Doha Bank SME team showcased themselves in the recently concluded Global Entrepreneurship Week (GEW) held at the Grand Hyatt in Doha under the patronage of HE the Minister of Economy & commerce, Shk. Ahmed Bin Jassim bin Mohamed Al-Thani with Qatar Development Bank (QDB) being the host.
Doha Bank stall received enthusiastic response from fledgling and established Qatari entrepreneurs and owners of small & medium enterprises (SMEs).
Doha Bank, as QDB’s preferred partner for the ‘Al Dhameen’ program, participated in GEW to show its support for the entrepreneurs and SME owners by providing information on financing through this program.
The ‘Al-Dhameen’ program supports Qatari SMEs in overcoming various obstacles usually faced by them due to lack of collateral security or short credit history. This program aims at encouraging commercial banks to extend credit to key sectors such as manufacturing, education, healthcare and important services.
Doha Bank’s has demonstrated its long term commitment to the success of SMEs by supporting diverse and new projects under the Qatar Development Bank’s ‘Al-Dhameen’ credit guarantee program such as setting up a state of the art battery factory which will help Qatar meet its requirement for industrial batteries, establishing a dental clinic employing the most advanced equipment or modified bitumen processing factory, a welding electrodes manufacturing facility, etc. All these projects will not only generate local employment but will also enable domestic consumers to meet their demands from these locally made products.
These projects will also enable these companies to make their dreams come true and also contribute to the Qatari economy by helping it to diversify and reduce its reliance on Oil & Natural Gas based industries and to bring the best know-how to the country’s doorsteps.
Mr. Atul Kinra, Head of SME unit at Doha Bank, also participated in a forum discussion held during the event on a uniform SME definition in Qatar.
An impressive presentation was made during ‘Al-Dhameen’ workshop organized for SME entrepreneurs in the backdrop of GEW. This was to showcase the capabilities of Doha Bank to support and promote SMEs.
Mr. Magdy Abdelmaksoud Zahran, managing partner of Lusail Battery Production Co., one of the many successful ‘Al-Dhameen’ customers, commended Doha Bank & QDB and also shared his success story during an interactive session with his peers and spoke extensively about the important role played by SME’s in the success of Qatari economy and stressed the need to diversify the economy.
Doha Bank aims to provide the best of financial services to its customers. It recognizes the importance of SME units in the Qatar economy which is rapidly expanding. Doha Bank is committed to continue meeting financial requirements of SME sector in Qatar and also thru its offices in Dubai, Abu Dhabi, Sharjah, Kuwait and India. Doha Bank already enjoys a sizeable SME customer base, strong corporate and retail business and has branch presence across the country to meet customers growing requirements. Doha Bank offers complete range of SME products like working capital, term lending, and contract financing products.
Apart from lending products, Doha Bank SME also offers specialized services like cash management, payroll products, trade services, customized forex solutions, insurance solutions, etc.