(MENAFN- The Peninsula) (MENAFN- The Peninsula) As part of their efforts to achieve economic diversification by promoting small and medium enterprises (SMEs) several public as well as private stakeholders, including Qatar Exchange (QE) and Enterprise Qatar (EQ) participated in a workshop on 'Empowering SMEs, here recently.
The event, hosted by Doha Bank on Monday at its headquarters, was also attended by senior officials of Qatar Development Bank (QDB), Qatar Business Incubation Centre (QBIC), Doha Bank and the UK Trade Investment Centre at the British embassy in Qatar.
Participants of the workshop included Rashid bin Ali Al Mansoori, CEO of QE, R Seetharaman, Group CEO, Doha Bank, Omran bin Hamad Al Kuwari, CEO of EQ, Hamad Khamis Al Kubaisi, Executive Director of Strategy and Business Development at QDB, Aysha Al Mudahka, CEO of EQ and Gareth O'Brien, Director of Trade and Investment at the British embassy. They highlighted opportunities for SMEs to grow and flourish.
Rashid Al Mansoori said: "Like all our colleagues here tonight, Qatar Stock Exchange recognises the importance of the SME sector which globally provides the foundation for successful economies, contributing employment opportunities, wealth creation and increased output."
He added: "With the addition of the QE Venture Market to our listing opportunities, we are providing young and entrepreneurial companies a customised route to market to ensure they have access to the necessary funds to contribute to Qatar's economy. The characteristics of the market reflect the objectives of allowing SMEs to list and raise capital more easily with less stringent requirements than would be the case on the Main Market."
He compared between various finance options for SMEs and stated that listing on stock exchange is one of the best solutions to make these companies available for investments. A dedicated market for SMEs with regulation customized to their needs has been the most successful 'model'; this is the basis on which we have designed the QE Venture Market.
Seetharaman outlined the importance of the SME space in achieving the goals laid down in the Qatar National Vision 2030 document. He reiterated the critical role being played by SMEs in bringing in innovation, advancement and sustainable development worldwide.
Omran Al Kuwari gave a presentation on EQ's initiatives to empowering the SMEs -The Rating and Accreditation Programme. He explained that the SMEs applying for the program will undergo a comprehensive assessment on all aspects of the business as part of the rating and accreditation process.
While Al Kubaisi of QDB highlighted various aspects of the 'Al Dhameen' credit guarantee program of QDB which was launched to help SMEs, new and existing, to access the Qatari credit market with lack of collateral for establishment or growth in their businesses.
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