners: in5 (in5 Tech, in5 Media and in5 Design Innovation Center), She Is Arab, startAD, TiE Dubai; Endorsing partners: Dubai SME, Khalifa Fund For Enterprise Development; Knowledge and Research partner: Diligencia Consulting Limited and  Strategic partner: Beehive P2P Limited.

To submit your entry, please visit the webpage: https://smeawards.meed.com/

Download press release in Arabic


Fraud Alert

Fraud Alert - Important alert to Gulf Capital Investors,Shareholders, the Financial Services Community and the Public

Fraudsters are engaging in a fraudulent email and website scams whereby websites and communications are targeting members of the public and potential investors (victims) by fraudulently using the identity of legitimate members of Gulf Capital's Executive team or Gulf Capital's Board of Directors to solicit investments, fake job offers and other dealings, without authority, and for a malicious purpose. Neither Gulf Capital's Chief Executive Officer nor any members of its Board of Directors or other members of its Executive team have made any offers for investment partnership, offers of employment or other dealings through these channels and the names, and identities of such individuals are being used illegally and without their consent.

Gulf Capital and its management have taken and will continue to take legal action against anyone found misusing Gulf Capital's name or the names or identities of any members of the Board of Directors of Gulf Capital or Gulf Capital's Executive team illegally or without consent for whatever reason.

Report Scams

We invite you to immediately contact fraud-detection@gulfcapital.com* if any of the following occur:

  1. You have received any unsolicited correspondence or investment advice or you think you have been contacted in relation to a possible scam (whether by telephone, email or courier) by sources fraudulently impersonating Gulf Capital's Board of Directors or any members of Gulf Capital's Executive team.
  2. You have received notice from anyone outside of Gulf Capital informing you or raising concern regarding the fact that they may have been contacted by any sources fraudulently impersonating Gulf Capital's Board of Directors or any members of Gulf Capital's Executive team.
  3. You have received any communications referencing any of Gulf Capital's Board of Directors that you consider are suspicious or which you are not sure how to respond to.
  4. You have any concerns about the authenticity of any website passing itself off as a website operated by Gulf Capital or referencing the names and identities of the Board of Directors of Gulf Capital or any of its Executive team without authority.
*Note: When forwarding suspicious e-mails to fraud-detection@gulfcapital.com:
  1. Do not modify the original subject line or contents enclosed, and do not include any personal or confidential information.
  2. Forward the full internet headers of any suspicious emails to fraud-detection@gulfcapital.com before deleting as this information willhelp Gulf Capital to track the true origin of the correspondence. The internet headers can be found through your e-mail system from within the e-mail. For example, in Microsoft Outlook, you can find the internet headers by opening the e-mail, then choosing "View" and "Options". Depending on the e-mail system that you use, the process for locating the internet headers will vary. We recommend you either copy and paste the internet header and message into a new e-mail or scan the e-mail and full headers and send as a PDF attachment to ensure it is received by fraud-detection@gulfcapital.com.

Protect Yourself

  1. We recommend that you avoid getting into a conversation with any fraudsters or revealingany personal or identifying information, but you should endeavor to record thepurported name of the person and organisation along with any other information they give you (e.g., telephone number, address etc.) and then forward all such information to fraud-detection@gulfcapital.com.
  2. You should obtain independent legal and financial and professional advice before handing over any funds or entering into any agreements in relation to such solicitations.
  3. We recommend that you not respond or open any attachments or links associated with any suspicious e-mails.
Copyright آ© 2017 Gulf Capital Pvt. JSC. All rights reserved.

Illegal Use of Gulf Capital's Name

Phishing Email Alert

Gulf Capital Pvt. JSC has recently become aware of a spate of fraudulent emails purporting to offer financing from, and employment at, Gulf Capital and Gulf Capital Limited (DIFC). and misusing the official Gulf Capital logo and trade name. These emails do not originate from Gulf Capital or any of our affiliates. If you have received any such email, do not click any links in the email or provide any personal information (e.g. your bank details or copies of identity documents).

There are a number of illegal advance fee scams in operation where our name and those of our Board of Directors and Senior Management are being impersonated and abused.

The Gulf Capital name, and sometimes the names of individual employees within our firm, have been used in various fraudulent scam emails, letters and phone calls. These communications typically seek to attract a victim by suggesting that project funding or a job can be obtained by paying an upfront fee. Sometimes fake documents are sent to the victim and websites mimicking the Gulf Capital name and brand are used.

Common themes include:

  • the use of similar domain names designed to appear legitimate; examples include using phishing email accounts from domains such as: @gulfcap-es.com, @gulfcp.com, @gullfinvest.com, @eaglesquare-ae.com, @gulfcainvest.com, board members name@outlook.com, @gulfunioninvestment.com, name@gullfcapital.com
  • offers of work/visa services related to employment in the Middle East upon payment of administrative, medical and other fees;
  • offers of project financing upon payment of a fake surety bond and due diligence fees;
  • forged Board of Directors resolutions approving loans, MOUs, loan agreements claiming "100% refundable" professional service fees;
  • bogus look-alike websites;
  • fake profiles on LinkedIn and My Opportunity purporting be Directors or Management of Gulf Capital;
  • "signed" and stamped contracts purporting to be provided by us regarding project financing; and
  • use of our UAE telephone numbers by criminal impersonators.

This is not an exhaustive list of scams. New schemes designed to steal the business public's money or personal data are being invented all the time or for use in other illegal activities. Please act prudently and sensibly for your own protection and take note of our Fraud Alert on our website. The perpetrators may not always request money or personal details on initial contact, but often wait until the victim has responded.

Please note that Gulf Capital and its Management and Directors have no involvement in these or any other scams, and will vigorously prosecute any violators in tandem with the concerned authorities. Our name is being used in an unauthorized and illegal way. Note that we do not use Gmail, Hotmail, Outlook or Yahoo addresses.

We recommend you delete scam emails and do not reply to scam letters, emails, calls or faxes, and do not send money to strangers. If you need to confirm with us whether a communication is genuine, please contact us at fraud-detection@gulfcapital.com.

I have read and understood the Fraud Alert, Terms & Conditions of Use and Privacy Policy. I accept the terms and condition therein and wish to proceed to the Gulf Capital website.

تناهى إلى علم شركة جلف كابيتال أن ثمة مراسلات متنوعة تعمم عن طريق البريد الإلكتروني، ومن مواقع على شبكة الإنترنت، وعن طريق البريد العادي أو الفاكس، تدعي زيفا أنها صادرة عن شركة جلف كابيتال أو بالاشتراك معها و/أو مع موظفيها. ويراد من عمليات الاحتيال هذه، في الكثير من الحالات، الحصول على المال و/أو معلومات شخصية من الأشخاص الذين يتلقون تلك المراسلات.

وتود شركة جلف كابيتال أن تحذر عامة الجمهور من هذه الأنشطة الاحتيالية التي يزعم الاضطلاع بها باسم الشركة و/أو باسم موظفيها؛ وستقدر لفت انتباهها إلى أي مراسلات مشبوهة.

يرجى الانتباه إلى ما يلي:

  • · لا تمنح شركة جلف كابيتال أي قروض شخصية أو تمويل شخصي.
  • لا تمارس شركة جلف كابيتال أي أعمال مع اسواق العملات العالمية و السلع و المعادن