The workshop, attended by Mr. Rashid Bin Ali Al Mansoori, CEO of QSE and Commercial Bank CEO Mr. Abdulla Saleh Al Raisi, management from both organizations, Deloitte, and Commercial Bank’s top SME customers serviced by the Bank’s specialized department Enterprise Banking, highlighted growth opportunities for SMEs seeking to be part of the QEVM, which joins the QE Main Market, and provides a revolutionary new platform for SMEs to pursue their bold entrepreneurial visions and also benefit from access to capital through listing.
The event kicked off with introductory speeches from both Chief Executives outlining the importance of SMEs in achieving the goals laid down in the Qatar National Vision 2030. The Vision 2030 identifies developing the SME sector as essential to achieving sustainable economic development by diversifying Qatar’s economy away from a reliance on oil and gas, creating jobs and driving new sources of innovation.
In his opening speech, Commercial Bank CEO Mr. Abdulla Saleh Al Raisi said: “As Qatar’s first private bank, we actively support the Qatar National Vision 2030 under the wise leadership of His Highness The Emir, which sets out an economic blueprint of a viable and prosperous future for Qatar as our nation continues to transform into a more knowledge-based economy. Key to this blueprint is achieving economic diversity and sustainability through SMEs, and Commercial Bank is committed to serving the needs of SMEs to support the growth and vitality of our national economy. Commercial Bank is the SMEs bank of choice in Qatar and through our specialized Enterprise Banking department, we provide targeted support for SMEs to grow and succeed through our bespoke, value-added products and services such as this joint workshop today.”
Mr. Al Raisi added: “Qatar Exchange Venture Market is envisioned as the ‘Home of Entrepreneurial Qatari companies’ adding value locally with the potential to compete globally. This is a very ambitious goal and the Venture Market is still in its development phase, but through proper SME engagement and partnerships with key strategic partners such as Commercial Bank, the Venture Market is seeking to raise awareness and increase interest from potential companies looking to list.”
In his address to the workshop, QSE CEO Mr. Rashid bin Ali Al-Mansoori highlighted the support of QSE to the SME””s sector: “Like Commercial Bank, Qatar Stock Exchange recognizes the importance of the SME sector which globally provides the foundation for successful economies, contributing employment opportunities, wealth creation and increased output. Qatar is no exception and Qatar Stock Exchange has therefore developed QE Venture Market with the objective of supporting the growth of SMEs and positioning Qatar Stock Exchange at the centre of the government’s ongoing support for this important sector which is a key element in the National Vision 2030.”
In his remarks, Mr. Al-Mansoori explained the ecosystem for empowering SMEs listing on QSE and emphasized that this ecosystem is particularly important for the success and future growth of SMEs because it is critical to get the community working together, including company founders, investment bankers, lawyers, accountants, traders, analysts and investor relations professionals.
Al-Mansoori added: “We hope to be working hard with all of you to ensure a healthy pipeline of suitably qualified companies is able to come to our market. It is expected that these companies will be SMEs from Qatar, the GCC and the MENA region to establish a solid foundation for our nation’s future.”
During the workshop, QE Director of the Listing Department, Mr. Abdul Aziz Al Emadi, gave a detailed presentation about the many benefits SMEs will have access to when listing on QSE. He clarified that offering liquidity and valuation is a primary benefit for listing on QSE, especially in view of the fact that private and family businesses are reaching a stage where the first or second generation owners are no longer so active in the business. Thus, listing is a solution for succession and business continuity considerations.
At the end of the workshop, attendees had the opportunity to network with senior figures from the Bank and QSE, as well as with their peers to generate new ideas to benefit their business. Customers interested in attending future workshops or learning more about Commercial Bank’s Enterprise Banking products and services can e-mail email@example.com or call 974 4449 0000.