QDB and Doha Bank Sign Al Dhameem Pact

Doha, July 05 (QNA) - Qatar Development Bank (QDB) and Doha Bank have signed a new Al Dhameem programme agreement, the QDB announced Sunday. QDB Chief Executive Officer Abdulaziz Bin Nasser Al Khalifa and Doha Bank CEO Dr R Seetharaman signed the agreement that further expands financing of Small and Medium Enterprises (SMEs) in Qatar. With QR100 Million outlay, the new product 'Al Dhameen portfolio' aims to speed up approvals to guarrantee the value of the funding provided by the partner bank to SMEs lacking sufficient guarantees. QDB has prepared a special portfolio guide describing the terms, conditions, highest international standards, due diligence, credit monitoring, applications and guidelines development, to help Doha Bank to take the necessary decisions without referring to the QDB. Developing the content took nearly two years of close co-operation between QDB and partner banks to cater to all needs and increase transparency, QDB said. Commenting on the agreement, Abdulaziz Bin Nasser Al Khalifa said, "Al Dhameen programme ensures Qatari SMEs are capable of overcoming obstacles, guarantees and short credit history. "It also facilitates financing procedures of important sectors such as industry, education, healthcare, and added-value services. "The programme targets companies and start-ups. We are delighted with this partnership with Doha Bank that asserts all banks operating in Qatar support and develop SMEs sector, diversify private sector and build a knowledge-based economy." (QNA)