First Finance Company, a subsidiary of Barwa Bank Group, has announced that it has postponed payment instalments for registered small and medium-sized enterprises (SME). FFC’s decision to postpone finance instalments and documentary credits dues of its SME customers without additional feeds or profits goes into effect starting March 16, 2020, for a period of 6 months. First Finance Company will liaison directly with registered SMEs wishing to defer instalments.

The new policy is adopted in line with the decision of the Supreme Committee for Crisis Management to combat (COVID-19(and in response to its negative impact on the economy to help ease financial strains on new and upcoming local businesses during the current period.

First Finance Company provides financing for SMEs in Qatar with plans up to QAR 15 million, offered up to a maximum range of five years. First Finance Company focuses on meeting the financial needs of customers through top-quality and full range of Shari’ah compliant financial services. Its aim is to continuously serve Qatari nationals, residents and a large portion of SME’s fulfilling the needs of its customers.

Source: Press release

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Binu Cherian

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