Doha, Qatar, March 20, 2019:   In keeping up its momentum of providing immense opportunities to Qatari entrepreneurs, Qatar Development Bank (QDB) successfully hosted the 4th edition of its Retirees Entrepreneurship Program ‘Khutwa’, which was organized in collaboration with the General Retirement and Social Insurance Authority. The event was held on the 14th of March, at Bin Jelmood House at Msheireb Downtown Doha.

The program paved the way for retiree entrepreneurs to present their ideas and integrated business plans for their projects that serve the diversity of the national economy and opens up new business horizons. In its current edition, Khutwa program is evidently the culmination of success of its previous editions, as it has been able to achieve its goals and objectives to promote new projects and creative ideas.   

During the ceremony, 25 applicants presented their ideas. Having heard their competitive pitches, the top 3 finalists who were announced at the ceremony are, Ms. Aysha Mohamed Al Homor, who presented the “Training Center for Women Workers” project, and Mrs. Munira Al Kuwari, who presented the “Children’s Sports Center” project, and Mr. Wissam Zakaria Abou Jbara, who presented the “Photography for babies” project. 

During the ceremony, the participants were selected based on specific criteria such as: the market need for the service or product; value enhancement that it offers; presenting an integrated business model for the project idea; proving the interest of the customers about the idea of the project; establishing financial viability for the project; and last but not the least an assertive presentation in front of the expert panel. The selected entries had five minutes each to present their ideas to the jury members.

Mr. Ibrahim Abdulaziz Al Mannai, Executive Director for Advisory Services at QDB, and Mr. Khalifa Issa Al-Khulaifi, Director of the Retirement Department, at the General Authority for Retirement, handed over the certificates to the top 3 finalists, as well as QAR 100,000 prizes worth coupons in the form of “ISTISHARA” services, including Marketing consultation, “OQOOD” Legal consultation, “JADWA” Feasibility Study, and Financial consultation. Based on their requirements, winners can select the services they would like to opt for.  

Commenting on this occasion, Mr. Ibrahim Abdulaziz Al Mannai, Executive Director for Advisory Services at QDB, said:
“The launch of the 4th edition of Bank’s Retirees Entrepreneurship Program (Khutwa) comes in the context of our strong commitment to support and develop the national economy and contribute to the achievement of the Qatar National Vision 2030. QDB has organized this program in collaboration with the General Retirement and Social Insurance Authority to build basic skills for retiree entrepreneurs, in order to provide opportunities and conditions for the establishment of successful business, and today we were spellbound by the ideas being displayed by the participants who are still buzzing with potential even after the retirement. Through such endeavors, QDB is committed to support entrepreneurial activities through different entrepreneurial paths, including developing entrepreneurial cultures, building skills, and supporting growth.” 

On his part, Mr. Khalifa Issa Al-Khulaifi, Director of the Retirement Department at the General Authority for Retirement, said:
'I believe this is one of the most concrete steps that has been taken to transform retirees' and pensioners’ ideas into concrete programs. This initiative has opened new horizons for them through its various services including: training, motivation, free consultation and financing.”

He added, “This initiative aims at empowering retired entrepreneurs, by creating the right conditions & enabling environment and equipping them with the right skills needed for them to qualify for running Small and Medium enterprises and manage operations. Today we are proud of this successful initiative that will qualify a new constellation of entrepreneurs, and we are optimistic of the participants’ abilities in applying all information they have received to achieve the best results and accomplish their ambitions.”

Al-Khulaifi reaffirmed his keenness in adopting initiatives that would enhance the contributions of the community’s development of retirees and emphasized on the Authority’s best practice to fulfill their aspirations. The initiative reflects the Board of directors and Qatar Development Bank’s commitment to support this groups which is dear to our hearts, supporting and enabling them to continue giving back to the society, and contributing to the realization of Qatar Vision 2030, thanks to their expertise in various fields. 

He also thanked Qatar Development Bank for their continuous cooperation and their support for the initiative and thanked the pensioners for their interaction and responsiveness to the Authority’s programs.    

Khutwa program aims to train and develop retirees to learn basic skills of entrepreneurship, through a package of training programs and advisory services to enter the world of entrepreneurship to establish and manage a sustainable successful business.