Doha, Qatar: Commercial Bank is giving Qatari entrepreneurs a boost with a new initiative that puts their startup businesses in the spotlight.
Commercial Bank is providing a space at Commercial Bank Plaza building in West Bay for Qatari entrepreneurs, startups, and SME businesses to display their products to a wider audience and help bring them closer to new and potential customers.
A new business is chosen each month to go on display. The Bank started this initiative in March and the choice was “Market Café”, a Qatari business that has over 30 local suppliers providing organic coffee and a selection of sweet treats. Zodiac Café was also a guest of Commercial Bank in April, they had just started their business the Bank’s calendar is full of cafes waiting to be featured in the upcoming months, such as “Plus café, Maison Du Pain, Mastiha Shop, Dose café, and many others…”
Commercial Bank’s initiative to support Qatari entrepreneurs follows the Qatar National Vision 2030, in which SMEs play a vital role in creating a strong and diversified private sector. Promotion of locally made Qatari products is also an important part of Commercial Bank’s initiative given their contribution to the economy in the context of the economic blockade and Qatar’s strategic priority of self-sufficiency under the leadership of His Highness the Emir Sheikh Tamim bin Hamad Al Thani.
Commercial Bank Group CEO Joseph Abraham said: “This new initiative has been very well received by staff and members of the public, and we hope that that Market Café is the first of many Qatari businesses to benefit from Commercial Bank’s support for Qatari entrepreneurship and local products in line with the State’s national priorities.”
As part of its normal business operations, Commercial Bank provides a tailored proposition to support the entrepreneurial aspirations of Qataris called “Sanaduk” that combines the Bank’s expertise of Enterprise (SME) Banking and Sadara Privileged Banking. Through Sanaduk, Qataris can benefit from Sadara membership, access to working capital finance at reduced rates, special rates for Merchant Acquiring Services and Point of Sale Services, access to Qatar Development Bank’s Portfolio Indirect Lending program, and other premium privileges.