Why crowdfunding is important for the UAE – The National

Why crowdfunding is important for the UAE – The National

The UAE government has approved the use of crowdfunding as the Emirates aims to open more streams of funding for smaller businesses and broaden the country's liquidity pool.

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said the Cabinet approved crowdfunding activity for both the public and private sectors.

“Crowdfunding is one of the best means to support the financing of new innovative business ideas … it will open a door for young people and entrepreneurs to finance their ideas,” he said on Twitter.