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Qatar Development Bank (QDB) has announced the launch of a version of the ‘Al Dhameen’ programme for micro-enterprises, for the first time in the country.
QDB Acting CEO Abdulrahman Hesham Al Sowaidi said that the launch of the Al Dhameen programme for micro-enterprises aims to strengthen the position of these companies and open new horizons for them.
He added that the programme will contribute to the development of the national business system in terms of access to financing, and will also provide new financial channels for guarantees for micro-enterprises in cooperation with partner financial institutions.
He also stressed that the Al Dhameen programme has achieved great success over 10 years since its launch, enabling more than 350 small and medium companies to obtain guarantees worth more than QR1 billion and that the updates witnessed by the program came to develop its conditions in line with the ambitions of entrepreneurs.
Al Dhameen programme for micro-enterprises is characterized by a profit rate and distinct conditions, the most important of which are: guaranteeing 100 percent of the value of the financing, and enabling micro-enterprises to create their own credit history without requiring a contribution percentage from entrepreneurs.
Updates to the ‘Al Dhameen’ programme for small and medium-sized companies are aimed at attracting promising start-ups and small and medium-sized companies seeking financing to develop their businesses.
The statement stated that these updates came based on reviews that included entrepreneurs and partner banks, and after reviewing the best international practices to identify aspects of development in the interest of both parties, facilitating the speed and clarity of procedures and improving the terms of guarantees.
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