H E Sheikh Abdullah bin Saud Al Thani (second right) and Abdulaziz bin Nasser Al Khalifa (left) with top officials of the winning banks during Al Dhameen Program Best Partner Bank award ceremony yesterday. Pic: Baher Amin/ The Peninsula
Qatar Development Bank (QDB) yesterday held an awards ceremony to recognise the contributions of participating banks that have supported the development of the organisation’s Al Dhameen indirect loan facility programme. The ceremony was held at the Al Daibel Hall, at the Four Seasons Hotel, in the presence of Chairman of QDB, H E Sheikh Abdullah bin Saud Al Thani, who is also the Governor of Qatar Central Bank (QCB); Chief Executive Officer (CEO) of QDB, Abdulaziz bin Nasser Al-Khalifa; as well as the executive leadership and top management of participating banks.
During the presentation, 3 partner banks were awarded the “Best Partner Bank” titles after having successfully met the criteria set by Al Dhameen program in recognition of their uniquely outstanding support in financing small and medium-sized enterprises (SMEs) across Qatar. One core component of the criteria involved the undertaking of a client poll, which had scales evaluating the services provided by partner banks to customers. The responses were averaged to determine an overall rating of the partner bank.
Commenting on the ceremony Abdulaziz bin Nasser Al-Khalifa said: "Our organization of the very first Best Partner Bank Awards stems from our firm belief that the strong role – played by participating partner banks – in supporting the growth of Al Dhameen deserves a rich accolade. Due to the support of participating banks, the Al Dhameen program has grown considerably since its launch in 2010, helping scores of entrepreneurs overcome the most critical challenge to all SMES: lack of access to finance. Thanks to Al Dhameen partner banks, SMEs can now go on unhindered to positively impact the Qatari society and economy with their wealth of creative business ideas.”
He continued: "Importantly, the sectors that have been funded through the Al Dhameen indirect loan facility program are critical to nation’s diversification push, as outlined in the Qatar National Vision 2030. These include the manufacturing, healthcare, education, tourism and value-added services sectors.”
Executive Director of Business Finance, QDB, Khalid Al-Mana said: "Since we first undertook the Al Dhameen journey seven years ago, the number of supporting organizations has grown to today include 14 partner banks. This expansion confirms the confidence that the success of the Al Dhameen program has inspired across the country, and it is worth mentioning that in 2016, the program’s portfolio grew to QAR 1.4 billion. Notably, this year, the Al Dhameen program granted approximately QAR 366 million in loans and reached 110 SMEs in Qatar.”
The winning partner banks were selected this year in accordance with stringent criteria set by QDB, including a questionnaire that was completed by program clients. The evaluation was based on the partner banks’ capabilities in terms of legal and technical support as well as the speed with which it overcame obstacles facing customers.
The Best Partner Bank Award ceremony this year comes as the latest in a series of initiatives, programs and activities organized by QDB to contribute to the growth of SMEs, in line with the Qatar National Vision 2030, to diversify the sources of national income, stimulate the private sector and develop a knowledge-based economy
