Souqalmal.com Ranked Amongst Top 100 SMEs in Dubai

Souqalmal.com has been ranked amongst the top 100 promising SMEs in Dubai in a ceremony held on 15thNovember 2015. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of the Mohammed bin Rashid Al Maktoum Foundation, honored the owners and chief executives of the SMEs which earned a coveted spot in the rankings.

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The Dubai SME 100 ranking 2015 is the third in the series of a two-yearly ranking, with the first launched in 2011. The rankings were launched by Dubai SME, a division of the Department of Economic Development (DED) in Dubai, with an aim to promote entrepreneurship in the emirate.

Small and Medium Enterprises are key contributors to Dubai's economy where they make up to 95 percent of all companies in Dubai, contribute 40 percent to the total value added, and employ 43 percent of Dubai'sworkforce.

On being featured in the Dubai SME 100 ranking, Souqalmal.com founder & CEO Ambareen Musa said:

"To be featured among the top 100 SMEs in Dubai, and to be handpicked from 4,532 companies competing for the spot, is a clear indication of how far we've come in our journey which started with a goal to raise the level of financial awareness in the UAE."

A total of 4,532 companies registered in the 2015 cycle, 49 percent higher compared to the enrollments seen in 2013. These companies employ over 144,000 people with a combined net revenue estimated at almost AED 70 billion.

The enrolled SMEs were evaluated based on seven vital parameters. There were two financial parameters - growth in turnover and growth in profit, and five non-financial parameters - innovation, international orientation, human capital development, corporate governance and corporate social responsibility.

Further to that and as part of an event organized by the Entrepreneur Middle East Magazine, Ambareen Musahas won the 'Woman Entrepreneur of the Year' award at the Enterprise Agility Awards 2015. The awards ceremony, held on the 16th of November in Dubai, forms part of a series of annual awards aimed at recognizing the dynamic entrepreneur community in the UAE.

Ms. Musa added:

"This is a huge recognition for our company and validates more our mission at helping consumers make smarter and more informed financial decisions. We hope to continue improving our services and become the indisputable go-to source for consumers looking to get unbiased, timely and accurate information on personal finance products."