Doha Bank is pioneer in appreciating the importance of the very critical role being played by SMEs in the development of Qatar economy. Doha Bank was the first bank to launch ‘Tatweer’, a dedicated SME unit in 2008.Through this initiative, Doha Bank would continue to participate in Qatar’s diversification story by encouraging the SME Sector.
Doha Bank SME got further recognition when Qatar Development Bank has awarded its SME customer, Ms. Middle East Modified Bitumen Company (MEMBCO), financed by Doha Bank in Partnership with Qatar Development Bank Under Its AL Dhameen Scheme.
This award was given to this company under “Qatar Entrepreneurship Award – Rowad Qatar -2019”. This national award recognizes innovative Qatari Entrepreneurs who have demonstrated excellence throughout their work and their contribution through SME to build a solid and diversified national economy. The award was given on 12th Nov by HE. Ali bin Ahmed Al Kuwari, Qatar’s Minister of Commerce and Industry.
This project is an import substitute, first factory in Qatar, established in year 2016. They are the leading manufacturer and supplier of Modified Bitumen to the road sector. Company is 100% owned by Qatari entrepreneurs, Mr. Ahmed Mohammad A A Al- Shaabiand and Mr. Khalifa Tayseer I M Al- Jassim.
Dr. R. Seetharaman, CEO of Doha Bank appreciated efforts of the customer who got an award and said “Recognizing the top performing SMEs in Qatar creates a motivational environment within the business community in Qatar. This will be a key contributor to the overall development of the SME eco-system in Qatar”.
The contribution of Doha Bank SME deserves accolades as only 4 companies were awarded and out which one was won by their customer.
The Middle East Modified Bitumen Company – MEMBCO is supplying bitumen 60/70 and producing products that meet the customer requirements as PMB (Polymer Modified Bitumen) in all types of grades like (PG76S-10, PG76H-10, PG76V-10, PG76E-10) and Emulsion (CSS1H) K-60, and CRUMB RUBBER MODIFIED BITUMEN (CRUMB) related products. This range of products is backed by ongoing research and development. These Complimentary activities are aimed at assisting road authorities and consulting engineers in building roads of the highest quality.
Doha Bank & Middle East Modified Bitumen Company – MEMBCO recognized that a road network is a nation’s most strategic asset, as the idea is new in the market and Doha Bank believed in professionalism of its clients and MEMBCO mission is to provide their customers with national products manufactured to the highest standards enabling them to build roads for the future, Doha Bank met company finance requirements with competitive terms Also Considering this is a startup company and as such requires lot of guidance / hand holding by financing bank, this assistance was provided by SME Team.
Doha Bank firmly believes that today’s our success stories will encourage other SME customers to approach Doha Bank for their financing requirements. Doha bank offers various products in order to service long term capital requirements of the customers in addition to short term working capital financing. Doha Bank also offers ancillary services and products like Electronic banking, Cash Management Services, Insurance products, etc. Doha bank has been providing solutions to SMEs rather than just offering products.
Doha Bank is having a full-fledged SME team with expertise in relationship management, solution providing and credit skills. Doha Bank have been very supportive of SMEs and are helping them to be ready for the times ahead by way of providing financing with the help of innovative products and services for their commercial activities.
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, nursery, health clinics, 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/ best of the eating places / education/ health care.