Commercial Bank reinforces support for SMEs via business development workshop

Commercial Bank, in partnership with Qatar Development Bank and with insights from MBG Corporate Services, organized a workshop to assist small and medium-sized enterprises (SMEs) in enhancing their business frameworks and embark on sustainable growth. The attendees included SME business owners and decision-makers who were introduced to critical aspects of business expansion, such as corporate strategy, governance, enterprise risk management, and finance.

The workshop also featured financing readiness discussions, followed by a question-and-answer segment and a networking opportunity for the participants. Fahad Badar, EGM, Chief Wholesale and International Banking officer of Commercial Bank, emphasized that SMEs are vital to Qatar's economic diversification and long-term competitiveness.

Commercial Bank aims to contribute to businesses' development by not only providing financing but also by building capabilities, resilience, and financial readiness. The collaboration with Qatar Development Bank and the expertise of MBG Corporate Services underscores the importance of combining diverse strengths to support entrepreneurs and bolster Qatar's private sector.

Dr Hamad Salem Mejegheer, executive director of SME Development at QDB, highlighted the significance of strengthening SMEs' business foundations for enhanced competitiveness and sustainable growth. He noted that QDB's commitment to equipping businesses with essential knowledge and skills for informed decision-making is part of their training, capacity-building, and advisory services.

QDB's partnership with Commercial Bank and MBG Corporate Services aims to provide practical guidance on growth planning and financing readiness, thereby bolstering Qatar-based enterprises' foundation for growth and their role in a more diverse and competitive national economy. Naresh Manchanda, CEO of MBG Corporate Services, expressed Qatar's commitment to developing leading institutions that promote knowledge sharing and support SMEs. He added that the foundation for growth must precede any compliance or growth objectives.