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Brie​f About The Service

Ithmar is an equity funding​ program compliant with the Islamic Shari'a. The program is an integrated and comprehensive approach that provides entrepreneurs with the required funds to establish a business in Qatar.

Objectives of Ithmar

The program aims to build a new generation of Qatari entrepreneurs or Qatari based companies by providing support and equity capital to Qatari entrepreneurs or Qatari based companies to help them start their business. By doing so, QDB promotes economic diversification in Qatar by enabling robust private sector business opportunities.

Funding Limit

QDB will fund up to 90% of the project (10% funded by the entrepreneur) with a maximum investment limit of QAR 1.825 million per startup.

Convertible Musharaka Contract

Ithmar is a Shari'a-compliant equity product that is structured through a convertible Musharaka agreement, and which works as follows:

  • QDB and the client will merge their capital with the aim of making profit, whereby the funding will be done through a convertible Musharaka contract that can later be converted into shares.
  • The convertible Musharaka contract is automatically renewed on an annual basis.
  • After conversion into shares, QDB​’s existing SME equity program criteria will apply.

Who benefits from Ithmar?​

  • Qatari based companies, Qatari individuals, or teams with active Qatari members, or founders must be above 18 years old, with a focus on innovative sustainable and scalable businesses.
  • ​The program includes all sectors (except trade, real estate and contracting).​​
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Key criteria for considerations

  • Clear investment objective: To have a clear understanding of the problem or challenge that needs a solution and how the business idea solves that problem or challenge.
  • Investment within priority areas: To be in one of the priority areas of investment, such as innovative business ideas and/or knowledge-based concepts with added value and potential to grow. Mostly, the area of focus is on the delivered services to the customers.
  • Proven concept with ready MVP: To have a tested MVP or clear service concept that evidently leads to solving concerned problem challenge identified.
  • Customer validation: To have a clear market understanding and business model including the monetization plan. Knowing what are the strengths and weaknesses of the business and the opportunities and threats in the market.​
  • Business growth outlook: To have a clear business and risk mitigation plan. The plan needs to include the growth dimension, in order to scale the business to regional and potentially international markets.
  • Qualified management team: To have a qualified management team which possesses both management and technical knowledge, good level of commitment.
  • Capital contribution: To be able to contribute a minimum of 10% of the total investment capital required.

* Applicants should note that they will go through an evaluation process by our team of experts in order to determine the feasibility of the project.


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