NUMBER ONE

Qatar 2019 | FINANCE | INTERVIEW

TBY talks to Abdul Hakeem Mostafawi, CEO of HSBC Qatar, on the Finance sector.

Abdul Hakeem Mostafawi
BIOGRAPHY
Abdul Hakeem Mostafawi assumed the role of CEO of HSBC Bank Middle East Qatar in 2008, becoming the first Qatari national appointed to this position. His 27 years of overall banking experience include roles in corporate, commercial, and retail banking with HSBC in Qatar.

With updated legislation for FDI in Qatar, how well is HSBC positioned to assist investors?

HSBC has been present in Qatar since 1954 and has built extensive knowledge and understanding of the market here. We operate in 66 markets around the world, with a geographic footprint that covers 90% of global GDP, trade, and capital flows. Indeed, our network covers all the world's 30 largest trade corridors forecast out to 2030, which positions us well to support companies looking to establish operations in Qatar and grow internationally. Our expertise in trade services and corporate advisory is of particular value to customers that need international connectivity. The new Free Trade Zones in Umm Al Houl and Abu Fontas also open up a number of opportunities for foreign investors, and we are well connected with the relevant parties there. Our involvement in similar projects around the world, whether in Asia, Europe, or the Middle East, gives us a strong competitive advantage when it comes to serving enterprises across geographies and facilitating international trade and capital flows to help our clients grow their businesses.

Qatar is working to become an enhanced hub for trade and re-export. What services can HSBC offer to exporters?

We offer a full range of trade and receivables finance products that include export documentary credits and collections, as well as export loans. We work in collaboration with fintech companies and other banks and regulators and have created market-leading digital solutions that are convergent, flexible, and modular and enable us to meet clients' needs. Trade Tracker is one such example, a mobile application that gives customers access to their trade transactions in real time on their phones. As the world's leading international bank and the global leader in transaction banking—we have been ranked number one in trade finance, foreign exchange for corporations, and liquidity and account management—we support our clients with unparalleled access to high growth markets and the trade corridors that link them.