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Al Falak to focus on KSA's fast growing SME segment

ALFalak Electronic Equipment & Supplies Co, a leading provider of technology-based solutions to the Middle East, has announced that IT giants and service providers in the Kingdom of Saudi Arabia are now focusing on marketing initiatives that leverage the huge business potential of the fast-growing small and medium enterprises (SME) segment, which now represent an overwhelming majority of 93 per cent of enterprises in the Kingdom and account for nearly a quarter of total employment. Highlighting the growing focus on SMEs, ALFalak revealed that it has recently signed an agreement to provide the Microsoft programs required for a new service that delivers enhanced and customised financial solutions to Saudi’s SMEs.

ALFalak has collaborated with Visa, Al Rajhi Bank and Microsoft in introducing the Visa-Microsoft "Aamal" credit card, a new credit card developed specifically for SMEs. ALFalak disclosed that the new credit card has been introduced in line with the growing technology adoption rate with the SME sector, as companies continue to take advantage of modern tools and technologies to address various economic challenges, improve costs and increase sustainability.

Ahmed Ashadawi, CEO and President, ALFalak said: "With an overwhelming majority of businesses in Saudi belonging to the SME sector, ALFalak is focusing on various projects and initiatives that target and benefit SMEs and ultimately strengthen our presence in this very important growth segment. Recently, we have provided the necessary Microsoft programs for the implementation of the Aamal card. This project

represents our commitment to be proactively involved in initiatives that aim to enhance the rate of technology adoption among SMEs and enable them to keep pace with the rapid IT growth in the Kingdom."

The Aamal credit card, the first Visa-Microsoft co-branded credit card in Saudi, has been customised to help SMEs in the Kingdom achieve cost savings and attain better returns through a range of discounts and benefits. Moreover, the card is a lower risk payment solution compared to cheques, while it also considerably reduces the dependency on petty cash.

ALFalak has consistently been ranked by Arab News as one of the top 100 companies in Saudi Arabia for four consecutive years. The company delivers enterprise IT solutions through a network of offices and trained technical personnel throughout the Middle East. Al-Falak’s portfolio of business partnerships include leading solution and software providers, hardware and consumable manufacturers, business consultancy firms and implementation specialists.

Signs an agreement to provide the Microsoft programs required for a new service that delivers enhanced and customised financial solutions to Saudi’s SMEs

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