| 01 Aug 2009 |
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Qtel and Doha Bank Pioneer New Solution for SME Companies in Qatar
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Agreement Signed to Provide Business and Technological Support for Small and Medium Enterprises (SME)
Two of Qatar's leading companies, QtelQtel
and Doha BankDoha Bank, have signed an agreement to provide specialised support for Qatar's Small and Medium Enterprises (SME), through an innovative business solution initiative.This agreement will bring together support from a leading financial institution and a global telecommunications provider. This response will ensure that Qatari businesses will emerge from the global recession stronger and even more competitive.
Under the terms of the Memorandum of Understanding, QtelQtel will provide dedicated communications and technology support to members of Doha BankDoha Bank's Tatweer Programme, the specialised banking solution for small and medium businesses.
Small businesses, which make-up the backbone of Qatar's economy, have come under significant pressure in 2009 due to global conditions. The partnership is designed to enable Tatweer participants to better manage costs and improve efficiencies.
In addition, Doha BankDoha Bank
customers will have access to a range of specialist communication solutions from QtelQtel, while QtelQtel business customers will benefit from a range of enhanced financial solutions and special offers. Eng. Khalid Abdulla Al-Mansouri, Executive Director, Business Solutions Division, QtelQtel, said: "Bringing together Qatar's leading communication solution provider with one of Qatar's leading banks enables us to develop integrated business solutions specifically designed to meet the needs of small and medium businesses. Since financing and technology are two of the most significant challenges for small companies, support from experts in both these fields will provide an important boost in a challenging time."
As well as dedicated solution support, the two companies will co-organise a series of special workshops, designed to examine specific opportunities for the SME sector in Qatar, and to highlight potential financial and business solutions that could enable greater company growth.
Kevin Cain, Head - Wholesale Banking of Doha BankDoha Bank, said: "We are very proud of this new alliance, which we believe will add significant value for our clients in the SME sector. Qatar has a proud heritage of trade and entrepreneurial spirit, and we believe our tailored solution will help build upon this legacy for the future. Since its launch, Tatweer has provided significant advantages for participating companies, and with QtelQtel's involvement, we believe we will take this support to new levels."
Since its introduction, Tatweer has been successful in providing one-stop services for a wide variety of businesses, and has proven instrumental in arranging financing, developing services to drive growth and efficiency, and delivering in-business banking services.
QtelQtel also offers a range of dedicated SME services through Qtel Business Solutions (QBS), including a wide portfolio of productivity, communication improvements and cost management solutions like QtelQtel's innovative BillXpress which enables clients to see all communications costs online in real-time.
QtelQtel and Doha BankDoha Bank will shortly be unveiling a range of SME workshops that will take place in the second half of 2009.
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About Qtel
Qatar Telecom (QtelQtel) is the telecommunications service provider licensed by the Supreme Council of Information and Communication Technology (ictQATAR) to provide both fixed and mobile telecommunications services in the state of Qatar. We have a presence in 17 countries and we are committed to expansion both in the MENA region and South East Asia. Our vision is to be among the top 20 telecommunications companies in the world by 2020.
About Doha BankDoha Bank
Doha BankDoha Bank is the largest private commercial bank in the State of Qatar. It was incorporated in 1978 and commenced its banking business (including its International Banking services) in Doha, Qatar on March 15, 1979.
As one of Qatar's leading financial services company, Doha BankDoha Bank is committed to making banking work for customers and clients like it never has before. Through innovative technologies and the ingenuity of its people, Doha BankDoha Bank provides individuals and commercial, corporate and institutional clients across Qatar and even internationally, new and better ways to manage their financial lives. The company enables customers to do their banking and investing whenever, wherever and however they choose through an extensive network, and multiple access channels.
© Press Release 2009
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