20/03/2017 08:00 AST

Doha Bank organised a breakfast meeting and knowledge-sharing session with owners of small and medium-sized enterprises (SMEs) where in-house and guest resource speakers shared their expertise.

Doha Bank Group CEO Dr R Seetharaman stressed that the sessions are part of Doha Bank’s “innovative methods” to reach out to SME owners “and will go a long way in bringing the customers and the bank together.”

He said Qatar’s SME sector “is promising, and is expected to grow rapidly and will continue to play an important role in Qatar’s overall growth.”

Doha Bank already enjoys a sizeable SME customer base, as well as a strong corporate and retail franchise across the country to meet customers’ growing requirements. C K Krishnan, Doha Bank chief wholesale banking officer, said the bank is committed to continuing to meet financial requirements of Qatar’s SME sector, and also that of Dubai, Abu Dhabi, Sharjah, Kuwait, and India through its offices.

“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 SMEs are playing a pivotal role in the infrastructure and economic development of Qatar and other regional and emerging markets,” he said.

Atul Kinra, head of SME Banking, said 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 and bank guarantees, among others to support businesses.

Apart from lending products, Doha Bank also offers specialised services like cash management, payroll products, trade services, forex solutions, insurance solutions, and 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 and 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 Bank said.

Doha Sooq, Doha Bank’s popular online shopping platform, was showcased before the SME customers. It is the “most innovative” and modern way to reach out to the masses in Qatar, which has one of the highest internet penetration in the world.

Doha Bank, being a partner bank of Qatar Development bank (QDB), also offers long-term project finance facilities under the indirect lending programme, ‘Al-Dhameen’. In the long term, through this programme, Doha Bank said 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.


Gulf Times

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