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QDB identifies ways to enhance the indirect lending initiative for Small and Medium Enterprises

Qatar Development Bank holds Al Dhameen dialogue session with partner banks

: Monday, April 28 - 2014 @ 09:30

Qatar Development Bank (QDB) held its ninth Al Dhameen dialogue session with partner banks, to identify ways to enhance the indirect lending initiative for Small and Medium Enterprises (SMEs) that have a limited credit history or sufficient guarantees to acquire finances.

The session was chaired by Mr. Hamad Al-Kubaisi, Executive Director of Strategy and Business Development at QDB. Attending the event were representatives from 14 partner banks and financial institutions in Qatar as well Al Dhameen partners – Enterprise Qatar, Bedaya Centre, Qatar Business Incubation Centre etc.

The session comprised of presentations and discussions, during which representatives of QDB and its partners Enterprise Qatar and Qatar Shell briefed participating banks on governmental programs available for SMEs, and the steps taken to enhance Al Dhameen, highlighting the efforts towards further developing the program and overcoming the challenges facing SMEs in acquiring the finances needed for their projects.

Representatives from participating banks took part in closed discussions; where they were able identify the current challenges and customers’ feedback to include in future implementations.

Al Dhameen team members also demonstrated their achievements throughout the past few years, and showcased the program’s future strategy and the efforts conducted to develop the program.

Mr. Hamad Al-Kubaisi, Executive Director of Strategy and Business Development at QDB, said: “This workshop underscores QDB’s commitment to enhancing Al Dhameen’s performance; and to solidify the capabilities of participating banks to enable it to deal with SMEs in an exceptional form. We look forward to maximizing the banks’ role from just financing project to providing consultation services as well. QDB is constantly working to develop Al Dhameen to support the growth and prosperity of Small and Medium Enterprises in Qatar.”

“We are pleased with the status of Al Dhameen and the trust our partner banks have put into the program has played a vital role in Al Dhameen’s success in a relatively short period of time,” Al-Kubaisi added.

Al Dhameen was established by QDB to encourage banks to finance promising SMEs held back by a limited credit history and insufficient collateral. Qatar-based private sector companies are eligible for guarantees of up to 85% of the loan amount.

Through Al Dhameen, QDB aims at supporting private and SME sectors in line of its efforts to achieve economic diversification in Qatar and lower dependency on hydrocarbons sector as a major source of income.

In line with the program, the bank held many workshops for enterprises’ owners to get them familiar with available investment opportunities in the SME sector. The bank also organized training programs targeting customer relationship managers in partner banks in order to enhance their skills in credit and project evaluation.

For more information please contact:

Rami Yashruti
M: +974 55 389 036

Samer Bsaiso
M: +974 66 647 185

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Monday, April 28- 2014 @ 9:30 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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