COVID-19 NATIONAL RESPONSE GUARANTEE PROGRAM

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 12 month and repayment period of 24 monthly installment.

 

  • Application as per attached form or on company letter head or applicant.
  • Partners QID.
  • Active CR + computer card+ commercial license.
  • Rental agreement, valid and Authenticated before April 2020, or the service meter is registered in the tenant's name before April 2020, or 3 consecutive payments were made before April 2020 under rental agreement.
  • proof of the salary payment by submitting the last month WPS in form of excel sheet
  • Profit rate:

     

     

    Months 0 – 6  

    Months 7 – 12

    Year 2

    Year 3

    Total profit

    1.5%

    QMR + 1%

    QMR + 2%

    QMR + 2%

    QDB (acting on behalf of the Ministry of Finance) pays

    1.50%

    QMR + 1%

    0

    0

    Customer pays

    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:

qiib.ngp@qiib.com.qa

 

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