The opening of the new office is in line with QNB's plans to expand its international presence and enhance its international profile. The new representative office will allow QNB to source business in Libya for referral on to the wider QNB Group.
Mr. Ali Shareef Al Emadi, QNB's Acting Chief Executive highlighted: "This move will be of great value to QNB and to the Qatari economy at large as emerging opportunities will boost the business trade between Qatar and Libya. This accomplishment has been a major milestone owing to the distinguished relations between the two sisterly countries. Through the new representative office, QNB will help to better serve both Qatari and Libyan businesses in both countries."
"We are confident that both countries will benefit from this step and this new achievement will certainly brand QNB as a leading bank not only in Qatar, but also in the region," said Mr. Al Emadi.
QNB was recently granted official approval to establish full-fledged branches in Yemen, Kuwait and Oman, as well as a representative office in Singapore. In addition to its existing London and Paris branches, QNB has a Representative Office in Iran.
The fully QNB owned Ansbacher Group provides private banking and wealth management services through its offices in the United Kingdom, Switzerland, the Channel Islands, the Bahamas, Qatar Financial Center and the Dubai International Financial Center. With Libya, the QNB Group's international presence grows to 15 countries.
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QNB officially begins its operations in Libya
- Qatar: Saturday, April 14 - 2007 at 14:33
- PRESS RELEASE
Qatar National Bank (QNB) announced the opening of its representative office in Libya.
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About 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 38 branches and offices, in addition to 7 Islamic branches, and around 120 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, April 14 - 2007 at 14:33 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Tue May 01 2007.
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