Under the Patronage of
Vice-President and Prime Minister of the UAE and Ruler of Dubai
Tanvir Aslam manages the UAE operations for The Islamic Corporation of the Insurance of Investment
and Export Credit (ICIEC). He holds a Masters in Islamic Finance from IE Business School and specializes
in trade and investment structuring to mobilize financing for emerging markets. He has been with ICIEC
for 7 years and now manages a portfolio of USD 3 billion serving the MENA Region.
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), is part of the Islamic
Development Bank Group. ICIEC provides risk mitigation solutions to investors, financiers and exporters
globally supporting trade and investment for its 47 member countries. ICIEC as a developmental
institution prides itself on supporting highly impactful projects and trade transactions supporting the
development of our member country economies.
14:00 - 15:30
SME Pillar Session 1 - Financing SMEs in the Digital Era
Small and medium enterprises (SMEs) account for over 90% of firms worldwide. They are the most significant contributors to employment and generate the majority of jobs in developing economies. SMEs are also a substantial contributor to overall value-added in these economies.
However, SMEs face greater financing obstacles than larger firms—they enjoy less access to external finance and face higher transactions costs and higher risk premiums. Almost 70% of SMEs do not use external financing from financial institutions, and another 15% are underfinanced. The total credit required to finance these SMEs fully is over $2 trillion, equivalent to 14% of total developing economy GDP.
The session will discuss how to finance SMEs in this digital era and what challenges are.