(Food-Beverage-News.Com, January 11, 2023 ) DUBAI, United Arab Emirates – (ARAB NEWSWIRE) - Yuze, a UAE-based fintech offering the right business account to the majority of SME and freelancers, announced that it has signed an MOU with a leading financial institution to enter the Saudi Arabia market.
As Yuze Digital is getting ready to launch its business account services in the UAE, Saudi Arabia comes as a natural first expansion market considering its high potential and in line and in support to the country growth.
Focusing on the financial inclusion for businesses, and in support to government initiatives, Yuze easy and simple onboarding, will enable any local SMEs and Freelancers with valid trade licenses to open quickly a business account. This business account will support their daily spending, be it bill payments or transfers, help them to budget via the provided transactions analytics and use Yuze business tools to send / track invoices with payment links.
“We made it our mission to support financial inclusion for businesses” said Rabih Sfeir, founder and CEO of Yuze. “The inclusion of small and medium sized businesses in the financial system can contribute to economic growth, job creation as well as financial stability.”
Small and medium-sized businesses are a force to be reckoned with as the Kingdom continues to diversify its economy, which has been dependent on oil for many years, in line with the objectives outlined in Vision 2030. The goals set forth include bringing down the unemployment rate from 11.6 percent to 7 percent, increasing the percentage of women in the workforce from 22 percent to 30 percent, and increasing the contribution of SME to 35 percent of the GDP by the end of this decade.
About YUZE Digital
YUZE is a financial technology platform and not a bank. Yuze is bringing easy business banking solutions to small businesses, e-traders, and freelancers to help them run the financial aspect of their business efficiently and with ease.
YUZE also aims to give back to the community by actively supporting start-ups and entrepreneurs, so they can take their first steps towards financial independence.
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