MORE POWER TO THE PRIVATE SECTOR
Qatar Development Bank (QDB) has signed a Memorandum of Understanding (MoU) with the Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of Islamic Development Bank (IDB) Group.
The new agreement is a joint strategic collaboration in examining innovative means and opportunities to support small-and-medium enterprises (SMEs) in Qatar. The MoU commits the two institutions to share knowledge and expertise relating to the SME sector in Qatar. A work group composed of key stakeholders and experts from each party will be formed in order to work on the feasibility of co-developing an investment and financing vehicle that will focus on supporting and developing SMEs and local businesses. The MoU was signed by Khaled Mohammed Al Aboodi, CEO and General Manager of the ICD, and Abdulaziz Nasser Al Khalifa, the CEO of QDB.