DOHA: Qatar Development Bank (QDB) has been recognized as the “Best SME Loan Provider” at the “Banker Middle East Qatar Product Awards 2014”. This is the latest recognition of QDB’s leadership position in supporting and financing small and medium-sized enterprises (SMEs) in Qatar, according to a statement.
QDB won this award after a four-week voting process and following online participation from 32,000 readers of Banker Middle East magazine. This year’s awards were hotly contested by 110 nominees in 27 categories. The awards are among the most recognized and prestigious for financial institutions in the Middle East and North Africa (MENA).
Abdulaziz bin Nasser Al Khalifa, CEO of QDB, said: “We are proud of this honor, which reflects QDB’s achievements over the past year and recognizes our tireless efforts to support SMEs in Qatar – helping to ensure a strong and continued growth of the private sector for the future. . Behind this award is an outstanding portfolio of products and services for SMEs and a track record of success in delivering them. Over the past year, QDB has granted around 375 loans, helping more than 100 SMEs in Qatar. To date, the bank has supported approximately 250 SMEs through almost QR 3.5 billion of financing.
Al Khalifa added, “I would like to emphasize that QDB’s core strategy is to provide our customers and partners with first-class service, and we would like to express our deep appreciation for their support and that of the industry as we accept this prestigious honour. I dedicate this award to each member of the QDB family, who has played a major role in propelling QDB to this leadership position.
QDB has already won the Banker Middle East Product Awards for “Best SME Finance Program” in 2013, for its successful Al Dhameen indirect lending program. Also this year, QDB received the award for “Best Development Bank” in the Middle East. This series of awards reinforces QDB’s efforts to create an ideal environment for the growth of SMEs and entrepreneurship in Qatar.
The awards are based in part on a peer-voting process and in part on CPI Financial 100 analysis of published and audited financial data. The award results are therefore decided jointly with the industry and the financial community and not solely by Banker Middle East. Only readers of Banker Middle East and registered users of www.cpifinancial.net can vote.