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08 May 2012

QFIB Sponsoring Al Fikra Qatar Business Plan Competition Awards

QFIB announces the sponsorship of the second annual Al Fikra Business Plan competition awards organized by Enterprise Qatar.

In line with Qatar First Investment Bank’s (QFIB)  commitment to encourage innovation and  contribute to the development of the SME sector in Qatar and the MENA region, the Bank  announces the sponsorship of the second annual Al Fikra Business Plan competition awards organized by Enterprise Qatar.

SME’s are vital contributors to the economy in general.  They play an important role in the diversification of income and creation of employment opportunities, specifically in a country like Qatar who is witnessing phenomenal growth rates across all sectors of the economy.

Aimed at developing a national culture of entrepreneurship, the key objectives of the competition include encouraging innovation and providing young entrepreneurs with professional guidance from industry experts.

Emphasizing the important role SME’s play in the growth of Qatar’s economy, Emad Mansour, CEO of QFIB and member of the judging panel of the final session of the Al Fikra competition commented, “We are proud to support Enterprise Qatar in their mission to develop the SME sector in Qatar.  As an investment bank, our mandate is to nurture and advance business ideas that have potential for growth.  This competition creates the right platform to inspire innovation and encourage entrepreneurship.  QFIB supports such an initiative and commits the required resources to help innovative ideas get off the ground and accelerate their growth.”

While speaking about Enterprise Qatar’s primary role as a gateway to foster SMEs, Noura Al Mannai, CEO added, “We thank QFIB for supporting Al Fikra Qatar Business plan Competition and for sponsoring the awards of the winners, and thus, QFIB’s contribution has been instrumental in evaluating and providing sound financial advice to the contestants in the Al Fikra competition.  We are confident that with the valuable support of such prominent business entities we would be able to build on the success of the competition year after year.”

QFIB, Qatar’s first independent shari’ah compliant bank regulated by the QFC Regulatory Authority strongly believes in the undisputed role SME’s can play in driving the growth and development of the national  economy.  In this regard, QFIB in the near future will be organizing a roundtable discussion around the challenges facing the SME sector in the region