QDB announces the Launches of the 4th edition of its Retirees Entrepreneurship Program “Khutwa”

Doha, Qatar, February 2, 2019: As part of its pursuit to stimulate entrepreneurship in Qatar, Qatar Development Bank (QDB) is pleased to announce the launch of the 4th edition of its Retirees Entrepreneurship Program “Khutwa”. The registration to the program starts on the 3rd of February 2019, while the course starts on the 24th of February for 12 days, followed by special consultation sessions for participants to identify their project ideas and the type of support provided to them. 

Khutwa program is aimed 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.

The target audience for this course is Retired Qatari males and females. Upon completion of the training program, QDB will grant the top five applicants access to offices at the Qatar Business Incubation Centre at the bank to begin establishing their projects and get the opportunity to obtain direct financing according to the project readiness and the bank's terms and conditions.

while the rest of the applicants will have the opportunity to obtain necessary finance.

The course content will equip participants in understanding Entrepreneurship; find perfect business idea and opportunity, as well as have a better understanding of basic financial management and investment strategies. Additionally, participants will get introduced to lean startup program and one-to-one consultation sessions.

In addition to submitting a pre-feasibility study for the proposed project, attendance to workshops will demonstrate an applicant’s commitment and will be a key part of determining eligibility to funding.  

On the launch of the program, Mr. Abdulaziz Bin Nasser Al Khalifa, CEO, Qatar Development Bank, said:

“This program aims to develop training programs to build basic skills for retirees entrepreneurs, in order to provide opportunities and conditions for the establishment of successful business. QDB will conduct coaching sessions for each participant as part of the training program and identify current opportunities with QDB projects. This is a very special program organized by QDB, which offers second inning to retired professionals and enable them to make a mark for themselves post their retirement too.”

He added: “While QDB has been leading the growth of new age entrepreneurs, we believe that this class of the society is a driving force of the Qatar National Vision 2030, and deserve a special place because they have accumulated years of experience and expertise and the best way to gain insights is to further nurture their path to progress through this specially curated course. Through such endeavors, QDB is committed to support entrepreneurial activities through different entrepreneurial paths, including developing entrepreneurial cultures, building skills, and supporting growth.”

From his side, Mr. Turki bin Mohamed Al Khater, President of the General Retirement and Social Insurance Authority, said: 
'Our partnership with QDB is driven by our community responsibility and dedicated to serving retirees, supporting their projects and doing our best to meet their hopes and aspirations in every way. We continue our journey by announcing the fourth edition of the leading initiative “Khutwa”, which provides the retirees with new sources of income, thanks to the motivation and intensive training provided to invest into and manage small and medium enterprises. We seek to continue transforming ideas into specific programs. The organization renews its invitation to retirees to participate in all programs that benefit them and enhance their contribution to the development of the local economy, as a symbol of our gratitude for their service. We are optimistic about their ability to reach the desired results and achieve what we all aspire for and we wish success to all. '

The winners of “khutwa” program will be announced during a special ceremony, and the selection will be based on several criteria such as: the viability of applicant’s proposed project and attending training workshops.