Qatar Development Bank (QDB) has won the ‘Best SME Loan’ award during the Arab Banks Awards and Commendations of Excellence 2017 in recognition of its “leading position” in creating a series of direct and indirect financial assistance programmes for small and medium-sized enterprises (SMEs).
The award ceremony, organised by the World Union of Arab Bankers in Beirut, was attended by senior bankers, business community representatives, and banking sector magnates from various regional and international financial institutions.
In appreciation of the efforts made in financing and developing SMEs, the World Union of Arab Bankers, represented by its chairman Dr Joseph Torbey and secretary general Wissam H Fattouh, delivered the honorary shield to QDB.
QDB CEO Abdulaziz bin Nasser al-Khalifa said: “We are proud of this award, which underscores Qatar Development Bank’s regional and international excellence in the financing and development of SMEs.
“Increasingly, due to the development of the right type of support programmes, our Qatari companies are beginning to find their rightful place alongside larger, more global companies, and this achievement strengthens our belief that we are on the right track. One case-in-point of a financial programme we have developed, which is at the forefront of our SME empowerment strategy, is Al Dhameen, which today, has a portfolio of QR1.224bn.”
He added: “The winning of this award is a resounding confirmation that our assistance is truly benefiting SMEs, which are a strength for our national economy, and presently, are on their way to becoming one of the main sources of national income diversification, in line with the objectives outlined in the Qatar National Vision 2030.”
In 2016, QDB’s Al Dhameen programme was awarded ‘Best Financing Programme for SMEs in the GCC’, a recognition awarded to institutions and banks that contribute to the financing of value-added projects for the national economy.
As an institution, QDB was named the ‘Best Development Bank’ during the Banker Middle East Industry awards. Notably, the International Trade Centre (ITC), a joint agency of the World Trade Organisation (WTO) and the United Nations Conference on Trade and Development (Unctad), recently nominated QDB for the 2016 Trade Promotion Organisation (TPO) award under the category of the best development agency in a developing country.
Incidentally, QDB was the sole development agency shortlisted from among the countries in the Gulf Cooperation Council (GCC) and Middle East and North Africa (Mena) region.
To promote the private sector, QDB extends wide-ranging financial and non-financial support to entrepreneurs across a myriad of industries. During the year 2016, its total direct financing amounted to QR6bn, while the portfolio of its indirect financing service stood at QR1.224bn.
QDB also recently launched its Seed Fund Investment Programme, which is the first of its kind in the Gulf region. The investment programme is designed to assist entrepreneurs and their projects by providing financing, sharing capital, risks and profits, thus alleviating the financial burden on emerging local companies.
Al-Khalifa: Great honour.
