INTERNATIONAL BANKS
Developing lines of expertise in supplementary fields such as trade and export financing have been crucial to keeping ahead of the competition in Qatar's highly sophisticated banking sector.
What expertise do you bring to the country?
ABDUL HAKEEM MOSTAFAWI As the largest international bank in the country, HSBC is uniquely positioned to offer customers with an international growth agenda the support to expand their businesses into other geographies. Therefore, our focus for retail banking is on customers that have banking needs in multiple countries and large corporations with cross-border growth ambitions. For multinationals and government-related entities, we are uniquely positioned to support growth ambitions with a sophisticated suite of financial instruments that include equity and debt capital market products. Our global liquidity and cash management offerings as well as global trade and receivable finance services have been recognized as best in class. HSBC securities services have played a key role in increasing foreign investment in the Qatar stock exchange.
SALAH JAIDAH We are an international bank that services clients with global operations here in Qatar; investment banking, corporate banking, and private wealth management are all part of the services we offer in the country. Our business facilitates the international, cross-border flow of capital both into Qatar from international investors and internationally for Qatari investors looking to access opportunities abroad. This is our core business here—to facilitate these cross-border capital flows, particularly from our European and, in particular, German client base. As an international financial services firm based in the Qatar Financial Centre, we endeavor to support Qatar's international financial commitments, particularly when it comes to publicly declared investment lines in Germany, Turkey, and Southeast Asia. We are monitoring these opportunities closely and stand by to provide our expertise in financial services, particularly cross-border trade and investment flows. Deutsche Bank in Qatar is part of a global network. Our role is to connect local clients to this network and bring the entire product suite of the bank in order to fully meet their needs. This is our differentiating factor, where we act to complement and expand on the services offered to local corporate and government clients.
What projects are on the horizon for the banking sector?
AHM The country is undergoing a dynamic economic transformation that is driven by the Qatar National Vision 2030. HSBC's strategy is closely aligned with the country's plans and the four pillars of QNV 2030. Not only do we support the business initiatives that are driving economic diversification; we also focus on human capital with a strong drive in developing Qatari talent in our own workforce. Through our corporate sustainability projects, we also support the entrepreneurial skills of young talents, such as the Tatawwar program that will give young innovators the opportunity to showcase their ideas for sustainable growth and innovation. Sustainable financing is a key focus, and we are a strong business partner for government-related entities as well as large corporations that invest in sustainable projects. Another great initiative to drive diversification is the establishment of free trade zones, and HSBC is providing expert advice as well as banking services to companies establishing branches and offices in these. Logistics and services directly related to the 2022 FIFA World Cup have also been a key focus and will remain a priority for the next two years.
SJ We work closely with all entities in need of foreign partnerships and access to international pools of capital and liquidity, including international suppliers, engineering firms, and others that have an interest in the development of local infrastructure. This is where we add value to local projects. We complement foreign firms, participate in joint ventures, and finance the provision of supplies for key infrastructure and other developmental projects. This is our core business in Qatar. Another important sector is export credit agency financing, where we work to match international developers of major infrastructure with local Qatari needs. In these cases, Deutsche Bank works with international and local partners to facilitate this developmental process. Our “Structured Trade and Export Financing" team, which is globally recognized as a leader in this field, often works in the development of infrastructure and logistics, which is also relevant to Qatar.
INTERNATIONAL BANKS
TABLE OF CONTENTS
Interview
Yousuf Mohamed Al-Jaida, CEO, Qatar Financial Centre (QFC) Authority
Given its successful performance in the last few years, QFC is optimistic it will be able to capitalize on Qatar's ongoing efforts to create a world-class business environment and attract more global companies.
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Lolwah R M Al-Khater, Spokesperson, Ministry of Foreign Affairs
The Ministry of Foreign Affairs is focused on pushing forward Qatar's foreign policy, sharing information and perspectives that could be useful for regional security and advancing the Qatari narratives on many issues facing the world today.
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Richard O’Kennedy, Vice President, Research, Development, and Innovation, Qatar Foundation
The first country in the world to track its citizens' genomes, Qatar is on track to make one of modern science's biggest breakthroughs by personalizing medical treatment and precision care.
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Jassim Saif Ahmed Al Sulaiti, Minister, Transport and Communications (MoTC)
With plans for a fully electric bus system and an impressive set of interconnected transportation options including metro, rail, and tram, the Ministry of Transport and Communication is shifting mobility into the next gear in Qatar.
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Sheikh Abdulla Bin Saoud Al Thani, Governor, Qatar Central Bank (QCB)
Encouraging local manufacturing, initiating self-sufficiency in dairy and farm products, expanding into new air and sea routes, offering select visa-free entry, and enacting fiscal reforms are but several of the successful reforms undertaken since 2017.
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Sean Kelly, Project Director, Place Vendôme
Place Vendôme is no ordinary mall: with 650 hotel rooms, a 6,000-sqm cinema with 18 screens, six slides, three toboggan runs, and an ice river opening in September 2020, it is looking to slide into Qatar's tourism infrastructure in time for the World Cup.
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Mehmed Zingal, General Manager, Turkish Airlines - Qatar
With its 30th year celebration of its Miles&Smiles club launch in Qatar, Turkish Airlines is acknowledging its continued diligence to provide the best customer service, with targets to increase customer happiness through innovative technologies and increasing tourism to Qatar for the future.
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Hassan Rashid Al-Derham, President, Qatar University (QU)
Ranked in the top-500 universities by the Times Higher Education, Qatar University improves students' academic success by supporting students throughout their academic lifecycle, from the pre-university stage to beyond graduation.
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A lesson learned
The international attention set to fall on Qatar over the coming years is significant only to the extent that it generates advances in human capital required by Qatar's blueprint, National Vision 2020, where local know-how and innovation advance the nation and promote wellbeing.
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Dr. Hanan Mohamed Al Kuwari, Minister of Public Health & Managing Director,, Hamad Medical Corporation (HMC)
The health minister is committed to continuing the growth of Qatar's healthcare system, with plans for more than 20 new facilities specializing in pediatrics, geriatrics, and mental health.
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