Qatar Development Bank (QDB) identified ways to enhance indirect lending for Small and Medium Enterprises (SMEs) that have a limited credit history or sufficient guarantees to acquire finances at its ninth Al Dhameen workshop with partner banks.
QDB Strategy and Business Development Executive Director Hamad Al Kubaisi chaired the session attended by representatives from 14 partner banks and financial institutions in Qatar.
Al Dhameen partners Enterprise Qatar, Bedaya Centre and Qatar Business Incubation Centre too attended the event.
Representatives from QDB and its partners, Enterprise Qatar and Qatar Shell, briefed participating banks on governmental programmes available for SMEs.
The talked about the steps taken to enhance Al Dhameen and the challenges SMEs face in accessing project financing.
Participants identified current challenges and implementing customers’ suggestions in future. Al Dhameem team tabled their results over the past few years and presented a future strategy.
Al Kubaisi said, “This workshop reiterates QDB’s commitment to enhance Al Dhameen’s performance and to boost capabilities of participating banks to enable it deal with SMEs.
“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 SMEs.” We are pleased with the status of Al Dhameen and the trust our partner banks have put into the programme. This has played a vital role in Al Dhameen’s success in a relatively short period, he added.
QDB set up Al Dhameen to encourage banks to finance promising SMEs held back by a limited credit history and insufficient collateral.
Qatar-based private companies are eligible for guarantees of up to 85% of the loan amount.
Source : Qatar News Agency