20.05.2015, 15:42
QIIB signs new AL DHAMEEN program portfolio agreement with Qatar Development Bank
OREANDA-NEWS. Mr. Abdulbasit Al-Shaibei, CEO of the (QIIB) and Mr. Abdul Aziz Bin Nasser Al Khalifa, CEO of the Qatar Development Bank (QDB) signed the Al Dhameen program portfolio agreement, sponsored by the QDB, enabling further expansion of SMEs financing.
The signing was attended by Mr. Jamal Al Jamal, Deputy CEO of QIIB together with Mr. Masson Al Asfar, head of Corporate Banking, and Mr. Mahmoud Abdullah, head of SMEs Banking services. Attending from the QDB were Mr. Hamad Al Kubaisi, Executive Director for Strategy and Business Development, Mrs. Jawaher Al Nuaimi, Director of the Al Dhameen program, and Mr. Khaled Al Maneh Executive Director of Business Finance.
The new product "Al Dhameen portfolio", is a 100 million Qatari Riyals portfolio aimed at facilitating and speeding up approvals to guaranty the value of the funding provided by the partner bank to small and medium enterprises lacking sufficient guarantees. QDB has prepared a special portfolio guide that describes the terms, conditions, eligibility criteria, due diligence, credit monitoring, applications and guidelines development, to help QIIB to take the necessary decisions without referring to the QDB. The drafting of the program content took nearly two years of close cooperation between QDB and partner banks to cater to all needs and increase transparency.
Commenting on this event, Mr. Abdul Aziz Bin Nasser Al Khalifa, CEO of QDB, was thrilled to launch the new products` portfolio of the Al Dhameen program. He said: “The Al Dhameen program has been very successful so far in achieving the goal of its creation, overcoming the financial obstacles facing the SME sector, allowing SMEs to attain financial sustainability on a larger scale. And today the program comes out with a new look along with the partner banks, helping to speed up bank financing process for SMEs, so that the entrepreneurs of the QDB can find their ideal destination, as the bank provides them with a full range of products of which they can take a great advantage, such as the implementation of business planning, the adoption of a variety of tools to support the SMEs through the Internet as well as the specialized training programs. The bank will also allow them to benefit from the bank''''s advisory services, including assistance in the development of their own feasibility studies and conducting market research as well as ensuring the adequate care enabling them to launch their projects and compete within the local and international markets”.
The signing was attended by Mr. Jamal Al Jamal, Deputy CEO of QIIB together with Mr. Masson Al Asfar, head of Corporate Banking, and Mr. Mahmoud Abdullah, head of SMEs Banking services. Attending from the QDB were Mr. Hamad Al Kubaisi, Executive Director for Strategy and Business Development, Mrs. Jawaher Al Nuaimi, Director of the Al Dhameen program, and Mr. Khaled Al Maneh Executive Director of Business Finance.
The new product "Al Dhameen portfolio", is a 100 million Qatari Riyals portfolio aimed at facilitating and speeding up approvals to guaranty the value of the funding provided by the partner bank to small and medium enterprises lacking sufficient guarantees. QDB has prepared a special portfolio guide that describes the terms, conditions, eligibility criteria, due diligence, credit monitoring, applications and guidelines development, to help QIIB to take the necessary decisions without referring to the QDB. The drafting of the program content took nearly two years of close cooperation between QDB and partner banks to cater to all needs and increase transparency.
Commenting on this event, Mr. Abdul Aziz Bin Nasser Al Khalifa, CEO of QDB, was thrilled to launch the new products` portfolio of the Al Dhameen program. He said: “The Al Dhameen program has been very successful so far in achieving the goal of its creation, overcoming the financial obstacles facing the SME sector, allowing SMEs to attain financial sustainability on a larger scale. And today the program comes out with a new look along with the partner banks, helping to speed up bank financing process for SMEs, so that the entrepreneurs of the QDB can find their ideal destination, as the bank provides them with a full range of products of which they can take a great advantage, such as the implementation of business planning, the adoption of a variety of tools to support the SMEs through the Internet as well as the specialized training programs. The bank will also allow them to benefit from the bank''''s advisory services, including assistance in the development of their own feasibility studies and conducting market research as well as ensuring the adequate care enabling them to launch their projects and compete within the local and international markets”.
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