Letters of credit (L/Cs) at preferential rates feature in a new programme aimed at Qatar's small- and medium-sized enterprises (SMEs).

The Aamaly programme for SMEs launched by Qatar Islamic Bank (QIB) is distinctive insofar as different packages have been tailored for businesses operating in specific sectors.

Sector-specific products

Qatari SMEs involved in international trade can benefit from discounts on export L/Cs in a package specifically geared towards the trading sector, according to a QIB statement.

It says that similarly targeted advantages are available for SMEs in other sectors, such as discounted letters of guarantee for firms in the construction sector and preferential rates for payroll services for businesses in the services sectors.

Other benefits

The bank says SME clients will also be able to obtain free debit and credit cards, complimentary cheque books and discounted fees on transfers.

To support the programme, Qatar's largest Islamic bank has appointed dedicated relationship managers and established banking centres focused on smaller businesses across QIB's branch network.

Participants in the Aamaly programme will also be able to access a 24-hour dedicated call centre line, payroll services, cash and cheque collection, overnight vaulting and time deposits.

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