QFC in pact with Dukhan Bank to provide tailored services to firms

The Qatar Financial Centre Authority (QFCA) has entered into a memorandum of understanding (MoU) with Dukhan Bank (DKB), one of the largest Shariah-compliant banks, to pursue certain areas of collaboration that benefit both parties.

The MoU establishes a framework for positioning the bank as a strategic partner for new and existing QFC-licensed firms and their employees on a non-exclusive basis.

This collaboration includes co-branding a temporary shared physical space within the QFC premises; allowing Dukhan Bank to effectively serve QFC-licensed firms and their staff, as well as promoting DKB offers specifically tailored for QFC firms.

Under the MoU, the lender will provide corporate banking accounts and create customised banking solutions for new QFC-licensed firms referred by the QFCA once obtaining their corporate registration credentials.

Additionally, the bank will offer immediate banking services to all employees of these firms who are new to Qatar.

"This MoU with Dukhan Bank represents a significant step towards enhancing the financial services available to QFC-licensed firms. By providing tailored banking solutions and a dedicated space for their needs, we are creating an environment that fosters growth and innovation within the QFC community. Together, we are fostering a more robust financial ecosystem in Qatar," said QFCA chief executive officer Yousuf Mohamed al-Jaida.

Ahmed I. Hashem, acting group chief executive officer of Dukhan Bank, said the MoU helped the bank to offer tailored banking services that meet the unique needs of QFC-licensed firms and their employees.

"This collaboration underscores our commitment to delivering innovative Shariah-compliant financial solutions that support the growth and success of businesses in Qatar. By combining our expertise with QFC's strong business platform, we aim to enhance the ease of doing business and contribute to building a dynamic and thriving financial ecosystem," he said.