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Doha - Qatar Stock Exchange (QSE)and Commercial Bank haveheld a joint workshopfor SMEs at the Bank's D-Ring Road branch regarding opportunities to list on the Qatar Exchange Venture Market (QEVM).
The workshop, attended by Mr. Rashid Bin Ali Al-Mansoori, CEO of QSE,Commercial Bank CEO Mr. Abdulla Saleh Al Raisi, senior management from both organisations, Deloitte, as well as Commercial Bank's top SME customerswho are serviced by the Bank's specialisedEnterprise Banking department,highlighted growth opportunities for SMEs seeking to be part of the QEVM, which joins the QE Main Market, and providesan innovative new platformforSMEs to pursue their bold entrepreneurial visions and also benefit fromaccess to capital through listing.
The event kicked off with introductory speeches from both Chief Executives outlining the importance of SMEs in achieving the goals laid down in the Qatar National Vision 2030.The Vision 2030 identifies developing the SME sector as essential to achieving sustainable economic development by diversifying Qatar's economy away from a reliance on oil and gas, creating jobs and driving new sources of innovation.
In his opening speech, Commercial Bank CEO Mr. Abdulla Saleh Al Raisi said: "As Qatar's first private bank, we actively support the Qatar National Vision 2030 under the wise leadership of His Highness The Emir, which sets out an economic blueprint of a viable and prosperous future for Qatar as our nation continues to transform into a more knowledge-based economy. Key to this blueprint is achieving economic diversity and sustainability through SMEs, and Commercial Bank is committed to serving the needs of SMEs to support the growth and vitality of our national economy. Commercial Bank is the SMEs bank of choice in Qatar and through our specialised Enterprise Banking department, we provide targeted support for SMEs to grow and succeed through our bespoke, value-added products and services such as this joint workshop today."
Mr. Al Raisi added: "Qatar Exchange Venture Market is envisioned as the 'Home of Entrepreneurial Qatari companies' adding value locally with the potential to compete globally. This is a very ambitious goal and the Venture Market is still in its development phase, but through proper SME engagement and partnerships withkey strategic partners such as Commercial Bank, the Venture Market is seeking to raise awareness and increase interest from potential companies looking to list."
In his address to the workshop, QSE CEO Mr. Rashid bin Ali Al-Mansoori highlighted the support of QSE to the SME's sector: "Like Commercial Bank, Qatar Stock Exchange recognisesthe importance of the SME sector which globally provides the foundation for successful economies, contributing employment opportunities, wealth creation and increased output. Qatar is no exception and Qatar Stock Exchange has therefore developed QE Venture Market with the objective of supporting the growth of SMEs and positioning Qatar Stock Exchange at the centre of the government's ongoing support for this important sector, which is a key element in the National Vision 2030."
In his remarks, Mr. Al-Mansoori explained the ecosystem for empowering SMEs listing on QSE and emphasised that this ecosystem is particularly important for the success and future growth of SMEs because it is critical to get the community working together, including company founders, investment bankers, lawyers, accountants, traders, analysts and investor relations professionals.
Al-Mansoori added: "We hope to be working hard with all of you to ensure a healthy pipeline of suitably qualified companies is able to come to our market. It is expected that these companies will be SMEs from Qatar, the GCC and the MENA region to establish a solid foundation for our nation's future."
During the workshop, QE Director of the Listing Department,Mr. Abdul Aziz Al Emadi, gave a detailed presentationabout the many benefits SMEs will have access to when listing on QSE. He clarified that offering liquidity and valuation is a primary benefit for listing on QSE, especially in view of the fact that private and family businesses are reaching a stage where the first or second generation owners are no longer so active in the business. Thus, listing is a solution forsuccession and business continuity considerations.
At the end of the workshop, attendees had the opportunity to network with senior figures from QSE and the Bank, as well as with their peers, to generate new ideas to benefit their business.Customers interested in attending future workshops or learning more about Commercial Bank's Enterprise Banking products and services can e-mail enterprise@cbq.qa or call +974 4449 0000.
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About Commercial Bank
Commercial Bank has total assets of QAR 116.1 billion as at 31 March 2015. As a full service commercial bank, the Bank offers a full range of corporate, retail and investment banking services as well as owning and operating exclusive Diners Club franchises in Qatar and Oman. The Bank's countrywide network includes 29 full service branches and 154 ATMs.
Profitable every year since incorporation in 1974, continual investment in technology and human capital, together with a strong capital base, provides a solid foundation for continued growth. A successful diversification strategy has expanded Commercial Bank's GCC footprint through strategic partnerships with associated banks, the National Bank of Oman (NBO) in Oman and United Arab Bank (UAB) in the UAE. NBO, the second largest bank in Oman with total assets of OMR 3 billion as at 31 March 2015, has 61 conventional branches and 4 Islamic branches in Oman and 1 branch each in Egypt, Abu Dhabi and Dubai. UAB is headquartered in Sharjah, with total assets of AED 26.5 billion as at 31 March 2015, and operates 31 branches across the emirates in the UAE. Building on the successful execution of the Bank's expansion strategy to date, Commercial Bank completed the acquisition of a majority stake in Alternatifbank in Turkey in July 2013.
Commercial Bank enjoys strong credit ratings of (A) from Fitch, (A1) from Moody's and (A-) from Standard & Poor's. The Bank is listed on the Qatar Exchange and was the first Qatari bank to list its Global Depository Receipts (GDRs) as well as bonds on the London Stock Exchange. Commercial Bank's Swiss Franc bond issuance in December 2010, listed on the SIX Swiss Exchange, was the first public bond issuance by a Qatari bank in Switzerland. Commercial Bank's latest bond issuance in June 2014 is listed on the Irish stock exchange.
The Bank is dedicated to supporting Qatar's community and social infrastructure through Corporate Social Responsibility programmes and sponsorship of various events. Title sponsorship of the Commercial Bank Qatar Masters and the Grand Prix of Qatar Moto GP reflects the Bank's promotion of excellence in sports and its keen interest in enhancing Qatar's international sporting reputation. To reinforce Qatar's flourishing cultural environment, Commercial Bank is the strategic partner of the Katara Cultural Village. This collaboration symbolises the Bank's commitment to supporting cultural activities in Qatar and making the country a regional arts and cultural hub.
About Alternatifbank (ABank)
ABank was established in 1991 and has been listed on the Istanbul Stock Exchange since 1995. Commercial Bank became the majority shareholder in ABank in 2013 holding a 74.24% stake, following the acquisition of ABank shares of 70.84% from the Anadolu Group and 3.40% through a public tender offer. A squeeze out has been initiated to increase shareholding to 75%. Anadolu Group remains a significant shareholder retaining 25% of shares in ABank.
ABank is a mid-size Turkish bank that predominately serves medium-sized companies through a country-wide network of 64 branches in 21 cities. ABank provides commercial/corporate banking services and products, with a special focus on the growing segment of Small and Medium-Sized Enterprises. The Bank's main product ranges cover trade finance instruments, working capital finance, cash management, and portfolio management.
At 31 March 2015, ABank had total assets of TL 12.4 billion, total loans stood at TL 8.6 billion, customer deposits of TL 5.8 billion and shareholders' equity of TL 987 million.
wwweng.abank.com.tr
About the Qatar Stock Exchange
Established in 1995, the Doha Securities Market (DSM) officially commenced operations in May 1997. Since then the Exchange has grown to become one of the leading stock markets in the GCC region and for two consecutive years (2010, 2011), was the best performing stock Exchange in the GCC. The DSM was later renamed the Qatar Stock Exchange (QSE). QSE currently has 43 listed companies and its market capitalization is over QR730 billion (US$200 billion). The primary aim of QSE is to support Qatar's economy by giving investors a platform through which they can trade fairly and efficiently. QSE also provides the public with access to market information, ensures correct disclosure of information, and enforces securities regulations. QSE is regulated by the Qatar Financial Markets Authority.
For more information, please visit www.qe.com.qa
For more information, please contact:
Qatari media
Ibrahim Al-Emadi
Head of Corporate Communications
Commercial Bank
Tel: +974 4475 4748
Email: ibrahim.alemadi@cbq.qa
© Press Release 2015
