Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar - QNB, QDB tie up to finance Al Naqeeb project  Join our daily free Newsletter

MENAFN - The Peninsula - 19/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - The Peninsula) As part of its commitment to provide easy access to banking products and services to local small and medium enterprises (SMEs), Qatar National Bank (QNB), Al Naqeeb Plastic Factory and Qatar Development Bank (QDB) signed an agreement to finance a new project supported through QDB's Al Dhameen programme



QNB, in a press statement yesterday, said that it was the first bank to join Al Dhameen programme back in 2010, and since then, it has financed most of the beneficiaries of the QDB's loan guarantee programme dedicated for the SMEs



Al Naqeeb Plastic Factory will be manufacturing PP (Polypropylene) Woven bags of different capacities (25kg, 50kg, and 100kg).



Woven PP bags are considered to be the toughest packaging bags, which are widely used to pack materials such as grains, sugar, flour, fertilisers, animal feeds, and chemicals and can also be used for other applications



Hamad Al Kubaisi, Executive Director of Strategy and Business Development at QDB, said: "We are proud to be working with QNB in order to achieve our goals of supporting the local private and SME sectors. These goals fall directly within Al Dhameen programme's efforts in order to achieve economic diversification and lower dependency on the hydrocabons sector as a major source of income, which is in line with Qatar National Vision 2030."




Hamad Al Jamali Assistant General Manager at QNB, added: "QNB welcomes partners who are looking to set up new factories in Qatar and we appreciate the support that is offered by QDB.



The factory will offer 100 percent custom designed polypropylene woven bags as per the required specifications of the customer. The product is flexible; double side printed, water and dust proof designed, heat/wave cut and hemmed top, flat or anti-slip woven and finally ensures UV protection



This brand new factory will be located in the SME Industrial Area with area of 4,080 square metres, with a total built-up area of 2,230 square metres, which includes the company's offices



Al Dhameen programme enables lending to businesses that require collateral.



QNB is a keen supporter of the programme and is committed to working in close partnership with QDB to help grow the private sector and support the free market economy in Qatar



The programme covers a portion of the risk of funding institutes, or banks in case the guaranteed project has failed in repaying the whole amount or part of it to encourage banks to finance enterprises


 


The Peninsula




  MENA News Headlines
 Sep 25 2016 - An output freeze deal in Algeria means $60 oil!Khaleej Times
(MENAFN - Khaleej Times) The oil market has been a rollercoaster in 2016. A global financial panic triggered by China's yuan depreciation caused Brent crude to fall below $30 a barrel in late ...

 Sep 25 2016 - Output freeze eludes Russia, Saudi Arabia talksKhaleej Times
(MENAFN - Khaleej Times) The world's two biggest oil producers Saudi Arabia and Russia said on Monday they had agreed to "act together" to try to stabilise oil prices, but failed to make headway on ...

 Sep 25 2016 - Value, risk in large cap biotech sharesKhaleej Times
(MENAFN - Khaleej Times) Merger mania has led to fairy tale outcomes on some biotech shares on Wall Street. For instance, oncology biotech Medivation (MDVN) tripled in value in 2016 once Pfizer won ...

 Sep 25 2016 - US equities and a spasm of risk aversionKhaleej Times
(MENAFN - Khaleej Times) I had written a column two weeks ago outlining my view that US equities faced a dangerous autumn and the S & P 500 index was set for a fall of 150 points. However, even I ...

 Sep 25 2016 - Value investing themes in Asian equity marketsKhaleej Times
(MENAFN - Khaleej Times) When Ben Bernanke uttered the word "taper" in May 2013, he triggered a bloodbath in emerging markets and a free fall in "fragile five" currencies that included the Indian ...

 Sep 25 2016 - Wells Fargo mired in one of the most sordid scandalsKhaleej Times
(MENAFN - Khaleej Times) Wells Fargo was, until last week, America's most valued money centre bank, the crown jewel of Warren Buffet's investment portfolio, a model of corporate excellence whose ...

 Sep 25 2016 - Fear, risk and value in emerging market currenciesKhaleej Times
(MENAFN - Khaleej Times) The $5 trillion global foreign exchange market is hyper-sensitive to shifts in the ultra-easy money policies of the G-7 central banks. So it is no coincidence that the ...

 Sep 25 2016 - UAE equities to perform better in next 12 monthsKhaleej Times
(MENAFN - Khaleej Times) A bullish real estate outlook, an impending tourism boom driven by new branded theme parks and a widely anticipated pick-up in business activity are critical triggers for ...

 Sep 25 2016 - Mohammed bin Zayed reassured regarding Haj pilgrims from UAEKhaleej Times
(MENAFN - Khaleej Times) His Highness Shaikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, in a telephone call to Dr. Mohammed Matar ...

 Sep 25 2016 - UAE voices concerns on 'Justice Against Sponsors of Terrorism Act'Khaleej Times
(MENAFN - Khaleej Times) Shaikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation,has expressed the UAE's concern about the US Congress adopting the law ...

more...


 





Google

Easy Forex
 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help