Jeddah, 31 October 2010: Capitas Group International (CGI), a business management and advisory company based in Jeddah, Saudi Arabia, announced today that it has been awarded the exclusive contract to advise in the establishment Enterprise Qatar, the nation's small and medium enterprise (SME) authority. CGI is a joint venture between the Islamic Corporation for the Development of the Private Sector (ICD), a member of the Islamic Development Bank Group, and Capitas Group, LLC, a US based Shari'ah compliant holding company.

Enterprise Qatar was created under the guidance of his Highness Sheikh Hamad bin Khalifa Al-Thani, Emir of Qatar, and initiated by His Excellency Sheikh Hamad bin Jassim bin Jabor Al-Thani. The Qatari Government is committed to the development of the country's small and medium sized businesses because of the strong correlation globally between a robust SME sector and broad based economic growth. The program's objective is to create a comprehensive infrastructure to support entrepreneurial ventures, champion innovation, and foster the growth of business culture in Qatar. It will have a strategic focus in line with Qatar's National Vision 2030 to build a diversified economy.

Sheikh Mohammed Abdul-Rahman Al-Thani, Director of Enterprise Qatar, commented, "Enterprise Qatar will play a critical role in shaping the economic future of Qatar and it is vital that we establish a platform that addresses the needs of the SME sector in a measurable and meaningful way. CGI's subject matter expertise and pragmatic approach to institution building strongly complement EQ's objectives. CGI comes with a real understanding of the issues we face, and the execution experience to help make Enterprise Qatar a flagship institution."

The EQ platform will encompass the full range and depth of services necessary to foster entrepreneurship and SME growth. The platform will support SMEs and entrepreneurs by improving access to capital, promoting and facilitating various training and business support services and advocating policy initiatives that will enable SME growth.

Considering the unique challenges associated with the SME sector in Qatar, CGI will leverage its practical experience and international best practices to build a customized platform for Enterprise Qatar.

"We are very proud to be working on such an important project for the State of Qatar. Being awarded this critical project is in line with CGI's business objectives. Our mandate, through our relationship with the Islamic Development Bank, is to support public and private sector SME development initiatives throughout the OIC," stated Naveed Siddiqui, Chief Executive Officer of CGI. "We are committed and keenly focused on delivering a fully operational SME platform that practically delivers the vision that the leaders of Qatar have set for EQ."

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About Capitas Group International:
Capitas Group International is a joint venture between the Islamic Corporation for the Development of the Private Sector (ICD), a member of the Islamic Development Bank Group, and Capitas Group, LLC, a US based Shari'ah compliant holding company. CGI's mandate is to focus on initiatives that are of strategic importance to the SME and housing sectors. CGI emphasizes a pragmatic, holistic approach based on extensive experience launching and managing multiple specialty firms and working with regulators, government institutions, and the private sector. The company's capabilities span the range of multi-disciplinary functions including product development, marketing, operations and technology. In addition to the EQ project, CGI has been entrusted with the development and launch of a $533 million financing company in Saudi Arabia to provide financing to small and medium sized developers and middle income homebuyers.

About Enterprise Qatar:
Enterprise Qatar is committed to building a flourishing SME sector in Qatar through partnerships that create a supportive environment to enable innovative entrepreneurs to succeed. The project was initially championed and ignited by HE late Sh. Fahad Al-Thani, the Minister of Business and Trade. A project team then was formed in July 2009 under the chairmanship of HE Dr. Khalid bin Mohammed Al-Attiyah, State Minister of International Cooperation and under the management of Sheikh Mohammed Abdul-Rahman Al-Thani , Director of Enterprise Qatar, , to develop an appropriate model for the new entity and build a culture of excellence in, and for Qatar. Enterprise Qatar will serve as a gateway between innovative companies and the financial and business support they need to succeed. It will incorporate three key strategic principles of partnership, public purpose, performance and value.

CONTACT:
For more information please contact
Osmat Awar
Account Director
Hill and Knowlton - Saudi Arabia
Tel: 00966 2 6523232
Email: Osmat.awar@hillandknowlton.com

© Press Release 2010