MORE POWER TO THE PRI­VATE SEC­TOR

Qatar Today - - BUSINESS > BANK NOTES -

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.

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