QDB, GRSIA launch 3rd stage of ‘Khatwa’ to support retirees

Qatar Development Bank (QDB) and the General Retirement & Social Insurance Authority (GRSIA) have launched the third stage of ‘Khatwa’, a joint initiative that aims to build and develop the skill set of retirees, encouraging nationals to launch their own SME projects and transform their business ideas into successful enterprises. To facilitate the programme, both organisations will appoint a committee to coordinate between the retirees and QDB. The committee will provide QDB with details of registrants, while the bank will sponsor the activities of the committee, including workshops and training sessions. QDB CEO Abdulaziz bin Nasser al-Khalifa said, “Khatwa has experienced tremendous success since its launch two years ago. Today, we are taking the initiative into the third year in a row. Through this programme, QDB is giving retirees tangible tools and approaches to improve their participation in the marketplace but also experience active ageing. A socially-invested population of Qatar, whether young or old, is the driving force of the Qatar National Vision 2030.”Sultan al-Kuwari, director of training and development at QDB, added, “We plan to implement the third stage of the programme at two levels and tailored to the varying needs of participants. The first category will benefit individuals who have graduated from a public high school and below. The workshops for these participants will simplify the complexity of running a business and run for 16 weeks. The second category is directed at those university graduates and above who have existing knowledge of the English language. These workshops will run for 12 weeks.”According to officials, the number of participants in each category range from 20 to 30 individuals, who will be selected by the GRSIA. Khalifa al-Khulaifi, director of retirement department at the GRSIA, said, “The launch of the third stage confirms our success in establishing a successful community partnership, aimed at supporting retirees by developing their ideas and turning them into concrete economic programmes as well as helping them find financing channels for their own projects.“We strive to build bridges of communication with various parties that can provide sufficient support to retirees, ones that allow them to meet their business goals. A successful example of this effort is the implementation of the first and second stage of the ‘Khatwa’ initiative, with the journey being continued to the third stage.”The initiative will be implemented this month and registration for the public will be opened for two weeks. Registration can be completed on the websites of QDB and the General Retirement & Social Insurance Authority.Following this, the registrants will be selected and screened by the newly-formed committee. Selection will be based on several criteria: age, years of experience, and the viability of applicant’s proposed project. In addition to submitting a pre-feasibility study for the proposed project, attendance to workshops will demonstrate an applicant’s commitment and will be a key part of determining eligibility to funding. Upon completion of the training programme, QDB will grant the top five applicants access to offices at the Qatar Business Incubation Centre to begin establishing their projects, while the rest of the applicants will have the opportunity to obtain necessary finance.