SMEs are the primary component of liberal economy and social stability. SMEs not only contribute to output, fulfill social objectives, attract considerable foreign reserves into a country but also have a clear importance in providing employment, they are the backbone of the private sector all over the world which drives the impact to a sustainable economy.
Doha Bank recognized this opportunity and is a pioneer in appreciating the importance of the very critical role being played by SMEs in the development of Qatar’s economy. Doha Bank was the first to launch ‘Tatweer’, a dedicated SME unit in 2008.
Doha Bank has been further recognized by Qatar Development Bank through the award “Best Partner Bank” for Exposure Growth under its Al Dhameen program.
Mr Abdulaziz Bin Nasser Al-Khalifa, Chief Executive Officer of Qatar Development Bank, said: “Doha Bank has demonstrated consistent commitment to supporting the growing SME scene through their collaboration with QDB on Al Dhameen program. QDB values our partner banks for the key role they play in empowering Qatar’s private sector and this award is a token of appreciation for all their efforts. I would like to congratulate them for this deserved win and I look forward to more of these successful collaborations in the future.”
Dr. R. Seetharaman, CEO of Doha Bank speaking on this occasion, thanked QDB CEO for recognizing the efforts of Doha Bank, SME and assured continuous support of AL Dhaameen Program and other programs of QDB.
Ala Azmi Abumughli, Chief Whole Sale Banking Officer of the bank said, “DOHA Bank will continue to support SMEs and is further committed to develop innovative financial solutions and services, as we believe SMEs have bigger role in economic, social, ecological development of the country”. Atul Kinra Head of SME said, “We firmly believe that our customer’s success stories will encourage other SME customers to approach Doha Bank for their financing requirements& services.”
Doha Bank is one of the key partners in QDB’s ‘Al- Dhameen’, Credit Guarantee program which also covers startups, particularly in the field of manufacturing and service sector.
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 dental clinic employing the most advanced equipment, bitumen processing factory, Cafes, School, health clinics, high end furniture factory, Gymnasium, wooden factory, steel fabrication, etc. All these projects will not only generate local employment but will also enable domestic consumers to meet their demands from these locally produced products.
Recently, one of our SME customers, Ms. Middle East Modified Bitumen Company (MEMBCO), financed by Doha Bank in Partnership with Qatar Development Bank Under Its AL Dhameen Scheme was awarded “Qatar Entrepreneurship Award – Rowad Qatar 2019” and Best relationship manager award was given to Doha Bank SME relationship manager. Last year, our 7 SME customers were recognized in the “SME Excellence award “of QDB.