IBQ speaks about Qatar’s banking scene at the Spain-Qatar Business Meeting

IBQ shared key insights on Qatar’s banking sector with over 100 leading Spanish companies during the Spain-Qatar Business Meeting which is being held in Doha between the 24^th and the 26^th of October 2011 at the Grand Hyatt hotel. IBQ is also the exclusive Bank Sponsor of the event and the annual Platinum Sponsor of the Spanish Business Council in Qatar.

Muhannad Kamal, Assistant General Manager, Wholesale Banking at IBQ, spoke to a high-level group of Spanish businessmen, during the first orientation session, about the continuously growing banking industry in Qatar and its central role in supporting the public sector. IBQ was also present through the B2B meetings to answer any questions on banking and facilities in Qatar.

The Spain-Qatar Business Meeting is organized by the Spanish Embassy in Qatar in co-operation with the Spanish Institute of Foreign Trade (ICEX), the Higher Council of Chambers of Commerce (CSC), the Spanish Confederation of Business Organizations (CEOE) and the Economic and Commercial Office of the Embassy of Spain in Qatar. It is considered by many to be the most important initiative launched by the ICEX to support the Spanish companies in their search for business opportunities in Qatar. A selection of 100 internationally recognised companies will be present during the meeting to explore co-operation opportunities with local companies.

George Nasra, Managing Director of IBQ said: “At IBQ, we aspire to be the Bank of Choice for international firms looking to launch their operations in Qatar. We have unparalleled market acumen coupled with a host of retail and corporate banking solutions which are customized to fit the needs of multi-national organizations. We are very proud to be associated with this event that builds on our annual sponsorship of the Spanish Business Council. We do recognize the significance of the opportunities such times in Qatar can bring to international businesses owing to the surge in major developments and infrastructure projects and therefore we are ready to welcome and support Spanish businesses with premium tailor-made products and services which help to provide a launch-pad for their operations in the country.”

Muhannad Kamal, Assistant General Manager, Wholesale Banking at IBQ said: “IBQ is very well-placed to assist different international businesses in Qatar thanks to our leading position and withstanding experience in the domestic market. IBQ has a dedicated international business division that is able to support new business in Qatar with all the required banking facilities and our presence during such events accentuates our commitment to increase business in the country.”

Qatar and Spain’s economic relations have increased at a very fast pace in the last few years. More than 1,200 companies sell their products and services through their local partners every year in Qatar. Some 30 Spanish companies are present in the country through their representative offices.