Published On: Wed, Jan 21st, 2015

Qatar Development Bank Wins Banker Middle East Product Award for “Best SME Loan”

Abdulaziz bin Nasser Al Khalifa, CEO of QDB received the award

Abdulaziz bin Nasser Al Khalifa, CEO of QDB received the award

Qatar Development Bank (QDB) has been awarded “Best SME Loan” by the Banker Middle East Qatar Product Awards 2014, the latest recognition of the bank’s leading position supporting and financing small and medium-sized enterprises (SMEs) in Qatar.

QDB achieved this victory after four weeks of voting and following online participation from 32,000 Banker Middle East magazine readers. This year’s awards were hotly contested by 110 nominees across 27 categories. The awards are among the most recognized and prestigious for financial institutions in the Middle East and North Africa (MENA).

On this occasion, Abdulaziz bin Nasser Al Khalifa, CEO of QDB, said, “We are proud of this honor, which reflects QDB’s achievements over the past year and recognizes our tireless efforts to support SMEs in Qatar – helping ensure strong, continued private sector growth for the future. Behind this award is an exceptional portfolio of products and services for SMEs and a track record of success in delivering them. In the past year, QDB granted approximately 375 loans, helping more than 100 SMEs in Qatar. To date, the bank has supported around 250 SMEs through nearly QR 3.5 billion in financing.” Al Khalifa added, “I would like to emphasize that QDB’s main strategy is to provide to our customers and partners with first-class service, and we would like to express our deep gratitude for their support and that of the industry as we accept this prestigious honor. I dedicate this award to each member of the QDB family, who has played a major role in propelling QDB to this leading position.” QDB was previously recognized by the Banker Middle East Product Awards for “Best SME Finance Scheme” in 2013, for its successful Al-Dhameen indirect lending program. Also this year, QDB was awarded the “Best Development Bank” in the Middle East. This series of awards reinforces QDB’s efforts building an ideal environment for the growth of SMEs and entrepreneurship in Qatar.

Garnering an audience of top bankers and financiers from around the region, the annual Banker Middle East Industry Awards are the Middle East’s foremost gathering of key players within the banking and financial services industries. The annual Banker Middle East Industry Awards program is designed to recognize those banks and financial institutions that are pioneers and standard-setters in finance. Through a combination of analytical assessment and reader feedback, the winners of the Banker Middle East Industry Awards represent the very pinnacle of innovation and growth in the region.

The awards are based in part on a peer voting process and in part on the CPI Financial 100 analysis of published, audited financial data. The results of the awards are therefore decided jointly with the industry and financial community and not solely by Banker Middle East.

Qatar Development Bank (QDB) is a financial entity fully owned by the government, set up by an Emiri Decree to invest in and develop local industries by supporting small and medium enterprises in Qatar. QDB aligned its strategy to correspond with the Qatar National Vision for the year 2030, to promote and facilitate development and growth of small and medium enterprises in core economic realms, resulting with long-term socioeconomic benefits to the people of Qatar.

In addition to providing financial aid, the bank also offers advisory support and guidance to small and medium enterprises regarding start up, growth and expansion of their activities, aiming to establish a sustainable economic system.

QDB recently launched an additional program named TASDEER, offering export financing services, business development services and support for promotion of private sector exporters based in Qatar

Source : Qatar News Agency

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