QDB and QNB sign MoU to Spur Qatar's Exports

Qatar Development Bank (QDB) on Monday announced the signing of a Memorandum of Understanding (MoU) with Qatar National Bank (QNB) that will facilitate financial solutions from Tasdeer to spur exports from Qatar's non-hydrocarbon companies. The MoU is part of QDB's plans to boost its presence and expand its customer base nationally and globally. Tasdeer is QDB's export wing. Under the new agreement, financial services teams of QNB's branches abroad will highlight the financial packages that Tasdeer offers to foreign importers, while QDB will commit to offering financial services, facilities, and discounts to foreign importers in partnership with QNB. The two banks will be conducting joint visits to national and international customers of QNB to ensure that they are seamlessly familiar with the services. Tasdeer Executive Director Hassan Khalifa Al Mansouri said, "Our partnership with QNB is a pioneering example of the effective co-operation among national institutions to establish a robust infrastructure that promotes non-oil exports and stimulates growth of the business sector. "We are looking forward to other partnerships with banks and financial institutions inside and outside Qatar, as we welcome co-operation with all national institutions to serve the business sector and increase the volume of Qatari exports." "Since its inception, Tasdeer, QDB's export arm, has been able to develop an integrated export strategy, which witnessed prominent achievements in a record time. This strategy pushed up Qatari exports, provided support to private sector, availed invaluable consultations to Qatari exporters, and actively participated in motivating the country’s general orientation to diversify its economy," he added. QNB Chief Business Officer Abdulla Mubarak Al Khalifa said, "QNB is proud to support yet another successful initiative launched by QDB. We see Tasdeer playing a major role in the development of Qatar's economy through actively supporting exporters. "QNB is uniquely placed to support QDB due to our regional network of banks in the Middle East and North Africa, we are able to promote Qatari products to our local customer base.