DOHA: QNB, the region’s biggest lender, stressed its commitment to supporting SMEs in Qatar, as well as its support of all manner of logistic and industrial projects that will diversify the country’s economy and enhance the competitiveness of its private sector.
QNB has always been keen on having a strong presence as a key supporter of the rapidly growing Qatari logistics sector. The Bank recently signed a memorandum of understanding with the Logistics Committee of the Ministry of Economy and Commerce and Manateq for one of the largest government projects in these economic sectors, focusing on three areas: South Al Wakra, Birkat Al Awamir, and Aba Salil. The project aims to reduce investors’ operating costs and improve their productivity.
QNB continues to support SMEs through introducing many products that offer suitable solutions to business owners who wish to expand their businesses or start new, creative ventures. The bank paid special interest to the industry, tourism, healthcare, and education sectors, by launching various products and offers to encourage investment in these sectors, since they are some of the most important sectors for the realisation of the 2030 national vision.
Yousef Al Neama (pictured), QNB’s General Manager – Group Corporate and Institution Banking, said : “At QNB Group, we aim to maintain our standing as a key supporter of the projects that serve the private sector and enhance its competitiveness, so that it can play its part in the development process. We are proud, being the biggest bank in Qatar, to participate in the sustained economic development process in line with Qatar’s 2030 national vision.”
Al Neama added: “We invite everyone to avail QNB’s special operating capital financing, loan refinancing, and other creative products recently launched by the Group in line with its vision to encourage Qatari startups and entrepreneurs, who will contribute greatly toward the creation of a successful national workforce with a clear future outlook.”
For example, the manufacturing sector can avail any number or group of financial products. The finance options available cover equipment, infrastructure loans, business buy out, vehicle loan and lease , working capital, raw material and refinancing of existing term loans or working capital.
The financing for government supported projects includes the development of the logistic zones, as well as warehouse, labour city, and food security projects among others.
To set up and support a company’s operations in the tourism and leisure industry, QNB offers SME financing in the areas of asset finance, tourism premises, business buy-out, vehicle loan and lease, working capital and refinancing of existing term.
Support of SMEs in the medical and healthcare sector, will see QNB offer medical equipment, medical facility loan, healthcare buy-out, vehicle loan and lease, medical transportation, working capital and refinancing of existing term loans or working capital finance.
Another important and integral part of the comprehensive product offer is the availability of the QNB Credit Card for SMEs. Through this card, SME’s can manage and control their day to day business expenses in a convenient and easy way. QNB launched the first SME online portal in partnership with Enterprise Qatar and Thomson Reuters. This will further strengthen the “One Stop Shop” service concept being promoted across a diverse range of economic sectors. QNB is also the main supporter of QDB’s Al-Dhameen SME programme.
The Peninsula
