(MENAFN- The Peninsula) Qatar Development Bank (QDB) has been recognised as the "Best SME Loan" provider at the 'Banker Middle East Qatar Product Awards 2014'. This is the latest recognition of QDB's leading position supporting and financing small and medium-sized enterprises (SMEs) in Qatar, said a statement.
QDB achieved this award after four weeks of voting process and following online participation from 32,000 Banker Middle East magazine readers. This year's awards were hotly contested by 110 nominees across 27 categories. The awards are among the most recognized and prestigious for financial institutions in the Middle East and North Africa (Mena).
Abdulaziz bin Nasser Al Khalifa, CEO of QDB, said: "We are proud of this honor, which reflects QDB's achievements over the past year and recognises our tireless efforts to support SMEs in Qatar - helping ensure strong, continued private sector growth for the future. Behind this award is an exceptional portfolio of products and services for SMEs and a track record of success in delivering them. In the past year, QDB granted approximately 375 loans, helping more than 100 SMEs in Qatar. To date, the bank has supported around 250 SMEs through nearly QR3.5bn in financing."
Al Khalifa added: "I would like to emphasise that QDB's main strategy is to provide to our customers and partners with first-class service, and we would like to express our deep gratitude for their support and that of the industry as we accept this prestigious honor. I dedicate this award to each member of the QDB family, who has played a major role in propelling QDB to this leading position."
QDB was previously recognized by the Banker Middle East Product Awards for "Best SME Finance Scheme" in 2013, for its successful Al Dhameen indirect lending programme. Also this year, QDB was awarded the "Best Development Bank" in the Middle East. This series of awards reinforces QDB's efforts building an ideal environment for the growth of SMEs and entrepreneurship in Qatar.
The awards are based in part on a peer voting process and in part on the CPI Financial 100 analysis of published, audited financial data. The results of the awards are therefore decided jointly with the industry and financial community and not solely by Banker Middle East. Only readers of Banker Middle East and registered users of www.cpifinancial.net are eligible to vote.
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