Qatar Development Bank (QDB) and Qatar National Bank (QNB) Group have joined forces to expand support for Qatari non-hydrocarbon exporters seeking to compete in global markets.
The partnership will enhance the ‘Going Global’ products bundle, empowering local exporters and international buyers interested in importing Qatari goods.
The collaboration leverages QNB’s extensive international network and advanced financial solutions, as well as QDB’s role in providing credit facilities to Qatari exporters. It aims to boost Qatar’s exports by incentivising international buyers to trade with Qatari companies.
“We aim to provide integrated solutions that enable Qatari exporters to tap new opportunities in international markets, which will reflect positively on their current and future projects. This cooperation also enables us to provide solutions that address the financing challenges which Qatari companies may face abroad,” said Khalid Abdulla Al Mana, Vice President of Enterprise Development at QDB.
QNB will benefit from QDB’s export solutions, including the ‘Buyer’s Credit’ program, which offers long-term credit facilities to international buyers or importers. QDB’s ‘Line of Credit’ program provides low-cost financing to international buyers purchasing Qatari goods.
The strategic alliance marks a significant step in QDB’s mission to promote Qatari exports and foster economic diversification.
The partnership with QNB represents a significant achievement in QDB’s ongoing efforts to promote Qatari exports. By introducing innovative financing solutions, QDB aims to provide international importers of Qatari products with more appealing options compared to traditional financing alternatives available in local or global markets.
“This agreement reflects the depth of our fruitful partnership with Qatar Development Bank, enhancing our role in supporting national exports and local companies and contributing to Qatar’s economic growth,” said Khalid Ahmed Al-Sada, Senior Executive Vice President – Group Corporate and Institutional Banking at QNB Group.
“QNB Group offers innovative financing services and solutions specifically designed to facilitate local and international trade and enhance the competitiveness of Qatari products and their reach across global markets, in an important step towards achieving Qatar National Vision 2030.”
The strategic move offers Qatari exporters a substantial competitive edge, stimulating demand for their products and facilitating the establishment of strategic partnerships with international buyers.
The promising collaboration between QDB and QNB will benefit both Qatari exporters and contractors involved in international projects. The new financial solutions and tools are expected to boost confidence among trading partners, encouraging them to expand their commercial activities.
