Under this partnership, SME clients can access both financial and insurance products through a unified platform offered by QNB and QLM. The initiative introduces 'Keyman' protection and group coverage plans, specifically designed to address the distinct requirements of SMEs. The 'SME Owner Protection' plan offers round-the-clock worldwide insurance coverage for pivotal individuals within these enterprises, ensuring business continuity in unforeseen circumstances.
Yousef Mahmoud al-Naema, QNB's General Manager of Corporate and Institutional Banking, and Fahad al-Suwaidi, QLM's Deputy CEO, formalized the agreement. Al-Naema highlighted that this collaboration underscores QNB's dedication to supporting SMEs by providing innovative financial solutions that foster growth and stability. Al-Suwaidi emphasized QLM's commitment to delivering specialized insurance products that cater to the evolving needs of the SME sector.
SMEs constitute a significant segment of Qatar's economy, contributing substantially to employment and GDP. Recognizing their importance, QNB and QLM have tailored their offerings to bolster the resilience and sustainability of these businesses. The 'Keyman' protection plan, for instance, safeguards enterprises against potential financial losses arising from the absence of key personnel due to unforeseen events.
This alliance aligns with Qatar's broader economic diversification goals, aiming to cultivate a robust and dynamic SME sector. By integrating financial and insurance services, QNB and QLM aspire to create a supportive ecosystem that empowers SMEs to navigate challenges and seize growth opportunities.
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