PYMNTS.com

#UAE Authorities Plan SMB #Crowdfunding Framework

United Arab Emirates (UAE) regulators are setting out to establish a framework to guide the small business (SMB) crowdfunding market. Reports noted that regulators are aiming to promote innovation and a broadening of small business activity. Equity crowdfunding is expected to provide $93 billion to small- and medium-sized enterprises by 2020, reports added. In the UAE, SMBs stand to gain significantly from that trend, as these businesses make up an estimated 85% of all UAE companies. In Dubai, that number is even higher, at nearly 95% of all businesses. Meanwhile, research from the Khalifa Fund for Enterprise Development found that as many as 70% of small business loan applications in the UAE are rejected by traditional banks. Ian Johnston, Chief Executive of the Dubai International Financial Services Authority (DFSA), said the DFSA was the first in the GCC region to formalize a tailored regime for loan and investment crowdfunding platforms, which represent an important source of financing for the SME sector.

A.M. Best Withdraws Ratings of Islamic Arab Insurance Co. (Salama)

A.M. Best Europe – Rating Services Limited has downgraded the financial strength rating of Islamic Arab Insurance Co. (Salama). This is due to the uncertainty regarding Salama’s main subsidiary, BEST RE Limited (Malaysia), and the potential implications for Salama’s capitalisation, operating performance and profile. Concurrently, A.M. Best has withdrawn the ratings as Salama has requested to no longer participate in their rating process.

MSCI ESG Manager Now Available to Corporate Issuers Through ISS Corporate Services

According to an announcement by ISS Corporate Services (ICS), the online environmental, social and governance (ESG) analytics platform MSCI ESG Manager is available. The platform will provide an integrated suite of tools for efficient understanding, analysis and management of sustainability risk across a spectrum of ESG factors. Companies will be able to determine the impact of ESG factors on reputational risk, the rating of their own environmental and sustainability practices and much more.

Read more on: http://pymnts.com/news/businesswire-feed/2012/october/15/msciesgmanagern...

Syndicate content