DOHA: Qatar Development Bank (QDB) has launched the SME Rating and Accreditation Programme to assist entrepreneurs and SMEs to capitalise on contracting opportunities and in improving their business processes.
“This programme is an important pillar in the system of support that we offer to small and medium companies, which enhances our efforts in support the efficiency of the Qatari national economy and its diversity and underscores our commitment to contribute to the achievement of Qatar National Vision 2030,” said Executive Director of QDB Advisory Hamad Al Kubaisi.
As per the new Tender Law No 24 of 2015, a law regulating tenders and auctions in Qatar, QDB have taken initiative to Localise the supply chain and support local SMEs through SME Rating & Accreditation (SRA) and Tender Bond Exemption Service to reduce Qatar’s value leakage and progress towards sustainable industrial development approach which will enable local SMEs to enhance their capabilities and assist in building of a knowledge-based economy to achieve the Qatar National Vision 2030. Through the implementation of the new program, QDB aims to help SMEs gain access to government, semi-government and private business opportunities. Through the rating process, SMEs will also be able to understand internal gaps and challenges related to their business and institute required improvements, enhancements and interventions to enhance their business performance, requisitely supported by QDB through its suite of programs. This program is one of the cornerstones of QDB’s support to SMEs.
The SME Rating and Accreditation will be an independent third party certification issued by QDB.
The main objective of the SME Rating & Accreditation (SRA) is to conduct a holistic analysis of the business entailing an assessment of the business model, the management, industry and the financials of the business through Rating and a more specific assessment of the business’ ability to deliver on contracts, where requested/needed, through Accreditation, he added.
The Peninsula
DOHA: Qatar Development Bank (QDB) has launched the SME Rating and Accreditation Programme to assist entrepreneurs and SMEs to capitalise on contracting opportunities and in improving their business processes.
“This programme is an important pillar in the system of support that we offer to small and medium companies, which enhances our efforts in support the efficiency of the Qatari national economy and its diversity and underscores our commitment to contribute to the achievement of Qatar National Vision 2030,” said Executive Director of QDB Advisory Hamad Al Kubaisi.
As per the new Tender Law No 24 of 2015, a law regulating tenders and auctions in Qatar, QDB have taken initiative to Localise the supply chain and support local SMEs through SME Rating & Accreditation (SRA) and Tender Bond Exemption Service to reduce Qatar’s value leakage and progress towards sustainable industrial development approach which will enable local SMEs to enhance their capabilities and assist in building of a knowledge-based economy to achieve the Qatar National Vision 2030. Through the implementation of the new program, QDB aims to help SMEs gain access to government, semi-government and private business opportunities. Through the rating process, SMEs will also be able to understand internal gaps and challenges related to their business and institute required improvements, enhancements and interventions to enhance their business performance, requisitely supported by QDB through its suite of programs. This program is one of the cornerstones of QDB’s support to SMEs.
The SME Rating and Accreditation will be an independent third party certification issued by QDB.
The main objective of the SME Rating & Accreditation (SRA) is to conduct a holistic analysis of the business entailing an assessment of the business model, the management, industry and the financials of the business through Rating and a more specific assessment of the business’ ability to deliver on contracts, where requested/needed, through Accreditation, he added.
The Peninsula
