All future IPO applications of QNB customers can now be completed in minutes through the newly created electronic Initial Public Offering services subscription.
To benefit, all that is required is a one-time registration with QNB. Customers can then apply for all future IPOs, 24 hours a day, via QNB's Internet Banking, SMS or ATM facilities. QNB customers can also register up to 15 family members at the same time, plus register for a pre-approved loan of up to 65% of their future IPO application value. This loan facility will then be available at the time of all future IPO applications if the customer requires the loan.
The previous years have witnessed a tremendous increase in the volume of activity at the Doha Stock Market. This, together with QNB's extensive experience of managing IPOs, identified a need to provide customers with a significantly improved application process to eliminate the need to visit bank branches and complete the same information for every IPO. Now, QNB customers need only to register once.
The launch of this service is particularly timely, as QNB has been successfully participating in various IPO's and related ventures such as share allocation with corporations that include Al Meera Hypermarket chain, Qatar Gas Transport Limited (NAKILAT), Al Rayyan Bank etc.
The launch of this new service encompasses the QNB's brand vision 'Together Forward'. As a part of the Bank's commitment towards serving both existing customers and encouraging non-customers to be a part of the QNB family and benefit from this service. All that is required is an account at any QNB branch.
In order to assist customers to understand the many benefits of the new hassle-free IPO application process hands-on, QNB will conduct demonstrations at City Centre, Hyatt Plaza, Landmark and Villagio malls between 10am and 10pm starting on 18 March 2007. QNB representatives will handle queries and explain in detail how easy all future IPO applications can be for QNB customers.
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QNB introduces the new electronic IPO subscription to the market
- Qatar: Saturday, March 17 - 2007 at 13:58
- PRESS RELEASE
Qatar National Bank (QNB) announced the launch of a new service which facilitates the fastest and easiest Initial Public Offering (IPO) application process.
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Qatar National Bank (QNB)Qatar National Bank (QNB) was established in 1964 as the country's first Qatari-owned commercial bank, with an ownership structure split between the Government of Qatar (50%) and the private sector (50%).
QNB has steadily grown to be among the largest banks in the region and is by far the leading financial institution in the country with a market share approaching 45% of banking sector assets. QNB has the largest distribution network of 37 branches and offices, in addition to 6 Islamic branches, and more than 100 ATM's.
QNB international presence is rapidly expanding with new locations in Singapore and Libya, Oman, Kuwait and Yemen, supplementing existing branches in London and Paris and a Representative Office in Iran. The London-based Ansbacher, QNB's Wealth Management and Private Banking subsidiary, operates in Switzerland, Channel Islands, the Bahamas, Dubai International Financial Center and Qatar Financial Center. Ansbacher, was the first financial institution to be granted a license to operate at Qatar Financial Centre providing a wide range of wealth management services in Qatar and the region.
QNB offers a full range of retail, corporate, investment, treasury, wealth management, and Islamic banking products and services for individuals, corporate institutions and government entities. QNB is constantly striving to provide intelligent banking solutions and its range of products and services, and delivery channels across all disciplines continues to be unrivalled.
Through its affiliate, QNB Al Islami, QNB was the first commercial bank in Qatar to offer Islamic Banking products and services, and the first Qatari bank to launch equity funds (Al Watani Funds) for companies listed in the Doha Securities Market.
QNB has the highest credit rating among Qatari banks from leading rating agencies including Standard & Poor's, Moody's, Fitch, and Capital Intelligence. The Bank has also been the recipient of the "Best Bank in Qatar" Award from leading international specialized financial publications. .
QNB has an active community support program and sponsors various social, educational, and sports events.
The Bank is the official sponsor of the four major sports in Qatar which include Football, Basketball, Handball, and Volleyball.
For further information, please contact QNB's Public Relations Department at (974) 4407828 - 4407109
Posted by Lara Lynn Golden, News EditorSaturday, March 17 - 2007 at 13:58 UAE local time (GMT+4)
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