Posted on January 28, 2014

The Social Development Center, (SDC) has invited Qatari entrepreneurs to apply for funding through the Rasameel Fund program. The program provides entrepreneurs with capital fund in order to establish business ideas.

The fund offers a range of support services that include providing flexible financial loans without interest, guidance and counseling services, training services, and marketing support for new projects.Applicants must provide at least 50 per cent of the project’s capital to be eligible for Rasameel fund services.

In 2013, Rasameel provided loans to a total of 32 ambitious entrepreneurs. The program aims to increase approved loan applications to 300, training and loan services to 200 applications and approving a minimum of 50 loans in 2014. This is part of SDC’s plan to support the development of the private sector in Qatar, in line with National Vision 2030.

Mr Hamad Al-Saffar, a specialist in entrepreneurial projects at the Social Development Center said, "Rasameel fund aims to provide a full range of services for aspiring Qatari entrepreneurs who want to start their own business and need funding support to achieve their goals. We, at the Social Development Center, are proud of our continuous efforts to provide aid and support to Qatari entrepreneurs through our many different programs that focus on training, professional and business development, as well as empowerment.”

The Rasameel fund was established in 2003 to provide funding support to enterprising Qataris who intended to pioneer new initiatives and business ideas. Rasameel is designed to help entrepreneurs achieve stability and profitability.