Seetharaman and a top QDB official shaking hands after announcing the new SME funding initiatives.

Doha Bank has launched new financing options for small and medium enterprises (SMEs) under Qatar Development Bank’s Al Dhameen programme, a move that ought to enhance liquidity in the private sector and provide increased credit flows to the SME sector.
Doha Bank has offered a complete range of SME products and services including working capital financing, trade finance services, consultancy services and electronic banking services under QDB’s Al Dhameen, through which SMEs and startups in Qatar can receive capital financing up to QR15mn.
Any Qatari small and medium enterprise or joint venture whose annual turnover does not exceed QR30mn can apply for finance from Doha Bank under the Al Dhameen programme. For existing companies, Al Dhameen guarantees of up to 75% of the unsecured outstanding principal are issued, whereas for startups, companies less than three years old that are 51% Qatari-owned are eligible for guarantees of up to 85% of the loan amount.
“The Al Dhameen program marks a milestone in the development of the SME sector in Qatar, providing medium and long-term financing options that have enabled businesses across an array of industries to succeed and flourish. Doha Bank’s active participation under this initiative will further catalyse growth in the SME sector, which forms a fundamental part of Qatar’s economy,” Dr R  Seetharaman, CEO of Doha Bank, said.
Highlighting that last year, Doha Bank managed to garner about 20% share of the Al Dhameen guarantees issued by QDB, he said. “We remain determined to continue meeting the financing requirements of SMEs in order to facilitate their journey towards the next stage of growth and contribute to Qatar’s diversification agenda.”
All these projects will not only generate local employment but will also enable consumers to meet their consumption demands from these locally produced products. Such projects help the country to reduce its reliance on Oil & Natural Gas based industries and to bring the know-how to the country’s doorsteps.
Demonstrating its commitment to the success of SMEs, Doha Bank recently financed eight new projects under the Al Dhameen program, with total outlay on the projects exceeding QR70mn.