ID :
161951
Thu, 02/17/2011 - 21:02
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Shortlink :
https://oananews.org//node/161951
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Qatar Development Bank and Commercialbank Sign MoU on Al Dhameem
Doha (QNA) - Qatar Development Bank (QDB) and Commercialbank have signed
a Memorandum of Understanding (MoU) on financing solutions for Small and Medium Enterprises (SMEs) called 'Al Dhameem' or loan assurance programme.
The new loan assurance programme with give SMEs access to financing for investment and working capital. It will also be a big boost for companies facing credit facility challenges.
QDB's Executive Manager for Strategic Planning Abdul-Aziz bin Nasser Al Khalifa and
Commercialbank's Deputy Chief Executive Officer Abdulla Al Raisi signed the MoU.
Al Dhameem, indirect loan facility programme, will enable economically-viable SMEs overcome financial speedbreakers like collaterals that banks stipulate.
Abdul-Aziz Bin Nasser Al Khalifa said, "Al Dhameen programme has been developed to provide simplified and comprehensive solutions to meet all funding requirements for SMEs in Qatar. QDB is working to establishing a favourable finance and investment environment for SMEs in order to build new breed of entrepreneurs in the Qatar.
"We are very pleased to partner with Commercialbank in order to use its expertise and experience to ensure proper financing solutions to support and develop SMEs. This MoU is among the most significant initiatives being undertaken to support private sector development in Qatar through the funding of SMEs."
Abdulla Al Raisi said, "Commercialbank is committed to the development and progress of Qatar and the achievement of Qatar s National Vision 2030, the blueprint of sustainable growth in the country.
"This agreement with QDB for 'Al Dhameen' Indirect Finance Facility will go a long way in providing suitable finance options for SMEs, which play a pivotal role in the country s economic growth and future. With this finance facility, the SMEs will be able to continue their expansion and diversification programmes without any barriers to raising finance."
a Memorandum of Understanding (MoU) on financing solutions for Small and Medium Enterprises (SMEs) called 'Al Dhameem' or loan assurance programme.
The new loan assurance programme with give SMEs access to financing for investment and working capital. It will also be a big boost for companies facing credit facility challenges.
QDB's Executive Manager for Strategic Planning Abdul-Aziz bin Nasser Al Khalifa and
Commercialbank's Deputy Chief Executive Officer Abdulla Al Raisi signed the MoU.
Al Dhameem, indirect loan facility programme, will enable economically-viable SMEs overcome financial speedbreakers like collaterals that banks stipulate.
Abdul-Aziz Bin Nasser Al Khalifa said, "Al Dhameen programme has been developed to provide simplified and comprehensive solutions to meet all funding requirements for SMEs in Qatar. QDB is working to establishing a favourable finance and investment environment for SMEs in order to build new breed of entrepreneurs in the Qatar.
"We are very pleased to partner with Commercialbank in order to use its expertise and experience to ensure proper financing solutions to support and develop SMEs. This MoU is among the most significant initiatives being undertaken to support private sector development in Qatar through the funding of SMEs."
Abdulla Al Raisi said, "Commercialbank is committed to the development and progress of Qatar and the achievement of Qatar s National Vision 2030, the blueprint of sustainable growth in the country.
"This agreement with QDB for 'Al Dhameen' Indirect Finance Facility will go a long way in providing suitable finance options for SMEs, which play a pivotal role in the country s economic growth and future. With this finance facility, the SMEs will be able to continue their expansion and diversification programmes without any barriers to raising finance."
