Commercial Bank, QDB sign co-operation agreement to support SMEs in Qatar
As part of this initiative, the two entities will jointly offer a suite of value-added services tailored to SMEs, including advisory support in financial planning, marketing, succession planning, feasibility studies, restructuring, and risk management.
Commercial Bank, a leader in innovative digital banking solutions, has entered into a strategic co-operation agreement with Qatar Development Bank (QDB) to empower and support small and medium-sized enterprises (SMEs) in Qatar.
The agreement aims to enhance the banking and advisory ecosystem available to local businesses by combining the strengths and expertise of both institutions.
As part of this initiative, the two entities will jointly offer a suite of value-added services tailored to SMEs, including advisory support in financial planning, marketing, succession planning, feasibility studies, restructuring, and risk management.
Additionally, a jointly agreed calendar of workshops will be held throughout the year at either Commercial Bank's or Qatar Development Bank's premises, further supporting SME development and growth.
Commenting on the collaboration, Fahad Badar, Executive General Manager and Chief Wholesale and International Banking Officer of Commercial Bank, said: 'This collaboration with QDB reflects our shared vision to cultivate a thriving SME ecosystem in Qatar. Through comprehensive advisory services and knowledge-sharing sessions, we are not only investing in the future of businesses but contributing meaningfully to the development goals of Qatar's 2030 National Vision.'
Dr Hamad Salem Mejegheer, Executive Director, SME Development at Qatar Development Bank (QDB), emphasised the significance of the agreement, stating: 'Through this collaboration with our partners at Commercial Bank, we aim to harness our collective expertise to deliver greater impact in entrepreneurship, particularly in supporting SMEs, which form a cornerstone of Qatar's economic development. This agreement represents a new step toward achieving our strategy to enhance and develop the local enterprises, in alignment with the Third National Development Strategy of the State of Qatar (2024–2030).'
© Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (Syndigate.info).
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