It is a program to help mitigate the negative impact of Covid-19 on the private sector to help the private sector employers for the next six months.
The program covers:
First: Staff payroll as per the Wage Protection system registry (WPS) for a period of up to 6 months paid on a monthly pro-rata basis starting from month of March 2020, max of 10,000 QAR per employee.
Second: Rental fees (factory, business outlet, warehouse and labor accommodation rent) for a period of up to 6 months paid on a monthly pro-rata basis starting from month of March 2020.
--Max finance for each company 2,500,000 QAR. / month.
-For each Qatari ID to apply as many applications for companies subject that total monthly amount not exceeding 2.5 million QR.
-The eligibility for the company is linked to the Qatari ID, and the same company is not allowed to be applied by another Qatari ID.
Main Condition: the company must already use WBS system through our bank.
The following sectors are not allowed to benefit from the program:
All companies operate in the real estate, food stuff trading & medical supplies
-Maximum can reach to grace period of 24 month and repayment period of 24 monthly installment.
- Additional support is provided to locked down sectors by increasing
funding ticket up to 15 M to cover salaries and rent
Profit rate:
|
Months 0 – 6 |
Months 7 – 12 |
Year 2 |
Year 3 |
Year 4 |
Total Profit |
1.5% |
QMR + 1% |
QMR + 2% |
QMR + 2% |
QMR + 2% |
QDB (acting on behalf of the Ministry of Finance) pays |
1.5% |
QMR + 1% |
QMR + 2% |
0 |
0 |
Customer pays |
0 |
0 |
0 |
QMR + 2% |
QMR + 2% |
Personal guarantee as per QCB guidelines (upon approval of the guarantee)
Kindly submit and follow your application via email as the following:
To download the Customer Application Form - COVID-19 National Response Guarantee Program please click here
To know more details about restricted sector list please click here
Locked Down Sectors click here