tag

Qatar and Finland are building structural links between their small and medium-sized enterprise (SME) and startup ecosystems, leveraging global innovation hubs like Slush in Helsinki and Web Summit Qatar in Doha to accelerate trade and venture capital flows.The initiative involves collaborative efforts between the Qatar Research and Development and Innovation (QRDI) Council and Business Finland, establishing a framework to build research, development, and innovation ties across key growth sectors, Finnish ambassador Juha Mustonen told Gulf Times Tuesday.Mustonen said diplomats are exploring pathways to connect Qatari and Finnish business networks, starting with delegation exchanges across both flagship tech gatherings.“Slush is Finland’s major startup conference. The embassy recently discussed how to strengthen connections between Qatar’s and Finland’s business ecosystems. One possible starting point would be to bring a delegation of Qatari small and medium-sized enterprises and investors to Slush, followed by a delegation to an event such as Web Summit. These are two platforms we should explore, and I’m very excited about taking this cooperation forward,” Mustonen said.The cross-border initiative comes as Finland pushes aggressive targets to expand its national R&D infrastructure.Under-Secretary of State and Deputy Minister for International Trade of Finland Jarno Syrjälä also said Finland plans to allocate 4% of its GDP to research and development by the end of this decade, with SMEs and early-stage ventures driving much of that output.Syrjälä emphasised that Finland’s startup ecosystem offers practical lessons for Qatar as both nations cultivate local talent and scale high-tech ventures.“Finland has a very strong ecosystem, particularly when it comes to startups, and continues to invest heavily in research and development. Our goal is for R&D spending to reach 4% of GDP by the end of this decade. Much of this work is carried out by small and medium-sized companies that begin as startups. We hope they will scale up and eventually become major players,” Syrjälä explained.Syrjälä also highlighted Slush as a primary engine for founder-investor deal-making. “It’s currently the largest event of its kind in Europe, bringing together people to discuss future cooperation. Last year, 14,000 participants from around the world attended, creating opportunities for investors to connect with startups as well as with one another,” Syrjälä noted, pointing to Web Summit Qatar as a similar event capable of generating cross-border collaboration.“The idea is the same for both events, and I believe we can cooperate, learn from each other, and connect the right people,” he continued.Beyond venture building, Syrjälä identified deeptech, 5G and emerging 6G connectivity, artificial intelligence (AI), quantum computing, satellite technologies, and education as key strategic pillars for Qatari-Finnish commercial collaboration.“Our equation is straightforward: we invest heavily in research and development, and then in education to create the right environment for innovation. Communication is a critical area, particularly as digitalisation accelerates and becomes even more important.“The transition to 5G—and eventually 6G—is already underway, and Finnish companies are active participants in these developments. At the same time, artificial intelligence is transforming every sector, alongside advances in quantum computing and satellite technologies,” Syrjälä pointed out. 

QIB was named ‘Qatar’s Best Bank’, ‘Qatar’s Best Digital Bank for Consumers’, and ‘Qatar’s Best Bank for SMEs’ at Euromoney Awards for Excellence 2026, reaffirming its leadership, strong performance, and continued commitment to digital innovation and supporting customers across key segments.QIB Chief Strategy and Digital Officer Constantinos Constantinides received the awards for on behalf of QIB at a ceremony held in Dubai.The recognitions reflect QIB’s strong financial performance, operational efficiency, and customer-centric strategy, alongside its continued leadership in digital banking and commitment to supporting Qatar’s SME sector.QIB continues to enhance its digital ecosystem with innovative solutions and a mobile app offering more than 320 features and services, while providing small and medium-sized enterprises with a comprehensive range of Shariah-compliant financial and digital solutions.Together, the three awards highlight QIB’s ability to combine financial strength, innovation, and exceptional customer experiences while contributing to Qatar’s economic growth and diversification.

Qatar’s small and medium-sized enterprise (SME) sector faces an operational gap driven by a mismatch between immediate liquidity needs and conventional lending products rather than a broader capital shortage, an industry expert noted. PayLater chief executive Dr Devid Jegerson told Gulf Times that while exact national figures remain difficult to quantify, the operational friction across retail networks is clear. He said retail businesses typically require 30 to 90 days of working capital to bridge seasonal inventory cycles. Standard bank offerings consist of multi-year facilities that demand collateral and take weeks to underwrite, he continued. Jegerson explained that because these financial products do not match short-term requirements, many viable small businesses run working capital through personal resources, supplier credit, or informal loans. This reliance, he pointed out, caps growth across key domestic market segments. According to Jegerson, this gap affects independent merchants who possess real revenue and transaction histories but lack the three years of audited financial statements required by traditional credit risk models. Traditional underwriting frameworks view these merchants as unbankable; alternative credit models anchored in daily transaction flow prove their creditworthiness, noted Jegerson, who added that addressing this group represents the largest commercial opportunity in Qatari financial services. “Under a traditional model, they are unbankable. Under a data-driven model built around transaction flow, they are entirely creditworthy. That gap, between institutional invisibility and actual creditworthiness, is the largest single opportunity in Qatari financial services, and it is materially underserved,” he explained.He said e-commerce businesses encounter similar structural obstacles. As one of the fastest-growing commercial segments, digital enterprises fit legacy bank underwriting criteria least effectively, he said.According him, closing the national SME financing gap over the next few years requires progress across three areas: credit infrastructure must be calibrated specifically around local population dynamics; regulatory clarity on data portability is needed to allow a merchant’s transaction history to move seamlessly between providers with their consent; and capital structures must also evolve to support high-velocity, short-duration funding. He stressed that implementing these adjustments requires no new technological tools. He said progress depends on coordination among regulators, banking institutions, and fintech platforms. Qatar maintains an advantage in resolving these bottlenecks due to the close-knit nature of its business ecosystem, allowing key decision-makers to convene quickly to drive innovation, he said. “None of this requires new technology. All of it requires coordination between regulators, banks, and fintechs, which is precisely the kind of challenge Qatar is well configured to solve, because the relevant parties can be in the same room within a week,” Jegerson added.

Qatar Islamic Bank (QIB) has launched the new version of its Corporate App, introducing a new user experience and enhanced functionality to help Corporate and SME customers manage their banking needs more efficiently. The launch reflects QIB’s ongoing commitment to investing in innovative digital solutions that simplify banking for businesses while providing greater convenience, accessibility, and control. The enhanced Corporate App features a completely new user interface, making navigation more intuitive and enabling users to access key banking services faster and more efficiently. The new version is available in Arabic and English, allowing customers to conduct their banking activities in their preferred language and further enhancing accessibility for businesses across Qatar. Designed around customer feedback and evolving business needs, the new app streamlines access to a wide range of banking services and provides an improved digital experience for authorised users responsible for initiating, reviewing, and approving transactions. Through the QIB Corporate App, customers can manage accounts, finance and cards, perform local and international transfers, make payments, approve transactions, monitor corporate deposits, access account information, and submit service requests anytime and from anywhere. Tarek Fawzi, QIB general manager – Wholesale Banking Group, said: “The launch of the enhanced QIB Corporate App represents another important milestone in our digital banking journey. Businesses today expect banking services that are not only secure and reliable, but also intuitive and efficient. “The new app has been designed to help our Corporate and SME customers manage their banking activities with greater ease, while maintaining the robust controls and security standards required by modern businesses.” He added: “As Qatar’s leading digital bank, we remain committed to continuously enhancing our digital channels and delivering innovative solutions that support our customers’ growth and evolving banking needs. The new Corporate App reinforces our vision of providing an easy banking experience across every customer touchpoint.” The QIB Corporate App is available on App Store and Google Play to customers registered for QIB Corporate Internet Banking and can be accessed using existing login credentials.For further information, visit www.qib.com.qa 

Qatar Islamic Bank (QIB) has been recognised as the ‘Best SME Bank in the Middle East and Qatar’ by Global Finance as part of its 2026 Best SME Banks Awards.The recognition cements QIB’s position as a key financial partner for small and medium-sized enterprises (SMEs), reflecting its continued role in supporting economic diversification, private sector growth, and financial inclusion in Qatar and across the region.Reinforcing its leadership in SME banking and digital innovation, QIB continues to offer a comprehensive, Shariah-compliant value proposition tailored to the evolving needs of businesses.The bank provides a wide range of integrated financial and digital solutions, including the service to request opening an account electronically through the website, alongside enhanced capabilities across its Corporate mobile app and Corporate Internet Banking platforms.Building on its digital leadership, QIB enables SMEs to access a comprehensive suite of banking services seamlessly through its Corporate Internet Banking platform and Corporate mobile app, available 24/7.Businesses can efficiently manage accounts and liquidity, execute local and international payments and transfers, including Fawran, and handle payroll and WPS services with ease. With full visibility and control over transactions, cards, and service requests, QIB’s digital solutions ensure uninterrupted banking and support the efficient management of day-to-day business operations.QIB also offers co-branded corporate credit cards in collaboration with Ooredoo, in addition to a full suite of payment acceptance solutions, including POS machines, Payment Gateway services, and the SoftPOS app, enabling businesses to efficiently manage collections and cash flow.Complementing its digital offerings, QIB supports SMEs through dedicated relationship management, personalised financial advisory, and sector-focused solutions, aligned with the objectives of Qatar National Vision 2030.Tarek Fawzi, general manager – Wholesale Banking Group, said: “Supporting SMEs remains a strategic priority for QIB, given their vital role in driving economic growth and diversification. We are committed to delivering innovative, Shariah-compliant solutions supported by advanced digital capabilities, expert advisory, and strong ecosystem partnerships, enabling businesses to grow and succeed with confidence.“This recognition from Global Finance reflects the trust our customers place in us and the dedication of our team. We will continue to enhance our SME offering and contribute to the development of a dynamic and resilient business environment.”Global Finance’s Best SME Banks Awards recognise financial institutions that demonstrate leadership, innovation, and excellence in supporting SMEs. QIB’s recognition as the ‘Best SME Bank in Qatar’ is a testament to its success in delivering customer-centric financial solutions that meet the specific needs of Qatar’s SME sector.For more information, please visit www.qib.com.qa.

Qatar Chamber and the Qatar Association of Certified Public Accountants (QCPA) recently signed a memorandum of understanding (MoU) to enhance co-operation in several key areas.  The MoU aims to increase collaboration in projects and events that support and develop company members, entrepreneurs, small and medium sized enterprise (SME) owners, and other stakeholders.  The agreement was signed by Dr Sultan bin Hassan al-Dhabet al-Dosari, QCPA chairman, and Ali Bu Sherbak al-Mansouri, acting general manager of Qatar Chamber. The MoU includes training and advisory services provided by QCPA, such as certified tax specialist courses, specialised professional diploma programmes, and training workshops aimed at enhancing the skills and efficiency of targeted groups.  Al-Dosari noted that the MoU supports QCPA’s mission to strengthen professional and scientific cooperation with state institutions and relevant entities. He said QCPA is focused on developing the accounting and auditing profession in Qatar through specialised activities and enhanced local and international engagement.  Al-Mansouri said the MoU aims to strengthen cooperation with QCPA in training-related fields, contributing to the enhancement of workforce efficiency within the private sector. He added that the chamber will provide training halls for joint programmes approved by both parties and will cooperate in implementing projects and programmes of mutual interest.

Qatar Islamic Bank (QIB) has been named ‘Islamic Bank of the Year in Qatar’, ‘Best Islamic Retail Bank in Qatar’, ‘Best Islamic SME Bank in Qatar’, and ‘Islamic Wealth Management of the Year in Qatar’, at The Asset Triple A Islamic Finance Awards 2025, underscoring its continued leadership across all banking segments.QIB was recognised as ‘Islamic Bank of the Year in Qatar’ for its strong financial performance, market leadership, and innovation. In the first nine months of 2025, the bank delivered a net profit of QR3.45bn in the nine months of 2025, representing a growth of 5.38% over the same period in 2024 and maintaining nearly half of the Islamic banking market share, underscoring its disciplined strategy and focus on sustainable growth.The bank was also awarded the ‘Best Islamic Retail Bank in Qatar’, reflecting its exceptional performance and commitment to customer service. Over the past year, QIB has made remarkable progress in enhancing its digital offerings, revolutionising both customer interactions and internal operations.The bank’s relentless focus on digitalisation has resulted in significant benefits for its diverse stakeholders. Over 83% of customers now bank digitally, and more than half of retail sales are completed via the award-winning QIB Mobile App. With over 320 integrated features, the app enables seamless onboarding, financing, card issuance, and lifestyle services, including the Marketplace and Auto Marketplace, Qatar’s first digital platforms offering customers services beyond traditional banking. Innovations such as the Click-to-Pay service and the Carbon Emission Tracker reflect QIB’s commitment to digital inclusion and climate-conscious banking.The accolade of ‘Best Islamic SME Bank in Qatar’ highlights QIB’s customer-centric approach and commitment to enabling Qatar’s small and medium-sized enterprises. Through a suite of tailored, Shariah-compliant digital solutions, including digital onboarding, Corporate Internet Banking, the QIB Corporate app, and co-branded credit cards with Ooredoo, QIB has simplified business banking. The bank also offers a comprehensive range of payment services such as POS terminals, Payment Gateway, and QIB SoftPOS, empowering SMEs to manage finances, improve liquidity, and scale sustainably.The ‘Islamic Wealth Management of the Year in Qatar’ highlights QIB’s ability to offer highly personalised, relationship-led services rooted in Islamic principles. Each customer benefits from a dedicated relationship manager who crafts tailored financial strategies aligned with personal goals and risk tolerance. The bank offers a full suite of services, including bespoke investment solutions, financing, estate planning, and exclusive access to premium investment opportunities.Bassel Gamal, QIB Group CEO, said: “We are pleased to receive these awards, which reflect our commitment to growth, innovation, and customer empowerment. Supported by our strong financial performance in the first nine months of 2025, these recognitions are a testament to the dedication of our team to deliver world-class Shariah-compliant solutions, the support of our board of directors, as well as the trust and loyalty of our customers.”Marking its 25th anniversary, the Asset Triple A Islamic Finance Awards is highly regarded within the financial sector as one of the most prestigious recognition programs, celebrating institutions that exemplify outstanding performance in Islamic banking.