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Brie​f About The Service

Ithmar is an equity financing program compliant with the Islamic Shari'a. The program is an integrated and comprehensive approach that provides entrepreneurs with the required funds to establish a business in Qatar.

Objectives of Ithmar

The program aims to build a new generation of Qatari entrepreneurs by providing support and equity capital to Qatari entrepreneurs to help them start their business. By doing so, QDB promotes economic diversification in Qatar enabling robust private sector business opportunities for Qataris.

Funding Limit

QDB will finance up to 90% of the project (10% financed by the entrepreneur) with a maximum investment limit of 900k qar per startup.

Convertible Musharaka Contract

Ithmar is a Shari'a-compliant equity product that is structured through a convertible Musharaka agreement, and which works as follows:

  • QDB and the client will merge their capital with the aim of making profit, whereby the funding will be done through a convertible Musharaka contract that can later be converted into shares.
  • The convertible Musharaka contract is automatically renewed on an annual basis.
  • After conversion into shares, QDB​’s existing SME equity program criteria will apply.

Who benefits from Ithmar?

  • Qatari individuals, or teams with active Qatari members, who are above 18 years old, with a focus on innovative sustainable and scalable businesses.
  • ​The program includes all sectors (except trade, real estate and contracting).

Key criteria for considerations

  • Clear investment objective: To have a clear understanding of the problem or challenge that needs a solution and how the business idea solves that problem or challenge.
  • Investment within priority areas: To be in one of the priority areas of investment, such as innovative business ideas and/or knowledge-based concepts with added value and potential to grow. Mostly, the area of focus is on the delivered services to the customers.
  • Proven concept with ready MVP: To have a tested MVP or clear service concept that evidently leads to solving concerned problem/ challenge identified.
  • Customer validation: To have a clear market understanding and business model. Knowing what are the strengths and weaknesses of the business and the opportunities and threats in the market.
  • Business growth outlook: To have a clear business and risk mitigation plan. The plan needs to include the growth dimension, in order to scale the business to regional and potentially international markets.
  • Qualified management team: To have a qualified management team which possesses both management and technical knowledge, good level of commitment, with an active Qatari partner among the team.
  • Capital contribution: To be able to contribute minimum of 10% of the total investment capital required.

Concept Note ITHMAR

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