Commercial Bank launches online trade portal for large corporates and SMEs

This unique system enables Commercial Bank’s customers to complete trade transactions online while simultaneously accessing a wide range of features. Customers can now apply for trade products such as Letters of Credit, Bank Guarantees, Export and Import Collection through a fully secure, user-friendly online trade portal. The solution also provides reports and statements allowing customers to view and amend transactions without having to physically visit the branches. ​

The online trade portal has been designed for convenience and reduced turnaround times for corporate customers. Earlier this year, Commercial Bank conducted a session for some of its key large corporate customers, introducing the online trade portal. The easy and convenient online solution has been well received and customers have been actively using it, thereby reducing processing time and administrative work and increasing efficiency. Enterprise Banking, Commercial Bank’s dedicated unit for Small and Medium Enterprises (SMEs) has also recently hosted a select group of its customers at the Commercial Bank Majlis at the Doha Golf Club, to introduce the features of the online trade portal, as well as conduct a workshop on International Trade.

Sujata Zinzuwadia, Head of Marketing & Sales, Enterprise Banking welcomed the workshop participants, advised them on the comprehensive and tailored products and facilities offered by Enterprise Banking to SMEs in Qatar. The introduction to the online trade portal and trade workshop was conducted by Shilpa Rodrigo, Senior Manager Trade Finance Operations in Commercial Bank. Shilpa has more than 20 years of International Trade banking experience across the Gulf region.  

An interactive presentation was made highlighting Commercial Bank’s extensive experience in global banking and trade, including insights on real-life practices related to risks. It gave participants an overview of the recent changes made to Uniform Rules for Customs and Practices in international trade. Topics such as the different payment methods available in international trade and trade frauds were also discussed. The presentation emphasised Commercial Bank’s roles and responsibilities in making Trade and other products available for its trading clients to manage their daily needs. 

In addition, and in light of the 2022 FIFA World Cup and National Vision 2030 plans, opportunities and challenges facing SMEs and their preparedness were discussed. Ways to grow and sustain their businesses within the framework of increased investments currently being witnessed in Qatar were also addressed. The workshop was well attended by a select group of business owners, key decision makers, accountants, and analysts from Commercial Bank’s Enterprise Banking customers.

Commercial Bank regularly hosts customer workshops on topics relevant to the growth of SMEs in Qatar. These workshops provide a platform for Enterprise Banking customers, to meet and discuss with their peers on various matters and generate new ideas to benefit their business. Commercial Bank is committed to comply with Qatar’s National Vision 2030, which places emphasis on supporting the growth of SMEs as being the key constituent of the country’s economic future and diversification.

 “Commercial Bank’s commitment to SMEs through a dedicated unit providing value added services and tailored solutions, including workshops such as this one, is a clear testament of our interest to support the growth and success of SMEs in the country. We will continue to host such workshops in the future, based on our customers’ needs and as part of our commitment to contribute to the overall Qatar growth story,” said Kenneth John Clark, Head of Enterprise Banking at Commercial Bank. 

Customers interested in attending future workshops or learning more about Commercial Bank’s Enterprise Banking and trade products and services can e-mail enterprise@cbq.qa or call +974 4449 5588.