CEO Monthly Sept

6 CEO MONTHLY / AUGUST 2017 , Qatar Development Bank (QDB) is a fully owned government financial entity set up by an Emiri Decree, to invest in and develop local industries by supporting small andmedium enterprises (SME’s) in Qatar. Following their success in achieving the Banking CEO of the Year - Middle East & Best Financial Services Institution – Qatar accolade, we invited the firm’s CEO, Mr Abdulaziz BinNasser Alkhalifa to profile the bank’s history and what it focuses on today. Supporting Dynamic SME’s in Qatar The establishment of the Qatar Industrial Development Bank in 1997 (QIDB) reflects the farsighted vision of H.H. Sheikh Hamad Bin Khalifa Al Thani, the Father Emir, to diversify the Qatari economy by promoting private sector projects. The firm’s CEO, Mr Abdulaziz Bin Nasser Alkhalifa tells us about the bank’s innovative approach to their work, something of their background, as well as their present-day focus. “Over the years, we have provided competitive project financing facilities. Our innovative approaches have allowed us to identify promising investment opportunities for Qatari investors. This, in turn, has significantly contributed towards a dynamic and productive private sector in Qatar. Today, QDB continues to play a vital role in the development of many leading projects in Qatar. We take pride in our position as a pro-active partner for the on-going economic growth and development of the State of Qatar. “Qatar Development Bank (QDB) was founded by Emiri Decree to grow Qatar’s private sector and diversify its economy. His Highness Sheikh Hamad Bin Khalifa Al Thani, the Father Emir, identified these as vital tasks in developing Qatar into a modern state. Since our establishment in 1997, we have been at the forefront of these efforts. We have worked with thousands of Qatari entrepreneurs and enterprises. We have provided investment and guidance to brand-new start-ups and well-established corporations. And we have built a reputation for identifying promising investment opportunities. “Our focus is on growing small and medium enterprises in key sectors by offering several services through a single window to support their expected growth. Through smart, targeted financing products and advisory support services, QDB is nurturing a sound and sustainable knowledge-based economy for Qatar.” QDB focuses on accelerating the development and diversification of the economy of Qatar in line with the ’Qatar National Vision for the Year 2030’, Abdulaziz tells us. “To achieve this goal, the bank invests in the private sector by supporting local entrepreneurs, as well as providing housing and development related initiatives on behalf of the government of Qatar. We focus on the following sectors that may potentially have positive impact on the social and economic standard of living in Qatar, leading an important role in their development: industrial; medical care; education; tourism; agricultural; livestock; fishing and services. “Eligible companies with projects in these sectors can apply directly to the bank for project funding. ‎Projects showing added value to the economy of Qatar will be considered favourably. ‎Facility terms and conditions vary from sector to sector. QDB will carry out the usual measures of inspecting the creditworthiness of each applicant. ‎We provide both traditional and Islamic financing services. Eligibility to apply for direct loans from QDB varies between sectors and project dimensions.” QDB’s board of directors is primarily responsible for the development and implementation GCE17047 of sound and ethical governance practices, across the enterprise, Abdulaziz adds. He concludes by telling us more about the bank’s staff and the vital role they play. “It is the board’s primary duty to ensure that principles of corporate governance, both as described by relevant laws and regulations and those voluntarily adopted by the bank are diligently followed and complied with. “The bank’s board of directors is nominated by HH the Emir of Qatar and consists of representatives from key stakeholder government departments and ministries. The members are eminent people with vast experience and are the key torch bearers of government’s strategy in developing the non-oil sectors of the Qatari economy. “Our board is active and meets frequently during the year to review the Bank’s policies and practices and to decide on critical matters affecting the strategy and operations of the bank. The present board consists of seven members and is chaired by H.E. Sheikh Abdullah bin Saud Al- Thani.”