QDB celebrates year of achievements
QDB celebrates year of achievements
Building on its success in fostering Qatar’s entrepreneurship ecosystem over the years, QDB has pursued its strategy of expanding its various programs and innovative financing solutions to empower entrepreneurs to further contribute to a vibrant economy.
The bank’s efforts didn’t go unnoticed in 2023, earning QDB, for the second consecutive year, the Best Sustainable Bank award in the MENA by the Middle East Economic Digest as well as the Best SME Bank in the region by the International Finance Corporation.
At its core, QDB’s success was a reflection of the growth of Qatar’s entrepreneurship ecosystem and the promising opportunities it offers, driven by the localization of business opportunities. QDB’s efforts enabled local entrepreneurs to secure deals worth 501 million Qatari riyals in 2023, an 87% year-on-year increase.
QDB also stepped up its training sessions and expert workshops on the localization of supply chains and procurement, which grew 197% in 2023, while releasing 28 industrial reports and specialized studies to guide entrepreneurs in their development journey.
Over 6,000 entrepreneurs have so far benefited from QDB’s programs and services, gaining the necessary skills and expertise to embark on their journey with the bank’s network of business incubators and accelerators embracing 550 new startups over the past year.
QDB has also channelled 92 million Qatari riyals in direct and indirect investments into 140 startups, a 24% increase compared to 2022, while providing a total of 1.2 billion Qatari riyals in financial guarantees to over 1155 SMEs.
Today, QDB’s financing portfolio stands at 6.7 billion Qatari riyals, with direct credit facilities increasing by 21% in 2023 to 1.162 billion Qatari riyals.
QDB has not only provided SMEs and startups with access to funding but has also recognized the important role that innovative founders play in propelling the bank’s strategy towards success.
In 2023, QDB held a series of competitions and award ceremonies celebrating innovative founders in a bid to further promote Qatar’s entrepreneurial culture and inspire innovation and creativity.
Over 2000 entrepreneurs and hundreds of startups participated in the bank’s various events including the third edition of the annual Gulf Entrepreneurs Forum and the first edition of the GCC Rowad Hackathon, which took place on the sidelines of the ninth edition of the Rowad conference, QDB’s leading entrepreneurial platform.
Commenting on this year’s achievements, QDB CEO Mr. Abdulrahman Hesham Al Sowaidi said the bank’s development strategy over the course of 25 years has been driven by sustainable and innovative practices, with a focus on bolstering the local economy by empowering and equipping entrepreneurs with the necessary tools to achieve operational excellence and innovate. This, in turn, enables access to global markets and contributes to advancing and diversifying the national economy, Mr. Al Sowaidi said.
“As we celebrate 25 years of hard work and sincere efforts, we are moving confidently towards achieving our goals and we will pursue our journey of developing new initiatives, programs and products designed in line with the country’s National Strategy, its pillars and objectives.”
This was evident in QDB’s support for local communities, with the bank disbursing so far over 27 billion Qatari riyals in housing financing to more than 36,000 clients.
QDB also empowered SMEs to leverage Qatar’s success in hosting the FIFA World Cup, the world’s most prestigious sporting event, to expand their reach to new international and regional markets with 1.5 billion Qatari riyals worth of exports in 2023, a 33% year-on-year growth propelled by 711 million Qatari riyals in QDB funding for export-driven businesses and insurance coverage.
QDB’s support for exporters extended beyond financing and insurance solutions, with the bank organizing over 110 workshops and specialized training sessions on export development while hosting 18 international events and exhibitions to facilitate over 1.3 billion Qatari riyals in export deals
The bank’s efforts didn’t go unnoticed in 2023, earning QDB, for the second consecutive year, the Best Sustainable Bank award in the MENA by the Middle East Economic Digest as well as the Best SME Bank in the region by the International Finance Corporation.
At its core, QDB’s success was a reflection of the growth of Qatar’s entrepreneurship ecosystem and the promising opportunities it offers, driven by the localization of business opportunities. QDB’s efforts enabled local entrepreneurs to secure deals worth 501 million Qatari riyals in 2023, an 87% year-on-year increase.
QDB also stepped up its training sessions and expert workshops on the localization of supply chains and procurement, which grew 197% in 2023, while releasing 28 industrial reports and specialized studies to guide entrepreneurs in their development journey.
Over 6,000 entrepreneurs have so far benefited from QDB’s programs and services, gaining the necessary skills and expertise to embark on their journey with the bank’s network of business incubators and accelerators embracing 550 new startups over the past year.
QDB has also channelled 92 million Qatari riyals in direct and indirect investments into 140 startups, a 24% increase compared to 2022, while providing a total of 1.2 billion Qatari riyals in financial guarantees to over 1155 SMEs.
Today, QDB’s financing portfolio stands at 6.7 billion Qatari riyals, with direct credit facilities increasing by 21% in 2023 to 1.162 billion Qatari riyals.
QDB has not only provided SMEs and startups with access to funding but has also recognized the important role that innovative founders play in propelling the bank’s strategy towards success.
In 2023, QDB held a series of competitions and award ceremonies celebrating innovative founders in a bid to further promote Qatar’s entrepreneurial culture and inspire innovation and creativity.
Over 2000 entrepreneurs and hundreds of startups participated in the bank’s various events including the third edition of the annual Gulf Entrepreneurs Forum and the first edition of the GCC Rowad Hackathon, which took place on the sidelines of the ninth edition of the Rowad conference, QDB’s leading entrepreneurial platform.
Commenting on this year’s achievements, QDB CEO Mr. Abdulrahman Hesham Al Sowaidi said the bank’s development strategy over the course of 25 years has been driven by sustainable and innovative practices, with a focus on bolstering the local economy by empowering and equipping entrepreneurs with the necessary tools to achieve operational excellence and innovate. This, in turn, enables access to global markets and contributes to advancing and diversifying the national economy, Mr. Al Sowaidi said.
“As we celebrate 25 years of hard work and sincere efforts, we are moving confidently towards achieving our goals and we will pursue our journey of developing new initiatives, programs and products designed in line with the country’s National Strategy, its pillars and objectives.”
This was evident in QDB’s support for local communities, with the bank disbursing so far over 27 billion Qatari riyals in housing financing to more than 36,000 clients.
QDB also empowered SMEs to leverage Qatar’s success in hosting the FIFA World Cup, the world’s most prestigious sporting event, to expand their reach to new international and regional markets with 1.5 billion Qatari riyals worth of exports in 2023, a 33% year-on-year growth propelled by 711 million Qatari riyals in QDB funding for export-driven businesses and insurance coverage.
QDB’s support for exporters extended beyond financing and insurance solutions, with the bank organizing over 110 workshops and specialized training sessions on export development while hosting 18 international events and exhibitions to facilitate over 1.3 billion Qatari riyals in export deals