Doha-Mubasher: Nakilat signed a memorandum of understanding (MoU) with Qatar Development Bank (QDB) to collaborate in areas including marine export credit insurance and financing, according to a bourse filing on Monday.

QDB and Nakilat agreed to jointly support local small and medium enterprises (SMEs) by encouraging entrepreneurs to set up new Qatari companies that specialise in marine and shipyard-related industries.

Nakilat managing director Abdullah Al Sulaiti reaffirmed the company’s commitment to the growth and development of the sector.

The largest LNG ship owner in the world “Nakilat” is Qatar’s transport arm in the liquefied natural gas (LNG) industry. Meanwhile, Qatar Development Bank (QDB) is a state-owned entity which invests in and develops local industries by supporting SMEs inside the country.