Al-Dhameen is a QDB initiative encouraging banks to offer financing to startups and SMEs that are unable to provide the necessary financing guarantees or collaterals.Al-Dhameen is a guarantee program, not a direct financing program.It does not offer direct financing to SMEs. Instead, it issues a letter of guarantee to the financing bank, promising to repay up to 85% of the allocated funds (not exceeding 15 million QR). This allows startup and SME owners to obtain the financing they need from a list of participating banks to launch or grow their business.
Note: The participating bank will consider the application in accordance with its lending policies. If the bank deems necessary to have a guarantee after approval of the financing, it shall submit it to QDB for issuance. It is true that QDB guarantees the financing to the participating bank, but the guarantor remains responsible for the full amount of the funding.
A company that is applying for a financing from the bank must have the following attributes:
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