Dubai – Sharikat Mubasher: The Project Financing Committee of RUWAD Establishment for SME Development convened its 41st meeting to assess new funding applications and review the progress of its financing programs aimed at supporting Emirati-led ventures in Sharjah.

As reported by the Emirates News Agency-WAM, the session was chaired by Hamad Ali Abdullah Al Mahmoud, Chairman of the Sharjah Economic Development Department, with the participation of committee members and Fatima Hassan Al Ali, Director of the foundation and head of the Technical Committee for Project Financing.

During the meeting, members examined the remaining financing balance allocated for 2026 and reviewed approvals issued under RUWAD’s direct financing program, in addition to indirect financing arrangements carried out in partnership with banks. A number of new project applications were presented, alongside requests to reconsider earlier financing decisions, which the committee discussed before issuing the necessary rulings.

Among the outcomes, the committee approved AED700,000 in funding for a project operating in the sports sector through an indirect bank-financing mechanism, reflecting RUWAD’s continued focus on supporting promising projects in strategic industries.

Following the latest approval, the total number of projects financed by the committee since the start of 2026 reached three, with cumulative funding of AED1.5 million.

The committee also called for the development of a comprehensive evaluation framework for future financing requests. The proposed system will assess factors such as credit history, deduction ratios and applicants’ monthly income in order to improve the accuracy of funding decisions and reinforce governance and transparency across RUWAD’s financing programs.