Officials of Qatar Development Bank and Qatar National Bank exchange the documents yesterday.
DOHA: Qatar Development Bank (QDB) yesterday announced the signing of a Memorandum of Understanding (MoU) with Qatar National Bank (QNB) to facilitate the exports of non-oil goods produced by local companies by offering financial supports to exporters under Tasdeer, an export arm of QDB, said a statement.
Under the MoU, both the banks are aiming to develop mutual plans to insure that more export-led Qatari companies and more foreign importers of Qatari non-oil products receive unique financial solutions and facilitations offered by the programme dedicated to the export promotion.
The MoU comes within QDB’s plans to boost its presence and expand its customer base nationally and globally.
The agreement also aims at stimulating Qatar’s business sector and increase the rates of Qatari products exports by foreign importers in line with achieving Qatar’s National Vision 2030 that aims to diversify the country’s income sources, support the private sector, increase numbers of manufacturing Qatari companies, and invigorating national exports.
Under the agreement, financial services teams of QNB’s branches abroad will highlight the financial facilities that Tasdeer offers to foreign importers, while QDB will commit to offering financial services, facilities, and discounts to foreign importers in partnership with QNB. The two banks will be conducting joint visits to national and international customers of QNB to ensure that they are seamlessly familiar with the services.
“Our partnership with QNB, is a pioneering example of the effective cooperation among national institutions to establish a robust infrastructure that promotes non-oil exports and stimulates growth of the business sector,” said Hassan Khalifa Al Mansoori, Executive Director of Tasdeer.
“Since its inception, Tasdeer, QDB’s export arm, has been able to develop an integrated export strategy, which witnessed prominent achievements in a record time. This strategy resulted in a driving up Qatari exports, provided support to private sector, availed invaluable consultations to Qatari exporters, and actively participated in motivating the country’s general orientation to diversify its economy,” Al Mansoori said.
Abdulla Mubarak Al Khalifa, Chief Business Officer at QNB said: “QNB is proud to support yet another successful initiative launched by QDB. We see TASDEER playing a major role in the development of Qatar’s economy through actively supporting exporters. QNB is uniquely placed to support QDB due to our regional network of banks in the Middle East and North Africa, we are able to promote Qatari products to our local customer base.” The Peninsula
