Qatar Development Bank (QDB): Outstanding Socio-Economic Impact Initiatives Global 2021

Qatar Development Bank (QDB) is an exceptionally accomplished financial institution with a tremendous track record in translating financing and strategic growth initiatives into tangible socio-economic impact.

QDB’s agility – in particular in terms of timely action and innovation while facing disruption head-on – is one key strength that stands out to CFI.co’s judging panel. The organisation’s strong leadership and agile DNA came in handy during the COVID-19 crisis where the launch of a focused range of symbiotic initiatives equipped business enterprises to navigate the pandemic more successfully. One such example is the timely release of the National Response Guarantee Program, which supported more than 4,000 companies with their business operating expenses.

Within the SME ecosystem, QDB continues to play a leading support role in key areas including capacity-building and enhanced access to markets. Changes in regional diplomatic relations induced newfound self-reliance to the benefit of local import-substituting production – which now also is translating into growing export with QDB’s support. The bank teamed up with global partners such as the International Trade Centre (ITC) and the World Trade Organization (WTO) to assists exporters with market intelligence data, advanced training programs, and networking platforms that boosted their volume of exports by 23% in just one year.

QDB also plays a crucial role in the continued transformation of Qatar into a knowledge-based economy and Doha into a smart city. The bank’s accelerated digital transformation drive is already yielding fruit with this year’s launch of the first phase of its ‘NUMU’ end-to-end, digital-first support platform for SMEs. In parallel, Qatar FinTech Hub (QTFH) – cofounded by QDB and recently ranked as the 2^nd top investor in FinTechs in MENA – has to date supported 41 local and international startups towards introducing a range of fintech services to global markets.

Other development banks and financing institutions need to look no further for strategic inspiration than QDB. The profound suite of initiatives spearheaded by QDB has had a real domestic socio-economic development impact – and for which waves have reached far beyond Qatar’s shores.