Spanish firms probe Qatar opportunities
Doha, October 26, 2011
IBQ, a leading Qatari bank, has shared key insights on the country's banking sector with over 100 leading Spanish companies during the Spain-Qatar Business Meeting which started on October 24 at the Grand Hyatt hotel in Doha.
IBQ is the annual platinum sponsor of the Spanish Business Council in Qatar and the exclusive bank sponsor of the event which will end today (October 26), a statement from the bank said.
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. The bank was also present through the B2B meetings to answer any questions on banking and facilities in Qatar.
The meeting is organised 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 Organisations (CEOE) and the Economic and Commercial Office of the Embassy of Spain in Qatar, the statement said.
It is considered 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, it said.
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 customised to fit the needs of multi-national organisations. We do recognise 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.”
“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,” Kamal said.
Qatar and Spain’s economic relations have increased at a very fast pace in the last few years, with more than 1,200 companies selling 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. – TradeArabia News Service