The important role of SMEs in a country’s economy is a universally accepted fact of life. They create jobs, introduce innovative ideas, contribute to transborder transactions and to GDP growth. They should therefore be nurtured and taken care of by the governments to fluorish and operate continuously for a stable and diversified economy.
A well defined and organised legislation is a basic requirement for the development of SMEs. Entrepreneurial skills development constitutes an important part of the equation. However, access to finance is generally considered to be the most crucial item affecting the development of SMEs. Several Studies carried out by international organisations, such as the IFC estimated that there are close to 400 million micro, small and medium scale enterprises in the emerging markets, and about 70 percent, corresponding to some 280 million, lack access to loans.
ADFIMI, as a development forum tries to keep abreast with the issues concerning the inpediments to SMEs' development and finance by bringing it to the attention of NDFI community, especially to its member institutions. In this instance we are joined with Jordan Islamic Bank and sincerely appreciate their contribution as the host institution. We are grateful to H.E. Dr. Ziad Fariz the Governor of the Central Bank of Jordan for the Seminar to be held under his patronage.
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