17 Feb, 2008

Arab Bank Chairman/ CEO Abdul Hamid Shoman has concluded a three day visit to Qatar during which he toured Arab Bank branches there and met with the Regional Manager to Qatar branches Mr. Saeed Abu Gharbeyeh as well as several senior members of the staff.

During the visit Mr. Shoman also met with Qatari Prime Minister and his Deputy/ Minister of Energy and Industry, Central Bank Governor and his Deputy, Minister of Finance and Acting Minister of Economy and Commerce, as well as a group of leading Qatari business men.

Mr. Shoman commended the massive economic developments witnessed by the region especially within the Gulf region and the great progress in Qatar in particular within the various sectors. Mr. Shoman confirmed Arab Bank’s willingness to continually support the positive change within the region and to expand its activities to further enhance the important productive sectors in Qatar and the rest of the Arab region as part of its strategy to finance large projects that support the infrastructure and reinforce the economic growth as well as achieve positive investment and financial gains for all involved.

Also during the visit, Mr. Shoman met with Central Bank Governor Sheikh Abdullah bin Saud Al Thani and his Deputy Sheikh Fahad bin Faisal Al Thani, and exchanged views on the banking sector’s role in the Qatari economy. Mr. Shoman highlighted the important role the Arab Bank plays along with the other banks operating in Qatar in supporting the economic and social development in the country.

A luncheon banquet was held in honor of the Chairman/ CEO and a number of Qatari business men.

Mr. Shoman described his visit to Qatar as successful, saying it opened the door for the exploration of many investment opportunities in Qatar, especially in light of existing schemes to expand the Bank’s presence in one of the most important Arab economic centers. The visit also helped to broaden Arab Bank’s prospects for participation in mega projects in order to strengthen development and investment efforts, according to Mr. Shoman.

It is worth noting that the Arab Bank began its banking operations in Qatar in 1957, and is now the largest non-Qatari banking institution operating in Doha. The Qatari government and a several Qatari businessmen contribute to the capital of the Arab Bank. Qatar is considered a fertile and suitable environment for investment where the Arab Bank is keen on offering an array of retail and corporate banking products.