Doha, Qatar: Qatar Development Bank (QDB) on Monday launched the National Funding Gate (TAMKEEN), a unified digital platform for business financing in Qatar.
The platform brings together the nation's leading financial institutions under one roof, offering an integrated solution that simplifies access to financing for Qatar-based companies, QDB highlighted in a statement today.
The initiative aligns with Qatar National Vision 2030 to build a competitive and dynamic local business ecosystem.
In addition, TAMKEEN will serve as the central hub for companies seeking financing to support their growth. It digitally connects applicants with participating national banks, reducing time and effort, while enabling banks to reach a wider range of potential clients.
The initiative represents a strategic partnership between QDB and key players in Qatar's financial sector, fostering innovative financing solutions that strengthen the overall business environment.
QDB also announced the launch of the Credit Guarantee Program, a revamped version of "Al Dhameen" program, which issues guarantees to partner banks providing financing to Qatar-based companies.
The program, which is now fully integrated into the National Funding Gate, encourages banks to fund local projects and businesses.
At the launch ceremony, Chief Executive Officer of QDB, Abdulrahman bin Hesham Al Sowaidi emphasized the importance of this milestone and remarked: "We are confident that this platform will mark a transformative leap in the efficiency and quality of business financing in Qatar. It stands as a model of integration and partnership between the financial sector and the business community, supporting sustainable development and economic diversification. Through this initiative, we are advancing a resilient, dynamic, and competitive knowledge-based economy led by the private sector".
"We have been working to develop the Credit Guarantee Program to support risk-sharing with partner banks. We will be allocating an initial amount of QAR 3 billion for the program. This is in response to the evolving needs of the business ecosystem and a broader range of customers, which will positively impact Qatar's economic performance", he added.
Overall, TAMKEEN embodies a unified national vision and a coordinated effort among leading financial and governmental institutions.
Its development was overseen by QDB, under the guidance and leadership of Qatar Central Bank, and after coordinating with partner national banks, all with the shared goal of supporting the private sector and expanding financing solutions for businesses in Qatar.
QDB continues its mission to empower Qatar's private sector, enhancing its resilience and productivity. QDB remains committed to enabling entrepreneurs and innovators to launch and grow their businesses, helping them compete, contribute to Qatar's economic development, and drive national progress.
