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Qatar Development Bank, QIB sign new Al Dhameen Programme agreement

Qatar Development Bank, QIB sign new Al Dhameen Programme agreement

DOHA: Qatar Development Bank announced today that Abdulaziz Bin Nasser Al-Khalifa, CEO of Qatar Development Bank (QDB) , and Mr. Bassel Gamal, Qatar Islamic Bank (QIB) Group Chief Executive Officer, signed a new Al Dhameen Programme Portfolio Agreement sponsored by QDB , enabling further expansion of SME financing in Qatar, on Sunday.

The agreement was attended by QDB officials Khalid Abdulla Al Mana, Executive Director of Business Finance and Ms. Jawaher Al Noaimi, Al Dhameen Programme Manager. QIB was represented by Tarek Fawzi, General Manager, Wholesale Banking Group and Mazen Al Thalathini Assistant General Manager-Corporate Banking, and Basem Shahrouri Head of Business Banking Division.

With QR100m portfolio, the new product “Al Dhameen portfolio” aims at facilitating and speeding up the approvals to guarantee the value of the funding provided by the partner bank to small and medium enterprises lacking sufficient guarantees. QDB has prepared a special portfolio guide that describes the terms, conditions, and highest international standards, due diligence, credit monitoring, applications and guidelines development, to help QIB to take the necessary decisions without referring to QDB .