SME sector to grow rapidly: Banker
19 Mar 2017 - 23:26
Small and Medium Enterprise (SME) sector in Qatar is promising, and is expected to grow rapidly and will continue to play an important role in Qatar's overall growth, said Dr R Seetharaman, Group CEO of Doha Bank.
The Bank organised a successful interaction with SME customers with theme ‘Financial & Business Solutions for SMEs’. Seetharaman stressed that sessions like these are an innovative method adopted by Doha Bank to reach out to SME business owners and will go a long way in bringing the customers and the bank together.
Doha Bank already enjoys a sizeable SME customer base, strong corporate and retail franchise across the country to meet customers growing requirements. C K Krishnan, Doha Bank’s Chief Wholesale Banking Officer said the bank is committed to continue meeting financial requirements of SME sector in Qatar and also through its offices in Dubai, Abu Dhabi, Sharjah, Kuwait & India. These branches are playing an important role in boosting bilateral trade between these countries and also enabling entrepreneurs to set up businesses in each other’s countries. These Small & Medium Enterprises are playing a pivotal role in the infrastructure and economic development of Qatar and other regional and emerging markets.
Atul Kinra, Head-SME Banking, mentioned that Doha Bank has proven itself to be the right partner for SMEs as it offers complete range of credit products like working capital, term lending products and non-fund facilities like letter of credit, bank guarantees, etc. to support businesses. Apart from lending products, Doha Bank also offers specialized services like cash management, payroll products, trade services, forex solutions, insurance solutions, Doha Sooq, a popular B to B and B to C online platform. Speakers from various business units presented their respective products and services such as Trade Finance advisory services, Insurance & risk advisory, Consumer banking solutions, Payroll solutions, NRI services and Doha Sooq. These tailor made solutions enable SMEs to focus on their main business. Doha Sooq, Doha Bank’s popular online shopping platform was showcased before the SME customers which was well received and appreciated. This is the most innovative and modern way to reach out masses in a country like Qatar which has one of the highest internet penetration in the world.
Doha Bank being a partner bank with Qatar Development bank (QDB), also offers long term project finance facilities under the indirect lending programme, ‘Al- Dhameen’.
In the long term, through this program, Qatar will have a sizeable manufacturing base, which in turn will create massive growth and developmental opportunities for all participants. Doha Bank is a dominant player in the SME space in Qatar and will continue to upgrade its products and services to meet customer’s requirements within its overall risk appetite.
Doha Bank has always been at the forefront of such initiatives through similar breakfast and knowledge sharing sessions in which internal and external speakers are invited and share their product expertise with the audience.