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 hydrocarbons 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
 Aug 3 2015 - GBM Gold pours first gold at Victorian projectProactiveInvestors - Australia
(MENAFN - ProactiveInvestors) GBM Gold (ASX:GBM) has poured first gold mined from its Victorian gold open pit near Dunolly from 2700 tonnes of ore. The ore was processed at the A1 gold processing ...

 Aug 3 2015 - Mobily Q2 net loss hits nearly USD215mMENAFN
(MENAFN) Saudi Etihad Etisalat (Mobily), suffered a net loss of USD215 million during the second quarter of this year as a result of dispute with Zain.The company Exposed to loss in the second ...

 Aug 3 2015 - Dubai spent USD46.2m for water transmission networksMENAFN
(MENAFN) Dubai Electricity and Water Authority (DEWA), launched major water transmission networks with a length of 25km. This project matches Dubai Plan 2021, which pursues economic development, ...

 Aug 3 2015 - GCC Foreign Ministers hold coordination meeting in DohaSaudi Press Agency
(MENAFN - Saudi Press Agency) Foreign Ministers of the countries of the Gulf Cooperation Council held here on Sunday evening a coordination meeting ahead of their joint meeting with US Secretary of ...

 Aug 3 2015 - Saudi Arabian Football Federation holds its regular meetingSaudi Press Agency
(MENAFN - Saudi Press Agency) The board of directors of the Saudi Arabian Football Federation held its regular meeting here on Sunday.During the meeting, the board discussed topics on the agenda and ...

 Aug 3 2015 - Abu Dhabi's Agthia net profit up 20 percent in H1MENAFN
(MENAFN) Food and beverage company Agthia Group net profit for the first half of 2015 rose 20 percent to USD34 million from the same period last year, driven by higher sales and improved margins.The ...

 Aug 3 2015 - Syrian jet crashes into market, 12 killedSaudi Press Agency
(MENAFN - Saudi Press Agency) At least 12 people were killed when a Syrian army fighter jet crashed into a busy marketplace in the opposition-held northwestern town of Ariha on Monday, a monitor ...

 Aug 3 2015 - Qatar's Emir Receives GCC Foreign MinistersSaudi Press Agency
(MENAFN - Saudi Press Agency) Sheikh Tamim bin Hamad Al Thani, Emir of the State of Qatar, received today the Gulf Cooperation Council (GCC) for Arab States' foreign ministers, currently on a visit ...

 Aug 3 2015 - US State Secretary Arrives in DohaQatar News Agency
(MENAFN - QNA) US Secretary of State John Kerry arrives in Doha on Sunday night to take part in a joint meeting with Their Excellencies the Foreign Ministers of the Gulf Cooperation Council (GCC) ...

 Aug 3 2015 - Russian Foreign Minister Arrives in DohaQatar News Agency
(MENAFN - QNA) Russian Foreign Minister Sergei Lavrov arrived in Doha on Sunday night on a visit to the State of Qatar. The Foreign Minister and his accompanying delegation were welcomed upon ...

more...


 






Google

Click to Apply

 
 

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