Qatari Islamic bank targets construction SMEs

Bert de Ruiter, GM: wholesale banking group.

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QIB, one of the largest Islamic banks in Qatar, is introducing specific sector-related packages to meet the different needs of SMEs, starting with the key sectors of construction, trading and services.

The Islamic bank is launching a new programme aimed specifically at providing special services to the country's small and medium sized enterprises (SMEs), and offering them exclusive financial benefits, guidance and advice.

The programme, to be known as Aamaly, aims at supporting SMEs, who are recognised as one of the main contributors in innovation and job creation within Qatar, and their key role in creating a sustainable economy for the country's future generations, as laid out in Qatar's National Vision 2030.

QIB has created a special department for Aamaly, with  experienced executives to run the scheme. Benefits for SMEs will include the provision of dedicated relationship managers, a wide branch network including special SME-centric banking centres, 24-hour banking, including a dedicated call-centre line, payroll services, cash and cheque collection and overnight vaulting and time deposits, together with flexible financing options tailored to SMEs.

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Additional benefits that SME clients will enjoy include free debit and credit cards, complimentary cheque books and discounted fees on transfers.

Bert de Ruiter, GM of QIB's wholesale banking group, said that the bank has been at the forefront in its support of the local economy by financing SMEs, which are becoming the engine of the economy.

"A significant part of QIB's strategy is to provide Islamic financing solutions for all our customers, and now we are proud to introduce a unique programme dedicated to serving the different sectors by offering them tailored made packages to meet their different needs," said de Ruiter.

"Now, with the services and products QIB will be providing under Aamaly, small- and medium-sized enterprises and their entrepreneurs can be sure that they will get unprecedented attention, so they can concentrate on their businesses, rather than worry about their financial requirements.

In December, QIB received two awards at the Global Entrepreneurship Week 2012 for its engagement with Qatar Development Bank's 'Al Dhameen' programme, which supports and encourages SMEs in their start-up and early development phases. Recognising its potential, QIB was the first Islamic bank to sign up for the programme in 2011.