Posted on January 31, 2017

Al Khalij Commercial Bank (al khaliji) P.Q.S.C., Qatar’s next generation bank, is offering aspiring entrepreneurs the opportunity to finance and grow their Small and Medium Enterprises (SME) projects through Al Dhameen program, in association with Qatar Development Bank (QDB).

Al Dhameen supports businesses in the Manufacturing, Education, Tourism, Healthcare and services sectors in launching their SME ventures, while effectively contributing to the realization of the Qatar National Vision 2030 through investing in the country’s economic growth and diversification. The program is based on a groundbreaking agreement signed between the two leading banks with the aim of empowering entrepreneurs and startups in various sectors and fields to establish and develop their planned projects by financing up to 85% of the project cost with a preferential interest rate.

The market-leading initiative reaffirms al khaliji’s commitment to the diversification of the national economy as one of the main objectives of the National Development Strategy 2017-2022 and its overarching Qatar National Vision 2030, while supporting the growing number of SMEs and boosting the private sector and entrepreneurial innovation in the country, thereby creating more opportunities for the next generation of business leaders. As part of its commitment to supporting the SME sector in Qatar, Al Dhameen program helps SME's establish a credit history with banks for future credit facilities, without the need for large collateral, and encourages financial institutions to understand the importance of Qatar SME's, and develop closer business relationships with them.

Al Dhameen is an indirect loan facility established by QDB to guarantee commercial bank loans to private sector companies, as a way of assisting SMEs that show components of success with limited credit history or lack of collateral to obtain access to funds, for establishing or growing their businesses. The program reflects al khaliji’s belief that to be a successful financial institution, the bank must meet the needs of both this generation and future generations of employees, customers, investors and business partners, by blending tradition with innovation.

More information about the program and its terms and conditions is available on al khaliji’s official website at www.alkhaliji.com, or through the Bank’s Call Center at +974-4494-0000.

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