QFC, QNB Group collaborate to enhance business banking access
<p>Doha: The Qatar Financial Centre (QFC) and QNB Group have signed a Memorandum of Understanding (MoU) to facilitate access to banking services to QFC-licensed firms and explore opportunities to support the development of Qatar's capital markets.</p> <p>The agreement brings together QFC's role in attracting and supporting businesses operating in Qatar with QNB Group's banking and financial…
In a strategic partnership, Qatar Financial Centre (QFC) and QNB Group have signed an agreement to enhance banking services for QFC-licensed firms and support Qatar's capital markets development. QFC's Chief Executive Officer, Mansoor Al Khater, stated that the collaboration aims to simplify banking access for new firms and bolster the capital markets they depend on as they expand.
QNB Group's Group Chief Executive Officer, Abdulla Mubarak Al Khalifa, emphasized that the partnership will provide financial infrastructure support for businesses entering, operating, and growing in Qatar.
Under the Memorandum of Understanding (MoU), QFC will promote QNB as a strategic partner bank and refer newly licensed firms to QNB for corporate account opening. QNB will offer its banking and financial services, including corporate accounts, digital access, and financing solutions, to QFC firms and employees. The two organizations plan to integrate their digital platforms, allowing seamless account openings through the QFC online system.
On capital markets, QFC and QNB will explore cooperation in Euro Medium Term Note (EMTN) programs, Special Purpose Company (SPC) structures, financing platforms, treasury, liquidity management, and financing solutions. They also intend to investigate tokenisation and digital assets, setting up technical working groups to advance these initiatives.
Over the next year, the organizations will hold workshops, training sessions, industry roundtables, and participate in conferences and forums, aiming to position Qatar and the QFC as a regional and international capital markets hub.
Written by urgent.news from The Peninsula Qatar Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
