QNB has played a key role in the development of the country’s financial and banking system since its inception, HE the Minister of Finance Ali Shareef al-Emadi has said.
He was speaking at QNB’s 50th anniversary celebrations, held under the patronage of HE the Prime Minister and Minister of Interior Sheikh Abdullah bin Nasser bin Khalifa al-Thani, at the St Regis last night.
Al-Emadi said: “Basic banking transactions such as deposits and loans were provided at the beginning in 1964, and evolved and transformed into the financial system that operates today. We now offer a service that operates both to the best international practices and the latest financial and banking technologies. These were major factors in the selection of QNB as ‘The World’s Strongest Bank’, in 2013 by Bloomberg Markets.”
He said: “Today’s celebration, marking the golden jubilee of QNB, is a historical occasion to recall how we started the establishment of the first Qatari bank. Thanks to the sincere efforts and dedication of five generations, the bank has become a leading international financial institution.”
QNB’s acting group CEO Ali al-Kuwari said: “Today, when we reflect and celebrate on 50 years of dedication and excellence, we must also have our eyes firmly focused on tomorrow. We must prepare for another five more decades of achievements to come. To live up to this promise, QNB has outlined our ambitious strategy to transform from a strong local and regional bank into a leading global financial institution.
“QNB’s strategy will focus on two main areas to achieve further growth and expansion. The first phase will deal with expanding the bank’s global presence through entering new markets in the Middle East, Africa, Europe and South East Asia. This expansion aims to increase QNB’s international network contribution to represent 50% of the group’s total assets and profitability.
“The second phase will focus on expanding the operations of QNB’s international network. There is high potential for growth in the group’s existing network presence, currently operating across 26 countries and three continents... .”
A documentary, highlighting QNB’s achievements since its inception in 1964, was screened at the event.
The event was attended by ministers, VIP’s, business dignitaries and company presidents. Among them were the presidents of both Tokyo Mitsubishi Bank and Deutsche Bank. The event was also attended by the bank’s long-serving employees and customers.