QDB organises workshop on ‘Best Payment Practices’
17 May 2017 - 23:48
In its drive to strengthen the nation’s export market, Qatar Development Bank (QDB), through the support of its export arm, Tasdeer, organised a workshop on “Best Payment Practices” to engage the nation’s exporters in an intensive educational programme on the most effective practices for commercial transactions between buyers, sellers, importers and exporters in international trade. The workshop was held on May 15 at Oryx Rotana Doha.
The workshop was designed to educate suppliers involved in the export market on the most advisable and safest financial practices in cross-border transactions for traditional and electronic trade. The organisation of this workshop comes at a time when Qatar's small and medium-sized enterprises (SMEs) are increasingly growing the capacity to export goods and tertiary services abroad at regional and global levels. Abdulaziz bin Nasser Al Khalifa, CEO of QDB, said: "Through our specialist export wing, Tasdeer, QDB continues to empower local SMEs by organising educational workshops—through engaging exporters in industrially relevant training courses, we help our entrepreneurs expand the size of their trade and familiarize them with the most important financial procedures involved in international trade.”
He added: "The workshop was important because educating Qatari exporters and suppliers on the best practices of payment helps our local businesses avoid many of the problems that commonly arise as a result of misjudging the transaction requirements, and consequently, being trapped in an unfavorable position that may compromise their dues.”
The workshop discussed four main themes: the global trends of international trade, the main elements involved in the approval of an international sales contract, the rules and functioning of documentary credits and standby documentary credits, as well as requests for different types of guarantees.