Project Proposal: The Risk of Starting a Small Business by an Emarati's Women By Taking a Loan from Abu Dhabi Islamic Bank
Introduction
Over the years, various steps have always been taken to ensure that the Emirati women are then able to be empowered. This has included through the various issues such as the increase in their involvement in the workforce and further the setting aside of certain positions within the society that need to be filled with women. All these steps have been taken to empower women. Even though these measures may be deemed to be similar to many nations, and hence it may not require the headline it has gotten over the past decade, The UAE is an Islamic state and taking into account the misogynistic nature of Islam, it proves that for sure these are unique steps that need recognition. In light of this issue of empowering women, the various state corporations have in place measures that would help to ensure that the women within the society are allowed as much as possible. This research aims to study on the risks that the women within the UAE community have to undergo by taking loans from the Abu Dhabi Islamic Bank. By bearing in account these issues, it will help address these risks and further assist in coming up with the best actions plan that would not only help the huge companies in the nation but also the small businesses within the country.
Research Objectives
The research will answer the question of whether it is risky for Emirati women to start small businesses by taking loans from Abu Dhabi Islamic Bank.
Whether the available steps taken are efficient to address the issue of women empowerment
What are the major barriers to the success of these small businesses
Background and Significance
The Abu Dhabi Islamic Bank has been in existence from the late 20th Century, in Abu Dhabi city in the United Arab Emirates. The bank was founded by the affluent members of the UAE society, namely, the members of the Ruling Family, the Abu Dhabi Investment Authority, Prominent UAE Nationals and Dr. Waseem Ahmed Khan. The bank is tasked with the duty of carrying its activities by the stipulations of the Sharia Law. Its rules on interests and further involvement of women in the acts must go in line with the various requirements of the Koran and the sources of Islamic Law. By the fact that the nation is governed by the Common Law and the Sharia Law, these will always be taken into account when it comes to matters of taxation, auditing, and accounting. By the year 2008, the Emirati Women formed a staggering 21% of the labor force, and this figure is meant to increase over time. This means that the various financial institutions have to have in place programs which would help ensure that the female members of the UAE community can get the required funding which would enable them to be able to be successful in their entrepreneurial ventures. The Abu Dhabi Islamic Bank has just done that. The ADIB has been able to come up with the Dana style of banking which is and particular female type of banking which is tailored to meet the requirements of the female customers. These include comfortable areas where they can be able to carry out their activities and further being given the useful information that would reciprocate into the success of the business venture (ADIB, 2016). Even though all these steps have been taken, the road is still not smooth for the female entrepreneurs within this UAE society. This is mainly because these individuals are unable to come up with the most out of the situation primarily because of the stipulations of the Sharia
Significance
Preliminary Studies
ADIB has carried out a several inventiveness to react to the explicit requirements women need for their funding. The Dana Bazaar package is an addition to these wits by backing the abilities and proficiency women are capable of bringing to business. ADIB hosted an occasion for the second time whose focus was to equip the female entrepreneurs with home-grown small business a stage to display their ventures to the UAE community. ADIB Bazaar took place in December 2016 from 15th to 17th, at IPIC Arena in Abu Dhabi. The introduction of Dana Women’s Banking was a different way to bank aimed entirely to cater to the desires of ADIB’s female clients. The ADIB Bazaar 2016 provided ADIB’s women entrepreneur businesses with display cubicles for free to showcase and advertise their work. Business classifications at the occasion included fitness and wellness, food provisions, fashion, fragrances, gifts and mementos, children goods, stationery products and much more.
The Head of CSR Council- Nawal Al Bayari remarked on the inventiveness by saying that the accomplishments and achievements of UAE female entrepreneurs have played an integral role in the growth and development of UAE, therefore being among the leading banks, it is their job to offer support to women by empowering and investing in their concepts. The difficult for majority female capitalists is that they have homegrown ventures and so find it demanding to publicize the merchandises they are retailing to the community or to have access to the podiums and spaces they require to showcase their businesses. The achievement of the ADIB Dana Bazaar proved that indeed it was a good stage for them to begin – whether they are pursuing to enlarge their market familiarity or create an excellent client base for their items (MENAherald, 2016).
Research Design and Methods
Throughout the formative research phase, where the objective is to get as much information as possible and understand how the audience feels about the research subject, several research methods will provide various perspectives for understanding the big picture. The most convenient methods of research would be exploring various articles that have been written concerning the same. Additionally, the bank website http://www.adib.ae/en/pages/personal.aspx will help in providing information about the undertakings of the bank.
References
ADIB. (2016, November 16). ADIN personal Banking. Retrieved January 25, 2017
MENAherald. (2016, December 14). MENAherald. Retrieved January 25, 2017
