Download app

 

QIB wins "Best Portfolio Growth" at QDB's 2018 "Best Partner Bank"s Award for supporting SMEs in Qatar
Back to All News Updates

QIB wins "Best Portfolio Growth" at QDB's 2018 "Best Partner Bank"s Award for supporting SMEs in Qatar

10/09/2018, Doha,Qatar

QIB wins "Best Portfolio Growth" at QDB's 2018 "Best Partner Bank"s Award for supporting SMEs in Qatar

Qatar Islamic Bank (QIB), Qatar’s leading Islamic Bank, has won the “Best Portfolio Growth” award that Qatar Development Bank (QDB) honored for banks during the ‘Best Partner Bank’ award ceremony for supporting small and medium-sized enterprises (SMEs) through QDB’s Al Dhameen Programme.

QIB’s Group CEO Bassel Gamal received the award from Qatar Central Bank Governor and QDB Chairman Sheikh Abdullah bin Saud al Thani during an award ceremony attended by QDB executives and senior officials from banks participating in Al Dhameen program.

"We are proud of our partnership with QDB to support SME's and entrepreneurs as an important sector in the Qatari economy," said Bassel. "Qatar turns special attention to this sector as it works to diversify the economy based on the 2030 National Vision."

He said that QIB is a strong supporter of the Al Dhameen program, noting that the program's portfolio has markedly grown. "Our strong contribution to this program reflects our belief in its importance as a vehicle to support SME's and create added value in the industry, health, education, and service sectors," he said.

Bassel concluded: "As the leading Islamic bank in the country, QIB offers direct finance solutions to SME's. Financing this sector is a priority for our bank, which also launched “Aamaly”, a dedicated program to meet the banking needs of SME's in Qatar in a holistic manner."

QIB is a key partner in projects supporting SME's. The bank signed a memorandum of understanding with QDB early in 2017 to finance Jahez, a developmental initiative, as part of Al Dhameen indirect financing facility program. The agreement is supporting SME's in Qatar and promoting industrial sectors, such as chemicals, plastic, wood materials, and electronics. The MoU provides SMEs participating in the Jahiz initiative with access to finance up to 70% of the project value, with a maximum limit of up to QR15mn per project.

Back to All News Updates