World Business and Economic Analysis
The meeting started with an introductory speech by the bank’s CEO, Dr. R. Seetharaman who underlined the role played by Doha Bank in supporting SMEs in Qatar, in line with Qatar National Vision (QNV), 2030. SMEs are expected to play an important role in supporting Qatar’s diversification and hence various initiatives have been proposed by QDB to stimulate them. Doha Bank would be looking forward to participate in Qatar’s diversification story by encouraging the SME Sector. The SME Sector will play a key role in Qatar’s Sustainable development.”
He also said that ‘Doha Bank already enjoys a sizeable SME customer base & a strong corporate and retail business franchise with branch presence across the country to meet customers growing requirements.’
‘At Doha Bank, we know that doing business in today's economic climate is challenging - and that situations and business needs can change overnight’, is what he reiterated. SME sector in Qatar is promising, and is expected to grow rapidly and will play an important role in Qatar's overall growth.
“By providing financial guarantees for projects, QDB seeks to promote the entrepreneurial spirit of the private sector and offer services that will facilitate the development, growth and diversity of the national economy,” said Mrs. Jawaher Al-Noaimi, Al Dhameen Manager at Qatar Development Bank. “Al Dhameen has helped SMEs in Qatar overcome the challenges they face when seeking commercial financing. The program has also helped banks overcome reservations about financing small and medium-sized companies due to the high-risk ratio of some in the sector. In 2014 alone, Al Dhameen guaranteed over 69 clients with a total value of QAR 174 million,” she said.
She added, "One of the most important objectives of Al Dhameen is to work with partner banks and supporting institutions, and not compete with them. Our mission cannot be achieved without strong and committed partners like Doha Bank, who remain at the forefront of powering Qatar's private sector and wider economic journey."
Doha Bank is committed to continue meeting financial requirements of SME sector in Qatar and also through its offices in Dubai, Abu Dhabi, Sharjah and Kuwait. Doha Bank has started its operations in India which will help businesses coming from India to start in Qatar as well as corporates who wants to do business with corporates in India.
Doha Bank’s demonstrated its long term commitment to the success of SMEs by supporting AL Dhameen guarantee program of Qatar Development bank. Doha Bank has recently financed 5 new projects under this program such as setting up a state of the art auto battery factory, establishing a dental clinic employing the most advanced equipment, welding electrodes, bitumen unit, and tourism project.
The projects are equipped with most advanced equipment & machines. The total outlay on these projects will exceed QR 50 min
All these projects will not only generate local employment but will also enable consumers to meet their consumption demands from these locally produced products. Such projects help the country to reduce its reliance on Oil & Natural Gas based industries and to bring the know-how to the country’s doorsteps. Doha Bank is also working on other such pioneering projects which reflect that Doha Bank is strongly committed to promoting Qatari SMEs.
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Chris Newbould | August 30, 2015
Habibi director Susan Yousseff has launched a Kickstarter campaign to fund her new feature, Marjoun and the Flying Headscarf, with the support of the Sundance Film Festival. Sundance is hosting the campaign on its curated Kickstarter page after the short version of the film attracted significant attention at this year’s festival.
The movie is a coming of age drama about a young Muslim girl in Little Rock, Arakansas, who seeks her identity through her headscarf and a motorcycle following her father’s imprisonment on dubious terrorist charges. The choice of location is no accident, as Little Rock was home to the 1957 Little Rock Crisis, when nine African-American students where denied access to the local high school on racial grounds on the orders of the state governor.
Youssef claims to draw inspiration for the film from both the location’s highly charged racist past, and classic coming of age films such as James Dean’s Rebel Without a Cause. Habibi star Maisi Abd Elhadi once again leads the cast.
Youssef already has funding from Doha Film Institute, Jerome Foundation, Emerging Visions (IFP & Film Society of Lincoln Center), New York State Council on the Arts, The Standby Program, and Southwestern Entertainment Production Practicum. She now hates to raise the further $100K needed to put the film into production through the crowdfunding site.
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29 September 2015 | Providing clarity in preparation for a post sactions era
MEED is pleased to announce the first of its kind, Iran Breakfast Briefing taking place 29th September 2015 at the Address Hotel, Dubai Mall, Dubai, UAE.
This rare opportunity will provide the best clarity in preparation for a post sanctions era for companies interested in Iran, or open to doing business with Iran come implementation day (I-day).
Attend the briefing and:
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