Standard Chartered, Mashreq, and LuLu Launch Hal SME Platform in UAE

A new digital business-to-business platform named Hal has launched in the UAE through a joint venture among SC Ventures (Standard Chartered's venture division), NeoVentures (Mashreq's corporate venture arm), and LuLu Financial Holdings, Arabian Business reported. The platform was unveiled at Investopia Bridge 2026 in the presence of Abdullah bin Touq Al Marri, UAE Minister of Economy and Tourism.

Hal, which means "solution" in Arabic, functions as a marketplace enabling small and medium-sized enterprises (SMEs) to discover commercial partners, buyers, and suppliers, while offering direct access to financial, technical, and logistics services. Beehive, Microsoft, Visa, and Aramex are among the initial companies joining the platform's ecosystem following memoranda of understanding signed at the launch.

According to the report, SMEs represent more than 94 percent of all companies operating in the UAE and contribute over 60 percent of the nation's non-oil gross domestic product. Despite their economic importance, smaller enterprises frequently encounter hurdles in sourcing reliable trading partners, accessing credit, and implementing digital tools.

Alex Manson, chief executive of SC Ventures, stated that the initiative aims to consolidate fragmented support across the SME journey by bringing together key corporate partners. While initial operations focus on the UAE domestic market, the founders plan longer-term expansion to support regional and cross-border international trade.