QDB Completes 4th Edition of Bank's Retirees Entrepreneurship Program "Khutwa"

Doha, March 19 (QNA) - Qatar Development Bank (QDB) selected three of the 25 projects presented to the jury in the 4th edition of "Khutwa" program to build the capacity of retirees in the field of entrepreneurship, organized by the bank in cooperation with the General Retirement and Social Insurance Authority. During the ceremony, 25 applicants presented their ideas. Having heard their competitive pitches, the top 3 finalists who were announced at the ceremony are, the "Training Center for Women Workers" project, and the "Children's Sports Center" project, and the "Photography for babies" project. During the ceremony, the participants were selected based on specific criteria such as: the market need for the service or product; value enhancement that it offers, presenting an integrated business model for the project idea, proving the interest of the customers about the idea of the project, establishing financial viability for the project, and an assertive presentation in front of the expert panel. The winners will receive consulting services worth QR 100,000 including marketing advice, legal advice, feasibility studies and financial advice, where the winners can choose the services they wish to use based on their requirements. Commenting on this occasion, the Executive Director for Advisory Services at QDB Ibrahim Abdulaziz Al Mannai said: "The launch of the 4th edition of Banks Retirees Entrepreneurship Program (Khutwa) comes in the context of our strong commitment to support and develop the national economy and contribute to the achievement of the Qatar National Vision 2030. QDB has organized this program in collaboration with the General Retirement and Social Insurance Authority to build basic skills for retiree entrepreneurs, in order to provide opportunities and conditions for the establishment of successful business, and today we were spellbound by the ideas being displayed by the participants who are still buzzing with potential even after the retirement. Through such endeavors, QDB is committed to support entrepreneurial activities through different entrepreneurial paths, including developing entrepreneurial cultures, building skills, and supporting growth." On his part, the Director of the Retirement Department at the General Authority for Retirement Khalifa Issa Al Khulaifi said: "I believe this is one of the most concrete steps that has been taken to transform retirees' and pensioners ideas into concrete programs. This initiative has opened new horizons for them through its various services including: training, motivation, free consultation and financing." "This initiative aims at empowering retired entrepreneurs, by creating the right conditions & enabling environment and equipping them with the right skills needed for them to qualify for running Small and Medium enterprises and manage operations." he added. Khutwa program aims to train and develop retirees to learn basic skills of entrepreneurship, through a package of training programs and advisory services to enter the world of entrepreneurship to establish and manage a sustainable successful business. (QNA)