Tag Archives: Doha Bank

FREE TRADE AGREEMENT (FTA) CAN GIVE A BOOST TO GCC- UK BILATERAL RELATIONSHIPS

FREE TRADE AGREEMENT (FTA) CAN GIVE A BOOST TO GCC- UK BILATERAL RELATIONSHIPS
Dubai, May 03, 2017: The Union of Arab Banks hosted the International Banking Summit “IABS 2017” on 2nd May 2017 at London Hilton, London, UK. The theme of the event is “Finance in an Unpredictable World”. The Senior Staff of various Central Banks across Middle East and Senior Staff of Middle-east Banks were present at the event.
Dr. R. Seetharaman, CEO of Doha Bank participated in the session “BREXIT: The changing economic and financial relationships between the UK and the EU”.

He gave insight on UK- EU trade relationships and GCC- EU relationships. He said “44% of UK exports in goods and services went to other countries in the EU in 2016 out of £550 billion of its total exports. 53% of imports into the UK came from other countries in the EU in 2016. The future rules on trade will depend on what kind of agreement the UK reaches with the EU. EU-GCC total trade in goods in 2016 amounted to €138. 6 billion. In 2016, EU exports to the GCC amounted to €100.8 billion. In the meantime, EU imports from the GCC accounted for only €37.8 billion, generating a significant trade surplus for the EU.

Qatar has stake in major European companies such as Volkswagen, Porsche and Glencore. Abu Dhabi has invested in industrial services provider Forrestal, and German shipyard companies. The financial services sector will be alert to the developments from Brexit. The Financial services had got regulated after the global financial crisis. The new US leadership is contemplating re- regulation of the financial services industry and it needs to be seen how this can impact the Industry. ”
Dr. R. Seetharaman highlighted on GCC- UK bilateral relationships. He said “In 2015 bilateral trade between the UK and GCC reached £30 billion. The British government will be keen to expand its trade, commercial and investment ties with the Gulf States and will find willing partners in the region. The road ahead for a free-trade agreement (FTA) seems to be open between both the blocs, particularly as the GCC already has similar agreements with many countries and blocs. The fast-growing Gulf markets are seen as an important outlet for British exports. This gives UK exports a competitive edge and achieving remarkable gains though its imports from the GCC such as petroleum, petrochemical and aluminum products. ”
Dr. R. Seetharaman gave insight on Qatar- UK relationships. He said “Qatar’s Strategic Trading Partner as UK’s total exports to Qatar amounted to 2.6 billion pounds in 2015, representing an increase of 16% from 2014, while Qatar’s exports to the United Kingdom have doubled to reach 2.7 billion pounds during the same year. In Oct 2016 Qatargas has signed a five-year liquefied natural gas sale and purchase agreement (SPA) with Petronas LNG UK Limited (PLUK). Under the terms of the SPA, Qatargas will deliver LNG to PLUK until Dec. 31, 2023.

Qatar has a large portfolio of investments in the UK, covering a wide range of investments such as the Shard skyscraper, the Olympic Village, the Shell Centre, the US Embassy in Grosvenor Square, shareholdings in Barclays, Sainsbury’s and BAA, as well as ownership of Harrods departmental store. Qatar Investment Authority committed an additional £5 billion in the UK this year. This will invest in transport, property and digital technology. ”
Dr. R. Seetharaman highlighted on opportunities for UK in Qatar. He said “Many other British companies are also active in Qatar’s infrastructure projects, in particular architectural firms, design, project management and engineering consultancy. Transport, construction are two sectors which witness activity this year. Majority of companies in the UK are SMEs so they have a very strong entrepreneurial culture in driving forward because they are the ones who employ people. They can support Qatar to look at various issues where UK have vast experiences. The UK has considerable experience in the area of public private partnerships, which enable the public sector to access the discipline, skills and expertise of the private sector, and for many years has been home to one of the world’s largest and most experienced PPP markets. Qatar is planning to introduce a new law governing the use of public-private partnerships (PPPs) as the government looks to ease the strain of funding a pipeline of projects. The UK can show how collaboration with the private sector can lead to innovation in public sector services.”
About Doha Bank
Doha Bank is the largest private commercial bank in the State of Qatar. It was incorporated in 1978 and commenced its banking business (including its International Banking services) in Doha, Qatar on March 15, 1979.
As one of Qatar’s leading financial services company, Doha Bank is committed to making banking work for customers and clients like it never has before. Through innovative technologies and the ingenuity of its people, Doha Bank provides individuals and commercial, corporate and institutional clients across Qatar and even internationally, new and better ways to manage their financial lives.

The company enables customers to do their banking and investing whenever, wherever and however they choose through an extensive network, and multiple access channels.
The Dubai branch of Doha Bank was opened in 2008.

WEALTH PROTECTION AND CREATION ARE INTEGRAL PART OF GROWING BANKING BUSINESS MODELS

WEALTH PROTECTION AND CREATION ARE INTEGRAL PART OF GROWING BANKING BUSINESS MODELS
Dubai, April 23, 2017: Doha Bank hosted a knowledge sharing session “enhancing customer value through wealth management” on 19th April 2017 at its Doha Bank Auditorium in Doha Qatar. The Guest of honour at the event was Qatar Exchange CEO, Rashid Bin Ali Al Mansoori. The Speakers at the event include Mr. James’ Robertson, Head of Corporate and Wealth Managing Partner Taylor Wessing LLP, Mr. Fahmi Algussein, CEO, Amwal, Mr. Rami Jamal, Portfolio Manager, Amwal and Mrs. Nicole Perry Associate Director of Investment, Grant property.
Dr. R. Seetharaman, CEO of Doha Bank gave the concept note. He said “According to IMF April 2017, Global growth is projected to rise from 3.1 percent in 2016 to 3.5 percent in 2017. Advanced economies are now projected to grow by 2 percent in 2017. Emerging and developing economies growth at 4.5 percent for 2017. We have seen geopolitical developments increasing in the global space. We have also seen announcement of elections in UK in June 2017. The forthcoming French elections is also an important development to watch. Qatar growth expected to be at 3.4% this year. In response to fed action most of the GCC central Banks have hiked rates in last December and in March this year. Some of the GCC Sovereigns such as Saudi Arabia, Kuwait and Oman have come up with bond issues this year and fiscal reforms are going to continue in GCC. The progress is also happening on VAT implementation across GCC. There are risks associated with political uncertainty, trade frictions and effects from a volatile dollar. We’re entering a new stage of international global relations where national policies could shape how globalization eventually develops. Global financial wealth in the world is close to$168 trillion. The Middle East North Africa was at $8 trillion. GCC is home to more than 4,500 ultra-high net worth (UHNW) individuals. Out of Global SWF wealth assets worth $6.5 trillion, GCC SWFs have assets close to $3 trillion.”
Qatar Exchange CEO, Rashid Bin Ali Al Mansoori gave insight on developments in Qatar. He said” Qatar Exchange had got MSCI in 2014 and we are still strong despite the low oil price. We are planning to introduce a number of products this year which will improve the investor’s participation. We are also having a well regulated environment for the benefit of investors. ”
Mr. James Robertson, Head of Corporate and Wealth, Managing Partner, Taylor Wessing spoke on “Financial and Succession Planning.” He covered issues for clients such as UK property tax changes, Safe havens and offshore jurisdictions, Citizenship and visa matters and importance of trust and family institutions. He gave insight on Stamp duty land tax in UK and post Brexit trends. He also highlighted how global affairs could be planned in the light of relevant visa matters.”
Mr. Fahmi Algussein, CEO, Amwal gave insight on “The Crown Jewels of EM “. He gave insight on GCC economies and their economic fundamentals. The long term growth is going to be driven by region’s diversification initiatives as well. He also highlighted on Saudi capital market reforms and other fiscal reforms. He gave comparison between GCC markets and global markets on various parameters.”
Mr. Rami Jamal, Portfolio Manager, Amwal gave insight on Qatar economic fundamentals and the benefits of Exchange traded funds (ETFs), its comparison with mutual funds and stocks. He also explained Qatar Exchange trade funds (QETF)’s key features.
Ms. Nicole Perry Associate Director of Investment, Grant property gave insight on UK economy fundamentals and the key attributes such as globalized economy, diverse population, stable nation and world class education system. She also gave insight on UK residential market outlook post Brexit and the potential opportunities.
About Doha Bank

Doha Bank is the largest private commercial bank in the State of Qatar. It was incorporated in 1978 and commenced its banking business (including its International Banking services) in Doha, Qatar on March 15, 1979.

As one of Qatar’s leading financial services company, Doha Bank is committed to making banking work for customers and clients like it never has before. Through innovative technologies and the ingenuity of its people, Doha Bank provides individuals and commercial, corporate and institutional clients across Qatar and even internationally, new and better ways to manage their financial lives.

The company enables customers to do their banking and investing whenever, wherever and however they choose through an extensive network, and multiple access channels.

The Dubai branch of Doha Bank was opened in 2008.

DOHA BANK ACHIEVES 2.9% PROFIT GROWTH WITH IMPRESSIVE RATIOS

DOHA BANK ACHIEVES 2.9% PROFIT GROWTH WITH IMPRESSIVE RATIOS
Dubai, April 19, 2017: His Excellency Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani, Chairman of the Board of Directors of Doha Bank, announced Doha Bank’s financial results for the first quarter of 2017. Net profit for the first quarter of 2017 recorded an impressive QAR 364 million as compared to QAR 354 million for the same period in 2016 showing an increase of 2.9%. H.E. Sheikh Fahad said “This is another outstanding result and is clear demonstration that Doha Bank continues to perform consistently.”

The Bank increased net operating income by 1.0% to QAR 724 million. Total assets increased by QAR 6.1 billion, a growth of 7.2%, from QAR 84.6 billion as at 31 March 2016 to QAR 90.7 billion as at 31 March 2017. Net loans and advances increased to QAR 59.5 billion as at 31 March 2017 from QAR 56.8 billion for the same period last year, registering a growth of 4.6%. Customer deposits showed a year on year increase of 5.0% from QAR 51.4 billion to QAR 54.0 billion as at 31 March 2017 which is evidence of the strong liquidity position of the Bank.

H.E. Sheikh Abdul Rehman Bin Mohammad Bin Jabor Al-Thani, Managing Director of Doha Bank said “The Bank has become extremely strong over the years with total equity, as at 31 March 2017, at QAR 13.0 billion, registering an increase of 2.0% during the last twelve months. Through the strategic utilization of the shareholder’s funds by way of increasing our performance levels the return on average shareholders’ equity is 16.3% as at 31 March 2017 one of the best in the industry. The Bank, given the scale of operations, has achieved a very high return on the average assets of 1.61% as at 31 March 2017 which is a clear demonstration of the effective utilization of shareholder’s funds and optimum asset allocation strategies”.

In light of the bank’s strong performance, Doha Bank approved and distributed 30% cash dividend to the shareholders for the year 2016. During the quarter, the EGM agreed to increase the bank’s capital by 20% by way of a Right’s issue. Dr. R. Seetharaman, Chief Executive Officer of Doha Bank, said “Despite the challenging market conditions, Doha Bank’s strong performance throws light on its superior products and services, ongoing customer demand, capitalizing on market synergies.”

Doha Bank continued its growth through key innovations, achievements and initiatives. In the first quarter of 2017, the bank has unveiled a new first-of-its-kind mobile application ‘Doha Bank My Book Qatar’. The app is an ever-growing source of deals and voucher schemes that cover dining, beauty and wellness, leisure activities, health services and kids’ activities. Furthermore, to meet customer expectations, the bank has launched new international Money Transfer to 200+ countries via Mobile, improved customer experience on log-ins and payments on the mobile app, a new home loan campaign with attractive interest rates and grace period. In addition, the bank has relocated its Airport road branch during the quarter. During the year, Doha Bank signed an agreement with Mastercard to introduce a number of payment solutions in Qatar. Dr. R Seetharaman said: “This partnership is in line with Doha Bank’s overall strategy to bring the utmost value to employers and equally to payroll customers within the entire framework of the Wage Protection System (WPS) implementation.” The bank has also entered into a tie up with Ahli United Bank in Egypt for e-remittance services to existing and new customers.

In recognition of Doha Bank’s ability to maintain strong growth trajectory, total asset growth, loan growth and deposit growth year-on-year, Doha Bank’s credit ratings were re-affirmed by various credit rating agencies. Capital Intelligence affirmed Doha Bank’s current ratings, upgraded the Long-Term Foreign Currency Rating to ‘A+’ and revised the outlook to ‘Stable’. Additionally, Moody’s has assigned A2 / Prime-1 deposit rating to Doha Bank in their semi-annual update published in March. S&P has affirmed the BBB+ financial rating of Doha Bank Assurance Company, 100% owned subsidiary of Doha Bank Commenting on the ratings, Dr. R. Seetharaman said “These ratings recognizes Doha Bank’s sustainable business model in response to changing market conditions in Qatar and in overseas.”

During the quarter, Doha Bank held a knowledge sharing session in Qatar on the topic ‘Changing International Dynamics on Foreign Policies and Allied Opportunities’. This was preceded by Breakfast Meetings with the theme ‘Financial & Business Solutions for SMEs’ and a business meet in South Korea, which was well attended by senior government representatives and business community. In addition, the Bank participated in a panel discussion focusing on the topic of ‘E-Commerce as a tool for better SME integration into Global Value Chains’. Furthermore, the Bank has also conducted an SME camp at one of their key branches to address customer needs and identify new prospects.

Through participation in career fairs, Doha Bank is committed to hiring the best talent in the country. During the quarter, the bank participated in the career fairs organized by Qatar University and Community College. The Bank also participated in career fairs held in Kuwait and Dubai. As part of employee engagement, the Bank organized various sports events involving the staff with their families.
During the quarter, Doha Bank was awarded the ‘Best Commercial Bank, Qatar 2016’ at the International Financial Magazine Awards 2016 and two awards at the EMEA Finance Middle East Banking Awards 2017 – ‘Best Local Bank in Qatar’ and ‘Most Innovative Bank in the Middle East’. Dr. R. Seetharaman lauded the efforts of the team and said, “Doha Bank has been at the forefront of developing leading banking solutions for our valued customers in Qatar and across the region.” Recently, Doha Bank was honored with ‘Golden Peacock Award for Corporate Social Responsibility in the Global Category’ by the Institute of Directors, ‘Best Trade Finance Bank’ at the Global Finance Awards 2017 and ‘Company of the Year Award’ by Qatar University. Making it 10 years in a row, Doha Bank has renewed the ISO 20000-2011 certification for its continuous compliance to global standard for IT Service Management.

As part of its commitment to society, environment and raising awareness of sustainable development issues, Doha Bank was involved in various activities during the year. Doha Bank organized the 12th edition of ‘Al Dana Green Run’ in January where in as many as 6000 residents supported the event. Earlier during the year, Doha Bank organized its annual ECO-Schools Programme awards, which aims to recognize schools that play an active role in propagating the concept of eco-consciousness amongst students and demonstrated a high degree of innovation and creativity in successfully completing their green projects as part of the Programme. Doha Bank also joined hands with Hamad Medical Corporation to hold blood donation drive. In its continued support of Earth Hour, Doha Bank participated by switching off the lights in its corporate headquarters and branches across Qatar.

About Doha Bank

Doha Bank is the largest private commercial bank in the State of Qatar. It was incorporated in 1978 and commenced its banking business (including its International Banking services) in Doha, Qatar on March 15, 1979.

As one of Qatar’s leading financial services company, Doha Bank is committed to making banking work for customers and clients like it never has before. Through innovative technologies and the ingenuity of its people, Doha Bank provides individuals and commercial, corporate and institutional clients across Qatar and even internationally, new and better ways to manage their financial lives.

The company enables customers to do their banking and investing whenever, wherever and however they choose through an extensive network, and multiple access channels.

The Dubai branch of Doha Bank was opened in 2008.

Doha Bank Re-ignites Qatar’s Property Market with New Loan Offer at 3.99% with 12 Months Payment Holiday

Doha Bank Re-ignites Qatar’s Property Market with New Loan Offer at 3.99% with 12 Months Payment Holiday


Dubai, April 13, 2017 – Doha Bank announced the launch of its new retail home loan offer which now features an interest rate of 3.99% for the first year. What makes this offer so irresistible is also the 12 months payment holiday offered to customers with a an option to get up to QAR 20,000 to offset the early settlement fees whenever you are transferring your home loan from another bank to Doha Bank.
With this limited time offer you will also get a free fire insurance for the first year, free management and mortgage fees, free mortgage saver account which pays you 1.25% p.a. interest rate up to QAR 2 million and free for life VISA Infinite or Platinum credit card. The bank will provide loans of up to 70% of property value for Qataris and Expats, with mortgage repayment periods of up to 20 years.
Now is the time to get your Housing Loan from Doha bank. The updated home loan offering features 4 product variants for discerning individuals and families. Qatari customers can obtain housing loans for ‘ready to sell properties’ or houses and villas under construction, while expatriates and Qataris can benefit from leasehold and freehold property purchases.
Dr. Seetharaman Doha bank group CEO said: “Our customers’ needs are paramount and we believe in launching products best suited and geared towards their expectations. Doha Bank recognizes that the property market is an important element of the Qatar economy. There has been overall stabilization of the real estate market this year, particularly in retail mortgage properties, and much of this can be attributed to current and future spending on infrastructure works, and reinvigorated real estate development in Qatar.”
Doha Bank Head of Retail Gul Khan added: “Doha Bank’s housing loan is the financing solution that anyone needs to buy the property that they have always dreamed off to call it home. The process for applying is easy and fast and is expedient for anyone searching equally for a great offer and a great service offered by all our housing loan agents.”
For more information or to speak to a customer service representative about acquiring a dream home at the lowest interest rate in Qatar, call +974-44456000 or visit any Doha Bank branch or log on to the bank’s website http://www.dohabank.com.qa.
About Doha Bank
Doha Bank is the largest private commercial bank in the State of Qatar. It was incorporated in 1978 and commenced its banking business (including its International Banking services) in Doha, Qatar on March 15, 1979.
As one of Qatar’s leading financial services company, Doha Bank is committed to making banking work for customers and clients like it never has before. Through innovative technologies and the ingenuity of its people, Doha Bank provides individuals and commercial, corporate and institutional clients across Qatar and even internationally, new and better ways to manage their financial lives.

The company enables customers to do their banking and investing whenever, wherever and however they choose through an extensive network, and multiple access channels.
The Dubai branch of Doha Bank was opened in 2008.

Changing dynamics make financial markets more volatile, says Doha Bank Group CEO

Changing dynamics make financial markets more volatile, says Doha Bank Group CEO
Dubai, April 11, 2017: Doha Bank hosted a knowledge sharing event titled “New world order and opportunities” at Jumeirah at Etihad Towers in Abu Dhabi recently. The speakers at the event were Mr. Craig Wing, Partner and Future Strategist at Future World and Mr. Kamal Sharma, Director & G10 FX Strategist, Bank of America Merrill Lynch Global Research.
Speaking at the event Dr. R. Seetharman, CEO of Doha Bank, gave insight on global economy. He said, “According to IMF Jan 2017 global growth is expected to be at 3.1 percent. Advanced economies are now projected to grow by 1.9 percent in 2017. Emerging and Developing economies growth is currently estimated at 4.5 percent for 2017. Recently we have seen Britain has triggered Article 50 and we need to see how Brexit negotiations shape up. We are yet to see progress on initiatives from US on tax and infrastructure. The Fed’s monetary tightening continues with its last hike this March. Interestingly most of the emerging economies financial markets are buoyant despite the fed action. At the recent Kuwait meeting the oil producers had agreed to review whether a global pact to limit supplies should be extended by six months based on review of oil market conditions. In response to fed action most of the GCC central Banks have hiked rates in last December and in March this year.

Some of the GCC Sovereigns such as Kuwait and Oman have come up with bond issues this year and fiscal reforms are going to continue in GCC. The progress is also happening on VAT implementation across GCC. Taking these developments into consideration we need to anticipate what policy shifts could do for the world and regional economic outlook. There are risks associated with political uncertainty, trade frictions and adverse effects of a rising dollar. The capital rules for Banking sector getting redefined and the financial markets are getting more volatile on account of the changing dynamics. We’re entering a new stage of international relations where national policies could shape how globalization eventually develops.”
Giving insight on key developments in the UAE economy, he said, “The UAE economy expected to grow by close to 3 percent. Non-oil sectors grew 3.6 percent year on year in 2016 and could grow further this year. The UAE banking sector had witnessed a lending growth of 5.2 per cent 2016 with private sector being a major contributor to growth close to 5 percent. Total investments in the UAE’s industrial sector rose to Dhs130 billion by end of 2016. As part of Abu Dhabi’s Economic Vision 2030, the contribution of the non-oil sector is aimed to be 64 per cent of GDP. Abu Dhabi in 2016 had set a target to double the size of its industrial base to 10 per cent of GDP by 2030. Abu Dhabi’s 10 biggest projects with a combined value of Dh134 billion are expected to be completed by 2020. The trade balance between Qatar and UAE had reached $7bn in 2015. Qatar and UAE look for diversifying investment opportunities in the tourism, logistics and IT sectors. In Abu Dhabi affordable housing witnessed significant activity in 2016. The economic diversification in UAE is expected to continue amidst low oil prices which contributes to resilience of UAE economy.”
Mr. Craig Wing spoke on “Thriving inside the perfect storm”. He highlighted the emerging trends from digitization, climate change. He gave insight on internet breakthrough and on internet of things and impact from artificial intelligence. He also gave comparison between bitcoin and gold. The impact of experienced economy and how to embrace future.
Mr. Kamal Sharma spoke on “Tweets and Tuns”. He gave insight on significant global developments, key factors impacting US dollar, US actions on growth, protectionism and tax cuts. He also highlighted that “Hard Brexit” looms and developments impacting, Pound, Euro and Yen.

About Doha Bank
Doha Bank is the largest private commercial bank in the State of Qatar. It was incorporated in 1978 and commenced its banking business (including its International Banking services) in Doha, Qatar on March 15, 1979.
As one of Qatar’s leading financial services company, Doha Bank is committed to making banking work for customers and clients like it never has before. Through innovative technologies and the ingenuity of its people, Doha Bank provides individuals and commercial, corporate and institutional clients across Qatar and even internationally, new and better ways to manage their financial lives.
The company enables customers to do their banking and investing whenever, wherever and however they choose through an extensive network, and multiple access channels.
The Dubai branch of Doha Bank was opened in 2008.

Doha Bank illustrates strong reputation with key award at EMEA Finance Middle East Banking Awards 2017

Doha Bank illustrates strong reputation with key award at EMEA Finance Middle East Banking Awards 2017

Award for ‘Most Innovative Bank in the Middle East’ shine a light on Doha Bank’s leading banking solutions

Dubai, April 02, 2017: Doha Bank, one of the largest commercial banks in Qatar, illustrated the competitiveness of its banking services by bagging a key trophy at the ‘EMEA Finance Middle East Banking Awards 2017’ in the category of the ‘Most Innovative Bank in the Middle East’.

The coveted awards have a heritage of highlighting top accomplishments of the region’s leading financial institutions, and assesses the products and services of commercial and investment banks, Islamic banks, private banks, asset managers and brokers, and leading law firms in the Middle East.

In its ninth edition, the awards celebrated Doha Bank’s contributions towards strengthening the financial landscape in Qatar and the wider region. The ceremony was held at the Conrad Hotel, and Doha Bank was represented by Mr. Nael Zahi Rashed El – Zagha and Mr. Alaga Raja – Heads of Dubai and Abu Dhabi branches.

Dr. R. Seetharaman, Group CEO of Doha Bank, lauded the efforts of the team: “Doha Bank has been at the forefront of developing leading banking solutions for our valued customers in Qatar and across the region. Earning the reputation of being one of the leading financial institutions in the country comes with the responsibility of constantly evolving with changing demands and introducing in-trend products and services. It is this responsibility, coupled with our relentless dedication to understanding customer needs, collaborating with stakeholders and investing in research, that helps us usher in innovative solutions that empower customers to bank with convenience and safety.”

He added: “We are extremely delighted on winning this key trophy at the EMEA Finance Middle East Banking Awards 2017, which will motivate us to bring more resilience to our business and bolster stakeholder confidence.”

About Doha Bank
Doha Bank is the largest private commercial bank in the State of Qatar. It was incorporated in 1978 and commenced its banking business (including its International Banking services) in Doha, Qatar on March 15, 1979.

As one of Qatar’s leading financial services company, Doha Bank is committed to making banking work for customers and clients like it never has before. Through innovative technologies and the ingenuity of its people, Doha Bank provides individuals and commercial, corporate and institutional clients across Qatar and even internationally, new and better ways to manage their financial lives.

The company enables customers to do their banking and investing whenever, wherever and however they choose through an extensive network, and multiple access channels.

The Dubai branch of Doha Bank was opened in 2008.

Doha Bank switches off for Earth Hour

Doha Bank switches off for Earth Hour
Dubai, March 27, 2017: Affirming its commitment to supporting climate change action and raising awareness about energy conservation, Doha Bank switched off the lights in its corporate headquarters and select branches across Qatar Saturday evening as part of its participation in the 11th annual Earth Hour.
A people’s movement organized annually by the World Wide Fund for Nature (WWF), Earth Hour is the world’s largest demonstration of support for action on climate change.
To mark the event, every year people around the world turn off all non-essential lights for one hour from 8.30pm-9:30 pm local time.
Commenting on the need for decisive action on climate change, Dr. R. Seetharaman, CEO of Doha Bank, said, “Climate Change is the greatest challenge facing humanity in the 21st century.

Effective mitigation of climate change risk will not be achieved unless all state and non-state individuals step up their efforts towards a low-carbon future, and we believe the private sector has a vital role to play in making this transition possible. As an active and long-standing advocate for environmental sustainability, Doha Bank has consistently lent its support to initiatives that aim to reduce greenhouse gas emissions, and we are happy to be able to once again contribute to the fight to save our planet with our participation in Earth Hour.”
Doha Bank is one of the very few institutions in the region that have an active “green” policy in all areas of their business, and the Bank’s corporate headquarters in West Bay is designed to save energy while maximizing ambient comfort.
The Bank also maintains a well-defined Environmental Policy that encourages staff at all levels to “Reduce, Reuse & Recycle” to minimize resource utilization.
As part of its efforts to encourage environmental awareness at the grassroots of society, Doha Bank organizes a number of annual initiatives such as the Al Dana Green Run, the largest community run in Qatar which this year saw participation from more than 6,000 people, and the ECO-Schools Programme which seeks to integrate sustainability into the operational framework of schools and encourage schools to become eco-friendly institutions by taking practical steps towards a greener path and by reducing their carbon footprint.
About Doha Bank
Doha Bank is the largest private commercial bank in the State of Qatar. It was incorporated in 1978 and commenced its banking business (including its International Banking services) in Doha, Qatar on March 15, 1979.

As one of Qatar’s leading financial services company, Doha Bank is committed to making banking work for customers and clients like it never has before. Through innovative technologies and the ingenuity of its people, Doha Bank provides individuals and commercial, corporate and institutional clients across Qatar and even internationally, new and better ways to manage their financial lives.
The company enables customers to do their banking and investing whenever, wherever and however they choose through an extensive network, and multiple access channels.

The Dubai branch of Doha Bank was opened in 2008.