10 SMEs to 5 countries in 3 years

Doha: Sunday, January 24, 2016

Qatar Development Bank (QBD) announced its latest project to develop local SMEs, 'The Franchise Project,' during a press conference held on Sunday, January 24, 2016 at the bank's headquarters.

The project will promote international growth for local brands by showcasing successful franchise models, including all the necessary strategic, legal consultations, operational and marketing tools prepared by experienced consultants to give the local Qatari brands to expand globally.

Mr. Abdulaziz Bin Nasser Al-Khalifa, CEO of Qatar Development Bank, said: "We at Qatar Development Bank strive to create meaningful opportunities to support local SMEs. There are several stages applicants need to go through to benefit from The Franchise Project, from evaluating a company's readiness, to discussing next steps and requirements, and creating evaluation reports to pinpoint development areas."

QDB put a set of eligibility criteria to participate in The Franchise Project, such as the business has to be 51% Qatari, to be in operation for 1 year minimum, and to add value to the economy, education, manufacturing and services, as well as food and beverages sectors.

Al-Khalifa added: "Any business is a franchisable business, however some might need fine-tuning or more development to be ready to expand. In the case of QDB's The Franchise Project, SMEs with active Qatari owners are eligible to take the Franchisability Quiz to determine if they qualify for the next stage of assessment. We will be committed in Qatar Development Bank to take 10 local SMEs to expand globally in 5 countries in the next three years."

Qatar Development Bank seeks to provide the tools to help develop the Qatari private sector and SMEs in line with national economic diversification, to activate private sector contributors to build a sustainable and competitive local economy.

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About Qatar Development Bank (QDB)
Qatar Development Bank (QDB) was established in 1997 as the Qatar Industrial Development Bank, a 100% government-owned developmental organization. Its primary aim was to develop investments within local industries, thereby accelerating growth and economic diversification in Qatar through support for private sector. Between 1997 and 2005, the bank expanded its portfolio, diversifying from its industrial base to include support and guidance for a range of non-industrial sectors identified as key to the development of Qatar. Shortly afterwards in 2006, the bank revisited its mission statement to reflect the successful completion of its new strategic objective and changed its name to Qatar Development Bank. In 2008, The State of Qatar, QDB's sole shareholder, increased the bank's capital from 200 million to 10 billion riyals in 2008. Since that time, and reflecting the expansion of its mission and financial assets, QDB has launched a considerable number of strategic initiatives and programs, all designed to directly contribute to the economic growth and development of Qatar.

QDB's strategy is entirely in line with Qatar National Vision 2030. It is focused on promoting and facilitating the growth of the private sector in Qatar within key economic channels. In turn, this support will enable the development of long term, sustainable social and economic benefits across the economy.

Aside from offering financial support, Qatar Development Bank is tasked with promoting entrepreneurship in the private sector, facilitating the development of key economic sectors through the provision of capital and advisory services. QDB has also launched several initiatives, including Al Dhameen program, an indirect loan facility to guarantee commercial bank loans to private sector companies, in collaboration with other banks and financial institutions. QDB's export arm "TASDEER" program was created to develop and promote exports from Qatar, providing export credit guarantees in addition to financial products and solutions designed to mitigate the risks imposed on local exporters. The bank also provides consulting services in business development to help entrepreneurs to prepare for business. This will include feasibility studies, the conduct of market research and the selection of appropriate techniques; fundamentally helping to develop the capabilities of SME owners to enhance and refine their skills in the market and establish strong ties with financial and non-financial support entities.

For more information, please contact
Mohammed Mamdouh
Grayling
Mob: Mohammed.Mamdouh@grayling.com
Email: +97450176155

© Press Release 2016