To encourage small and medium-sized companies to be listed in QE Venture Market, the Qatar Stock Exchange and Qatar Development Bank are cooperating to meet the aspirations of development entrepreneurs and develop the growth paths and organizational flexibility required to promote this important sector by launching a new financing program related to covering the costs of listing companies on the Qatar Stock Exchange. for startups.
The two parties will work together to implement this financing program in order to assist promising small and medium-sized companies in the process of listing their business on the QE Venture Market (QEVM) to become publicly listed companies and trade their shares to the public of investors. The program aims to support small and medium-sized companies that meet the minimum requirements for listing in addition to the regulatory and financing requirements, as the listing will help provide new financing opportunities for entrepreneurs, ensuring diversification of financing sources, and providing an additional alternative to traditional financing programs, in order to strengthen the national business system and the state’s endeavors. in supporting the private sector.
Qatar Stock Exchange and Qatar Development Bank will also work to enhance cooperation between them to develop the Qatar Stock Exchange for startup companies, with the aim of ensuring that the relevant small and medium-sized companies benefit effectively from the experience of each party. The two parties will seek to support the listing and market its benefits, in addition to holding joint seminars and developing training programs in order to enhance the capacity of small and medium-sized companies and prepare them for listing on QE Venture Market.
Mr. Abdulaziz Nasser Al-Emadi, Acting CEO of Qatar Stock Exchange, expressed his thanks and appreciation for the unlimited cooperation shown by Qatar Development Bank in establishing this important financing program to support small and medium-sized companies and help them get listed, and for the pivotal role played by the Development Bank in supporting this important sector. He also expressed his welcome to the signing of the Memorandum of Understanding as a basis for close cooperation with Qatar Development Bank, aimed at enhancing awareness of the benefits of listing small and medium-sized companies on the Qatar Stock Exchange designated for these companies, based on the principle that the Qatar Stock Exchange and Qatar Development Bank share one goal, which is to support the success of companies. Small and medium-sized enterprises and their economic contribution to the national economy, in line with the strategy of economic diversification and self-reliance according to the Qatar National Vision.
For his part, Mr. Abdul Rahman Hisham Al Suwaidi, Acting CEO of Qatar Development Bank, stressed the importance of this step and its role in strengthening the national entrepreneurship system, adding: “This step comes with the brothers in the Qatar Stock Exchange as a continuation of our endeavors at Qatar Development Bank to support male and female entrepreneurs in Small and medium-sized companies in the State of Qatar and providing access to the necessary means of financing through the various programs and services provided by the bank, including direct and indirect financing and investment. We are also pleased today to culminate our cooperation with the Qatar Stock Exchange by launching this new financing program, which will contribute to diversifying financing sources for small and medium enterprises and enabling them to grow and contribute to the national economy on a larger scale.”
The financing program is characterized by competitive profit rates, a flexible repayment period with a long grace period, and financing that covers up to 70% of the costs related to the listing process. All small and medium-sized companies in Qatar can apply for this program through the application window on the Qatar Stock Exchange or through the website of the Stock Exchange. Qatar.
It is noteworthy that the bilateral initiative resulted from the signing of a memorandum of understanding between the two parties, to consolidate their efforts to build strong bridges of cooperation to support and strengthen the national entrepreneurship system, and to meet the aspirations of small and medium-sized companies. Visit the Qatar Development Bank website www.qdb.qa: Or visit the Qatar Stock Exchange website via the following link: : www.qe.com.qa