Doha Bank has received the ‘Best Partner Bank’ award from Qatar Development Bank (QDB) for supporting small and medium-sized enterprises (SMEs) under the Al Dhameen Programme.
In a statement, Doha Bank said SMEs are the primary component of liberal economy and social stability. SMEs not only contribute to output, fulfill social objectives, attract considerable foreign reserves into a country but also have a clear importance in providing employment; they are the backbone of the private sector all over the world which drives the impact to a sustainable economy.
Doha Bank said it recognised this opportunity, and is a pioneer in appreciating the importance of the “very critical role” being played by SMEs in the development of Qatar’s economy. Doha Bank was the first to launch ‘Tatweer’, a dedicated SME unit in 2008.
Doha Bank has been further recognised by QDB through the ‘Best Partner Bank’ award for exposure growth under its Al Dhameen Programme.
QDB CEO Abdulaziz bin Nasser al-Khalifa said, “Doha Bank has demonstrated consistent commitment to supporting the growing SME scene through their collaboration with QDB on Al Dhameen Programme.
“QDB values our partner banks for the key role they play in empowering Qatar’s private sector and this award is a token of appreciation for all their efforts. I would like to congratulate them for this deserved win and I look forward to more of these successful collaborations in the future.”
Speaking on the occasion, Doha Bank CEO Dr R Seetharaman thanked al-Khalifa for recognising the efforts of Doha Bank, and assured continuous support for the Al Dhameen Programme and other programmes of QDB.
Doha Bank chief whole sale banking officer Ala Azmi Abumughli said, “Doha Bank will continue to support SMEs and is further committed to develop innovative financial solutions and services, as we believe SMEs have bigger role in economic, social, ecological development of the country.”
Atul Kinra, head of SME, said: “We firmly believe that our customer’s success stories will encourage other SME customers to approach Doha Bank for their financing requirements and services.”
Doha Bank is one of the key partners in QDB’s ‘Al- Dhameen’, a credit guarantee programme that also covers startups, particularly in the field of manufacturing and service sector.
Doha Bank’s has demonstrated its long term commitment to the success of SMEs by supporting diverse and new projects under ‘Al-Dhameen’ credit guarantee programme, such as setting up a dental clinic employing the most advanced equipment, bitumen processing factory, cafes, schools, health clinics, high-end furniture factory, gymnasium, wooden factory, and steel fabrication, among others.
All these projects will not only generate local employment but will also enable domestic consumers to meet their demands from these locally produced products, Doha Bank said.
Recently, one of Doha Bank’s SME customers, Middle East Modified Bitumen Company (Membco), which is financed by Doha Bank in partnership with QDB under the ‘Al Dhameen’ scheme, was awarded the ‘Qatar Entrepreneurship Award – Rowad Qatar 2019’, while the ‘Best Relationship Manager’ award was given to Doha Bank SME relationship manager. Last year, Doha Bank’s seven SME customers were recognised in the ‘SME Excellence’ award of QDB.