contents - Doha Bank

contents
Message from the Managing Director ........................................................
Message from the CEO ..............................................................................
Doha Bank Announces 5% Profit Growth with Highest Return on Equity ...
Doha Bank Wins The Bizz 2012 World Business Leader Award ...................
Doha Bank’s Board submits a recommendation to increase
the capital of the bank by 50% .................................................................
Infrastructure: a Catalyst for Regional Growth and Opportunities ..............
Doha Bank Wins The Golden Europe Award ..............................................
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Infrastructure Boom in GCC will Encourage Active
Participation from Developing Markets ......................................................
SME Sector Will Be the Backbone for Sustainability in Qatar Economy
and Support Diversification ........................................................................
Qatar is in Substantive Compliance of AML/ CFT .......................................
Doha Bank and Lulu Hypermarkets Celebrating a Grand Year of Success ...
Doha Bank Inaugurates Lulu Al Khor Electronic Branch ..............................
Doha Bank Launches “Go for Gold” Campaign .........................................
Get a Loan Against Your Owned Gold from Doha Bank .............................
Doha Bank enters in agreement with Indiabulls for NRI Home Loans ..........
Doha Bank Assurance Company LLC (DBAC) Opens First Retail Branch ......
Doha Bank and iLoveQatar.net Join Efforts to Make a Difference in Qatar ..
The Best Car Loan Offer in Qatar... Brought to You by Doha Bank .............
Doha Bank Announces the Lucky Winners of MasterCard’s ........................
Be the Next Millionaire This Month September Prizes .................................
Light News ................................................................................................
For any queries, feedback or suggestions, please do not hesitate to write to us at:
• [email protected] • www.dohabank.com.qa
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Message from the MD
Marking the end of the third quarter of 2012 and
the issuance of the audited financial statements for
that period, I would like to express my sincere thanks
and gratitude to H.E. the Chairman of the Board,
Board Members, CEO, Group Heads and all staff for
their outstanding performance and achievements
over the previous nine months of 2012.
During that period,
we were able to achieve greatly as we
launched many innovative banking services and products
and improved the existing ones through the addition of
new attractive features. The e-banking products and services
were among the most successful ones.
We would also like to note that Doha Bank’s Board of
Directors, chaired by H.E. Sheikh Fahad Bin Mohammad Bin
Jabor Al Thani, has resolved in its meeting held on Tuesday,
18 September 2012, to submit a recommendation to the
Extraordinary General Assembly to increase the capital of
the bank during the first quarter of 2013 by 50% to meet
the bank’s strategic business development requirements.
We are now in the process of conducting the necessary
studies to identify the proper mechanisms to follow in
implementing this resolution. Naturally, the instruments,
issue’s value and premium, date of issue and any other
related details would be disclosed in accordance with the
enforced laws after completion of the necessary studies and
obtaining the approval of the competent authorities.
Undoubtedly, the proposed capital increase will enhance
the shareholders’ equity base, and support the bank in
achieving its strategic goals at the local, regional and
international levels. It will also strengthen the bank’s
ability to lend and compete, especially in the light of the
anticipated boom in the various economic sectors in Qatar
in the years to come. Further, such an increase will help the
bank meet the planned growth ratios set out in its balance
sheet and income statement and realize the highest levels of
performance.
Despite the fierce competition in the Qatari market and the
implications of the global financial crisis that is still ongoing
since more than four years, we have achieved high growth
ratios in most financial indicators, including a high growth
rate in net profit for the first nine months of 2012 by 5%
and with a value of QR 1.061 billion, while the return on
average equity and the return on average assets reached
21,2% and 2,69% respectively.
With solid financial solvency characterizing Doha Bank at
the local and global levels, the innovative banking services
and products introduced by the bank and its leading role in
carrying the banking experience in Qatar to new horizons,
we have earned the appreciation and recognition of
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HE Sheikh Abdul Rahman Bin Mohammed Bin
Jabor Al Thani (Managing Director)
professionals
in the financial and
banking industry. In addition
to the prizes that we have won during
the past years, we were conferred with many new
international prizes, as we were named “the Best Bank
in Qatar” for the year 2012 and “the Most Innovative
Bank” by Global Banking Finance Magazine. The bank
has also been awarded with the “Golden Peacock Prize
for Corporate Social Responsibility” for the year 2012 as
well as the “World Leader Business Award” by the World
Confederation of Business.
The Qatari economy is still witnessing good growth rates
despite the recession that has prevailed over various
economies worldwide. Further, Qatar’s winning the bid
to host the FIFA 2022 World Cup will boost the various
economic sectors and infrastructure development projects
in the coming years. Therefore, we expect the management
and staff of the bank to exert more efforts to achieve our
targets. Needless to say, realizing our goals will require
close cooperation and coordination among all of us. This
also means that we should work harder together as one
team during the coming period with a view to realizing our
aspired objectives.
Finally, I would like to reiterate my appreciation and
thanks to the Board, Management and staff who have all
contributed in these achievements. However, we still have
a lot to do and achieve and other goals to aspire to. We are
confident that you will stand up to the challenges of the
coming period and we will be sure to extend our sincere
support and assistance.
Best Regards,
Abdul Rahman Bin Mohammed Bin Jabor Al Thani
The Managing Director
Message from the CEO
Doha Bank had a very promising year
so far in 2012 and we look forward to
more excitement in the fourth quarter.
We have planned
to increase the capital of the
bank during the 1st quarter of 2013 by
50% to meet the bank’s strategic business
development requirements. In the month of
September 2012, Doha Bank also conducted
its International road shows & knowledge
sharing sessions in Dubai, Kuwait and
Doha. During the Road show in Kuwait, we
launched the SME product suite in Kuwait
market. In the moment of pride, Doha
Bank won the prestigious The Bizz 2012 –
World Business Leader award from World
Confederation of Businesses for Corporate
Achievement, Innovation, Corporate Social
Responsibility, Quality Commitment and
Excellence. Adding to our genre of awards,
Doha Bank won the prestigious Golden
Europe Award for Quality and Commercial
Prestige in July 2012.
In August 2012, Doha Bank Assurance
Company (DBAC) also opened its first
Retail Insurance Branch at C Ring Road.
Doha Bank also celebrated the anniversary
of the Lulu Hypermarket and Doha Bank
dream card which is a great success
amongst the customers on account of its
first class services and customer centric
offers. Later in August 2012, Doha Bank
launched its “Go for Gold” campaign,
which provides an opportunity to buy
gold bars from the bank.
Dr. R. Seetharaman (Group CEO)
Doha Bank
has appointed Mr. Suresh
Bajpai as Head of Retail Banking in
July 2012. Suresh earlier held the position
of the Managing Director and Global
Head of Commercial Banking at Citibank,
New York. Doha bank also organized an
event at the Doha Bank Tower to mark the
“Launch of Bullion Initiative”. Doha Bank
has always maintained that Customer is our
priority and we look forward to many more
initiatives for the customers.
On the Corporate Social Responsibility
front, Doha Bank and iLoveQatar.net (ILQ)
concluded a pact to support each other
in engaging with the local communities
residing in Qatar with the common goal of
“Making Qatar a better place”. In another
innovative initiative, Doha Bank has released
a new application for Ramadan dedicated to
all the people who want to know the exact
prayer time throughout the holy month,
engage in the QUR’AN Al Kareem Recitals
and in calculating the Zakat.
Thanks and Regards
Dr. R. Seetharaman (Group CEO)
3
Doha Bank Announces 5% Profit Growth
with Highest Return on Equity
HE Sheikh Fahad Bin
Mohammad Bin Jabor
Al-Thani
(Chairman)
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 Q3 2012. Net profit for Q3 2012 recorded an
impressive QR 1,061 million which represented a growth of
5% as compared to QR 1,011 million for the same period in
2011. H.E. Sheikh Fahad said “This is another outstanding
result and is a clear demonstration that Doha Bank continues
to perform consistently.”
The Bank increased net operating income by 3% to QR 1.8
billion. Total assets increased by more than QR 2.8 billion,
a growth of more than 5.6%, from QR 50 billion as at 30
September 2011 to QR 52.8 billion as at 30 September 2012.
Net Loans & Advances increased to QR 31.4 billion from QR
28.4 billion for the same period last year, registering a growth
of 10.6%. Deposits showed a year on year increase of 2.8%
from 30.2 billion to QR 31.1 billion as at 30 September 2012
which is evidence of the strong liquidity position of the Bank.
His Excellency Sheikh Abdul Rahman Bin Mohammad Bin
Jabor Al-Thani, Managing Director of Doha Bank said
“Through the strategic utilization of shareholder’s funds in
order to maximize our performance levels, the return on
average equity is 21.2% as at 30 September 2012 which is the
highest in Qatar. The Bank, given the scale of operations, has
achieved a very high return on average assets of 2.69% as at
30 September 2012 which is a clear demonstration of optimum
asset allocation strategies”.
Talking on the key achievements in the third quarter of 2012,
Dr. R Seetharaman, Group Chief Executive Officer, highlighted
the unique innovations and initiatives from Doha Bank.
Dr. R. Seetharaman said, “The Board of Directors has resolved
in its meeting held in September to submit a recommendation
to the Extraordinary General Assembly to increase the capital
of the bank during the 1st quarter of 2013 by 50% to meet
the bank’s strategic business development requirements. The
instruments, issue’s value and premium, date of issue, and any
other related details would be disclosed in accordance with
the enforced laws after completion of necessary studies and
obtaining the approval of the competent authorities.”
On the Retail front, Dr. R.Seetharaman, said, “Doha bank
strengthened its Gold Bullion offerings by launching ‘Go
for Gold Campaign’. You can buy the purest gold bars, in
flexible denominations of 5 grams up to 1 kilogram at the
most competitive price. In addition to this, Doha Bank for the
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HE Sheikh Abdul Rahman
Bin Mohammed Bin Jabor
Al Thani
(Managing Director)
first time in Qatar introduced ‘Loan against Pre-Owned Gold’.
This summer Doha Bank also introduced the ‘Best Car Loan
Offer’ in Qatar, which comes with 0% interest rate up to six
months leading to the lowest rate for the entire duration. In
addition, you get a 3 months grace period on your car loan
installments, competitive rates on your car insurance and a
package of unique value added products and services. Doha
Bank announced the lucky winners of MasterCard’s Travel,
Spend and Win promotion. Doha Bank together with LULU
Hypermarkets Inc., the leading departmental and hypermarket
chain in the GCC, recently held a very special event to mark
the first anniversary of the launch of the LULU Doha Bank
Shopping credit card. The LULU Doha Bank shopping credit
card is Qatar’s first shopping credit card and the only credit
card that guarantees an instant 5% savings on all purchases
made across all LULU Hypermarkets in Qatar to cardholders.
Doha Bank conducted the 6th Al Dana draw in July 2012.
This year alone, Al Dana has awarded QR 6 million to 44
loyal Al Dana winners who have maintained a minimum
monthly balance of QR 1000, while giving extra chances with
every additional QR 1000 to ensure loyalty is reciprocated
with a bucket of cash. Doha Bank has introduced the Small
and Medium Enterprises Product line in its overseas branch
of Kuwait, in addition to the offerings in Qatar and UAE
market.”
Doha Bank augmented its expansive network by opening an
Electronic Branch in Lulu Shopping Mall in Al Khor. This will
help Doha Bank to serve Qatar’s communities in every corner
of the country. Doha Bank also announced that it’s wholly
owned insurance subsidiary Doha Bank Assurance Company
LLC has opened the first Insurance Branch fully dedicated to
Retail on the Ground Floor of their C Ring Road Headquarters.
Doha Bank continued its efforts of conducting knowledge
sharing sessions, by hosting the “Market Opportunities, Risks
and Solutions” session for the benefit of its customers in
Doha. HE Sheikh Abdulla bin Saud Al Thani, the Governor
of Qatar Central Bank was the Chief Guest at the seminar.
This was followed by two more seminars in Kuwait and
Dubai. These knowledge sharing sessions were attended by
Diplomats, Charge’ d’ affairs representing respective foreign
embassies, customers of Doha Bank, renowned bankers,
industrialists, analysts, economists and regulators from GCC.
Dr. R.Seetharaman addressed these gatherings as the keynote
speaker.
In a moment of pride and excitement, Doha Bank has
received “The Bizz 2012 – World Business leader” award
from World Confederation of Businesses. For their
visionary Leadership and continuous mentoring H.E. Sh.
Fahad Bin Mohammad Bin Jabor Al Thani – Chairman,
H.E. Sh. Abdul Rahman Bin Mohammad Bin Jabor Al
Thani – Managing Director and Mr. Ahmed Abdul Rahman
Yousuf Obaidan Fakhroo – Vice Chairman were awarded
with “Excellence in Business Leadership”. During the same
ceremony, Dr. R. Seetharaman was also recognized as “World
Leader Business person” for his invaluable contributions. Doha
Bank has also won the prestigious “Golden Europe Award for
Quality and Commercial Prestige.”
On the Corporate Social Responsibility front Doha Bank
and iLoveQatar.net concluded a pact to support each other
in engaging with the local communities residing in Qatar.
Marked as the first partnership of its kind in Qatar, the two
organizations have come together with the common goal
of “Making Qatar a better place”. In another innovative
initiative, Doha Bank has released a new application for
Ramadan dedicated to all the people who want to know the
exact prayer time throughout the holy month, engage in the
QUR’AN Al Kareem Recitals and in calculating the Zakat in
both currencies Qatari Riyals and USD, whereby you can grow
your wealth, the gold price per gram and play to calculate
your Zakat.
Recognizing this performance, International rating agencies,
Moody’s, Standard & Poor’s, Capital Intelligence and Fitch
Ratings, have assigned a stable outlook for Doha Bank
owing to its consistently strong financial fundamentals, asset
quality, and robust liquidity. Doha Bank has been applauded
by renowned financial sector analysts for its pioneering and
leadership role in taking Financial Services experience in the
Middle Eastern region to newer heights.
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Doha Bank Wins The Bizz 2012
World Business Leader Award
Dr. R. Seetharaman, Doha Bank Group CEO,
receiving the The Bizz 2012 – World Business leader
award from World Confederation of Businesses, at a
ceremony held on 16th September 2012.
Doha Bank, a prime
and progressive bank in Qatar,
has won the prestigious The Bizz 2012
– World Business leader award from World
Confederation of Businesses. Dr. R. Seetharaman,
Doha Bank Group CEO, received the award at a
glittering ceremony held on 16th September 2012
at the Sharq Village Hotel in Doha, Qatar, attended
by business leaders, bankers, academics and policy
makers. This award was presented to Doha Bank for its
corporate achievement, Innovation, Corporate Social
Responsibility, Quality Commitment and Excellence.
For their visionary leadership and continual mentoring,
H. E. Sh. Fahad Bin Mohammad Bin Jabor Al Thani,
Chairman, H. E. Sh. Abdul Rahman Bin Mohammad
Bin Jabor Al Thani, Managing Director and
Mr. Ahmed Abdul Rahman Yousuf Obaidan Fakhroo,
Vice Chairman, were awarded with Excellence in
Business Leadership. During the ceremony, Dr. R.
Seetharaman was also recognized as World Leader
Businessperson for his invaluable contributions.
¡
A dynamic, modern bank with enduring
age-old values
Dr. Seetharaman, while expressing his happiness on
the receipt of the award said, “The Bank has been
completely transformed into a dynamic entity with
strong values and customer-centric approach and
has sustained the same over a period of time. It has
been recognized as a dynamic, modern bank with
enduring age-old values. The bank has achieved
very impressive results over the last eight years of
its history. This has been a combined result of the
Board’s Vision, management and employee dedication
and a tremendous customer response. The Bank has
carved a niche for itself in the GCC focused activities
by embarking upon a dynamic growth strategy. Doha
Bank’s signature is “Sustainable Outperformance”. We
are the trendsetter in introducing many innovative
products and services in Qatar. Our consumer-centric
technology solutions are credited with being the
first introduced in the Qatar market. Performance,
Innovation, Quality and Security are the supreme
features of Doha Bank and we have been able to
demonstrate these parameters consistently. The
operating efficiency, asset allocation model, unique
international strategy and perfect execution blend
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together to provide an
almost unparalleled force in global
banking”.
¡
A dominant position across the Middle East
Doha Bank has established a dominant position
amongst the financial institutions across the Middle
East, with 32 state-of-art local branches, 10 e-branches,
13 pay offices and more than 110 ATMs. Doha Bank
operations are geographically spread across strategic
locations in the State of Qatar and the bank also
operates full-fledged branches in Dubai and Kuwait,
and has representative offices in Turkey, Japan,
Singapore, China, Abu Dhabi in the UAE, South Korea,
UK and Germany, encompassing a robust and strategic
network of correspondent banking relationships.
¡
A stable outlook for Doha Bank
International rating agencies, Moody’s, Standard &
Poor’s, Capital Intelligence and Fitch Ratings, have
reaffirmed the ratings and assigned a stable outlook
for Doha Bank, owing to its consistently strong
financial fundamentals, asset quality, and strong
liquidity position. Doha Bank has been applauded by
renowned financial sector analysts for its pioneering
initiatives and its leadership role in taking Financial
Services experience in the Middle Eastern region to
new heights.
Dr. Seetharaman concluded, “It is indeed heartening
to note that Doha Bank is now a respected brand, not
just locally but also internationally. Only a consistent
performance will ensure that we remain as the best
performing bank and I am sure we as a team will excel
and stay ahead of the competition”.
6
Doha Bank’s Board Submits a Recommendation
to the Extraordinary General Assembly to Increase
the Capital of the Bank by 50%
H.E. Sheikh Fahad Bin Mohamed Bin Jabor Al-Thani,
Chairman of Doha Bank, disclosed that the Board of
Directors has resolved in its meeting held on 18/9/2012
to submit a recommendation to the Extraordinary
General Assembly to increase the capital of the bank
during the 1st quarter of 2013 by 50% to meet the
bank’s strategic business development requirements.
He added that the instruments, issue’s value and
premium, date of issue, and any other related details
would be disclosed in accordance with the enforced
laws after completion of necessary studies and
obtaining the approval of the competent authorities.
His Excellency also said that the proposed capital
increase will enhance the shareholders’ equity base
and support the bank’s propsects for achieving its
strategic goals at the local, regional and international
levels. It will also strengthen the bank’s lending ability
and improve its competitive edge, especially in the
light of the anticipated boom in various economic
sectors in Qatar in the coming years. The proposed
capital increase would also enable the bank to realize
the targeted growth in its balance sheet and income
statement and achieve highest levels of performance.
Finally, H.E. Sheikh Fahad reiterated that the
implementation of this resolution is subject to the
approval of the competent authorities.
Fahad Bin Mohammad Bin Jabor Al Thani
(Chairman)
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Infrastructure: a Catalyst for Regional
Growth and Opportunities
H.E. Sheikh Abdullah Bin Saoud Al Thani, Governor of Qatar
Central Bank, with members of Doha Bank’s Board of Directors
and Executive Management.
Major infrastructure projects, such as
airports, metro rail networks, deep water
ports and marinas, transport network
upgrades, new hospitals, schools and in
some cases, entire cities, are planned
over the next 5 to 15 years across the
GCC. These multi-billion US$ projects
are not only essential for the continuing
prosperity of individual nations; they also
offer huge opportunities for businesses
and industry.
Doha Bank hosted a series of knowledge
sharing events entitled “Market
Opportunities, Risks and Solutions“ across
the region during September. Business
owners and C-level managers were invited
to attend to hear experts discuss how
major planned developments are set to
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drive market dynamics over the medium to
long term.
¡
Experts deliver insight on future growth
prospects
The exclusive seminars took place in three of
the region’s dominant commercial centres,
namely Doha, Kuwait and Dubai, on the
10th, 12th and 26th September respectively.
Each event included a selection of market
briefings from Doha Bank as well as industry
experts and analysts from various key
organisations active in each of the three
cities. Briefings were shared from specialists
at Wells Fargo Bank, Axis International
Insurance Surveyors, Cunningham Lindsey
Loss Adjusters and Latham, Watkins Joint
Venture and Tsaheel Centre for business
developments.
Doha Bank Group CEO,
Dr. R. Seetharaman,
moderated the panel
discussion comprising industry
experts at the knowledgesharing seminar on “Market
Opportunities, Risks and
Solutions“, in Dubai on 26th
September 2012.
¡
Doha – “Multiple
infrastructure projects in the pipeline”
Qatar has faired well over the past
decade, with steady growth and stability.
Major projects are planned for Qatar’s
infrastructural development in anticipation
of FIFA 2022, with infrastructure, commerce
and population numbers set to rise
significantly over the next 10 years. There
are significant infrastructure projects that
are either planned, in progress or nearing
completion. These include large-scale city
developments such as Mushaireb, Barwa
City and the Lusail City Project, New Doha
Port, Doha New International Airport,
a city-wide metro rail network, utilities
upgrades, major road network upgrades in
addition to ongoing petrochemical plant and
infrastructure expansion. The Public private
partnership has worked effectively in Qatar
and this will continue to be developed over
the long term.
¡
Kuwait – “Strong growth in 2012 to
continue”
Kuwait is expected to achieve grow of 6.5%
during 2012. Global trade has shown an
increasing trend in the past few years with
trade
surplus exceeding
40B US$ in 2011. Kuwait trade surplus will
contribute close to 7% of GCC trade surplus
in 2011. Consumer spending in Kuwait is
set for another strong year in 2012 backed
by solid salary increases and an improving
employment scenario. But the real gamechanger for the nation is the acceleration of
the government’s development plan, which is
widely expected by the banking sector soon.
¡ Dubai – “Master Plan for Urban
Development”
Dubai’s strategic plan of 2015 and Abu
Dhabi Economic Vision 2030 are driving
growth in the UAE. GDP at current prices of
GCC economies will grow at 11% in 2012
over $1.5 trillion. Dubai is introducing a
master plan for urban development that
is expected to open up about 950,000 jobs
by 2020. As a result, major infrastructure
projects are scheduled for the UAE and the
recent regulatory reforms introduced by
UAE central bank will pave the way for an
improvement in large-scale project delivery
over the next decade.
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Dr. R. Seetharaman, Doha Bank Group CEO, delivering the key note
speech at the Market Opportunities event in Dubai .
¡
“Market Opportunities, Risks and
Solutions“– A timely event
With major infrastructure projects coming
online, the events in Doha, Kuwait and Dubai
provided timely and valuable insight into
local market dynamics along with positive
forecasts for each nation’s future prospects
and the region as a whole.
HE Sheikh Abdulla bin Saoud Al Thani,
the Governor of Qatar Central Bank was
the Chief Guest at the knowledge sharing
seminar which was held at Four Seasons
Hotel, Doha on 10th September 2012.
At each event, a panel of speakers,
welcomed by Doha Bank’s Group CEO,
Dr. R Seetharaman, included Mr Aryam
Vázquez - Global Emerging Markets’
Economist, Wells Fargo’s International
Group, Mr Ian C Golt - Technical Director,
Construction, Axis International Middle
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East, Mr Carl Roberts- Senior Loss Adjuster
at Cunningham Lindsey LLC and Mr Ahmad
Anani - Counsel, Latham & Watkins LLP, a
premier global law firm in Qatar.
¡
Stability from global turmoil
Speaking at the knowledge-sharing seminars,
Dr R. Seetharaman highlighted current
global and regional trends as well as the key
developments from the recent economic crisis
to date. He also elaborated on the financial
stability of the world economies, the
economic outlook of the world economies
in consideration of the on-going crisis, the
policy changes that are required at a macroeconomic level and financial/monetary levels
to emerge out of the current financial crisis.
During his addresses he mentioned that
global economic growth is expected to drop
in 2012 compared to 2011. He believes the
advanced economies’ debt issues are not yet
Doha Bank Group CEO,
Dr. R. Seetharaman, moderated the
panel discussion comprising industry
experts at the knowledge-sharing
seminar on “Market Opportunities,
Risks and Solutions“, in Kuwait on
12th September 2012.
resolved
and the emerging
economies are also slowing
down. He continued to highlight the
proactive measures taken by the region’s
governing authorities to monitor and
manage the crisis and its impact on customer
confidence.
¡
Discussion on driving regional growth
Dr. R Seetharaman moderated a panel
discussion at each of the events comprising
of industry experts. As part of these
discussions, Mr Aryam Vázquez, Global
Emerging Markets’ Economist, Wells
Fargo’s International Group, presented his
theories on ‘How infrastructure projects
will change the GCC economies’, explaining
that infrastructure-led activity is serving as
a driver of regional economic growth and
is a robust mechanism to strengthen social
fabric, advance diversification and generally
improve the quality of life.
¡
Managing and reducing risk
Mr Aryam Vázquez was followed by Mr Ian
C Golt, Technical Director, Construction, at
Axis International ME, who spoke on “Risk
identification in insurance“. He gave insights
on risk management, components of risk and
various insurable risks.
Mr Carl Roberts, Senior Loss Adjuster at
Cunningham
Lindsey LLC, covered
‘Project Risk Solutions’ and
presented his theories on risk matrix, various
risk management techniques and key points
to be considered in insuring projects.
¡ Venture structures for success
Mr Ahmad Anani, CEO, Tsaheel Centre for
Small business developments, explained
how to structure a successful Joint Venture
(JV) in the various nations. At each event he
went into the specifics of setting up Joint
Venture companies in each of the countries,
for example in Qatar he emphasised the
Qatari legal system and its recognition of
unincorporated JVs. He also highlighted the
differences between incorporated JVs versus
Limited Liability Company and Private Joint
Stock companies.
¡ Conclusion
At the end of the seminar series it was
concluded that infrastructure will play
a significant role in the region’s market
dynamics for years to come. The opportunity
for businesses and corporations to take
advantage of the projected growth is real
and apparent.
11
Doha Bank Wins The Golden Europe Award for
Quality and Commercial Prestige
Mr. Khalid Al Naima, Head of Public Sector, Doha Bank,
receiving the prestigious Golden Europe Award for Quality
and Commercial Prestige, at the Quality Summit 2012, held
on 16th July 2012 at Le Meridien Hotel in Paris, France.
Doha Bank, a prime and
progressive bank in Qatar, has won
the prestigious Golden Europe Award for
Quality and Commercial Prestige. The prestigious
award was handed over to Mr. Khalid Al Naima,
Head of Public Sector, Doha Bank at the Quality
Summit 2012, held on 16th July 2012 at Le Meridien
Hotel in Paris, France, attended by distinguished
businessmen from different sectors representing 40
countries.
This award was presented to Doha Bank for its
corporate achievements, prestige, innovation, quality
commitment and excellence. Dr. Seetharaman, Group
CEO of Doha Bank, while expressing his happiness
on receiving the award said, “The Bank has been
completely transformed into a dynamic entity with
strong values and a customer-centric approach, and
has sustained the same over a period of time. It has
been recognized as a dynamic, modern bank with
enduring age-old values. The bank has achieved
very impressive results over the last eight years
of its history. This has been a combined result of
the Board’s Vision, management and employee
dedication and a tremendous customer response.
The Bank has carved a niche for itself in the GCC
focused activities by embarking upon a dynamic
growth strategy”.
¡
A trendsetter in introducing innovative
products and services
He also added, “Doha Bank’s signature is
“Sustainable Outperformance”. We are the
trendsetter in introducing many innovative products
and services in Qatar. Our consumer-centric
technology solutions are credited with being the
first introduced in the Qatar market. Performance,
Innovation, Quality and Security are the supreme
features of Doha Bank and we have been able to
demonstrate these parameters consistently. The
12
operating
efficiency, asset allocation
model, unique international strategy and perfect
execution blend together to provide an almost
unparalleled force in global banking”.
Doha Bank has established a dominant position
amongst the financial institutions across the Middle
East, with 38 state-of-the-art local branches, 10
e-branches, 13 pay offices and more than 110 ATMs.
Doha Bank operations are geographically spread
across strategic locations in the State of Qatar and
the bank also operates full-fledged branches in
Dubai and Kuwait, and has representative offices in
Turkey, Japan, Singapore, China, Abu Dhabi-UAE,
South Korea, the UK and Germany, encompassing
a robust and strategic network of correspondent
banking relationships.
¡
A stable outlook for Doha Bank
International rating agencies, Moody’s, Standard &
Poor’s, Capital Intelligence and Fitch Ratings, have
reaffirmed the ratings and assigned a stable outlook
for Doha Bank, owing to its consistently strong
financial fundamentals, asset quality, and strong
liquidity position. Doha Bank has been applauded by
renowned financial sector analysts for its pioneering
initiatives and its leadership role in taking the
financial services experience in the Middle Eastern
region to new heights.
Dr. Seetharaman concluded, “It is indeed heartening
to note that Doha Bank is now a respected brand,
not just locally but also internationally. Only a
consistent performance will ensure that we remain
as the best performing bank, and I am sure that as a
team will excel and stay ahead of the competition”.
Infrastructure Boom in GCC will Encourage Active
Participation from Developing Markets
Dr. R. Seetharaman, Doha Bank Group CEO,
participating in the Interactive session at Qatar
Capital Markets Conference on “Financing
Infrastructure in the GCC Countries. How Can
Developing Markets Help?“, held at Ritz Carlton
Doha, on 19th September 2012.
Dr. R. Seetharaman, Doha
Bank Group CEO, participated in the
Interactive session at Qatar Capital Markets
Conference on “Financing Infrastructure in the GCC
Countries. How Can Developing Markets Help?“, held
at Ritz Carlton on 19th September 2012.The event was
attended by regional and global bankers, economists and
central bank governors from around the world.
Dr. R. Seetharaman also gave insights on project financing
trends in GCC in recent years. He said, “Prior to the financial
crisis, government infrastructure projects were primarily
financed through syndication loans by foreign banks at very
competitive prices. During boom times, project financing
deals worth over USD30 bn were signed in 2007. In the GCC
post 2008 crisis, the availability of project finance dried up
and the cost of debt also went up.
In August 2007 a tranchesize of USD 2.3 bn in Qatalum
Project was financed at L+40 bps before crisis post crisis
Riyadh Power Project was financed at L+250 bps going
up to 350 bps over the loan life. Post crisis multi-currency
loans came in vogue to permit local banks lending in
local currencies. Post financial crisis, most MNC banks
have withdrawn from project financing space due to
USD liquidity constraints back home and capital shoring
up needs. The void in GCC project financing space was
filled up to some extent by regional banks, export credit
agencies (ECAs) and bonds markets”.
¡
Major project financing deals in the GCC
Dr. R. Seetharaman highlighted major project financing
deals in the GCC in recent years. He said, “JBIC Bank
provided about $17bn of financing in 2011 for projects in
the Middle East, including $697mn for Marubeni Corp’s
$1.6bn power-plant project in Oman and a $1.5bn power
project in the UAE. Of the $7.2bn in debt raised for Qatar’s
Barzan natural-gas project in December 2011, $2.55bn was
provided by export credit agencies. Japan gave $1.2bn,
Korea lent $1bn and Italy provided $355mn. Foreign Banks
are unlikely to be prepared to provide the required long
term project finance on account of need for Basel III capital
preservation and ongoing Euro crisis. Local banks have
limited capacity to provide long term financing. A hybrid
structure could be developed – where syndicates of banks
can provide the initial project financing underwriting the
construction risks and upon operation of projects,
refinancing could take place through
bond issues. Alternatively, project entities can issue
bonds (with sovereign guarantee) during the construction
phase, and banks refinance the bonds upon projects
getting operational”.
¡
The role of bond markets for project financing
Dr. R. Seetharaman highlighted the role of bond markets
for project financing. He said, “Bonds targeting project
finance can be an attractive way to target developing
economies as such bonds are long dated and investors
searching for enhanced returns in the current low yield
environment. GCC infrastructure bonds targeting project
segment may be an attractive option to investors looking
for yield because the projects are typically backed by more
financially sound and highly rated governments, and have
stable, visible contractual cash flows. GCC institutions have
encouraged indirect participation of Asian economies
through bond issues. Pre 08-09 period, Asian economies
participation was 5-10% in a debt issue. Now they are
generally around 15-20%.GCC institutions such as Abu
Dhabi National Energy Co and and Bahrain-based Gulf
Investment Corp have tapped funding from the Malaysian
ringgit market. NBAD and ADCB have tapped ringgit sukuk
market in 2010“.
¡
The role of asset management for project financing
Dr. R. Seetharaman highlighted the role of asset
management for project financing. He said, “Asset
managers are often the primary gateway for foreign
institutional investors seeking to make foreign direct
investments in a country. Asian investors, especially from
China, are keen to consider investment propositions from
the region. Governments can also establish infrastructure
funds in collaboration with the private sector. Asset
managers can target the large and rapidly growing middle
class populations of China and India“.
In his concluding remarks, Dr. R. Seetharaman said,
“Infrastructure boom in the GCC will encourage active
participation from developing markets“.
13
SME Sector Will Be the Backbone for Sustainability in Qatar
Economy and Support Diversification
Dr. R. Seetharaman, Doha Bank Group CEO,
speaking on “Managing your money“, during the
Qatar Capital Markets Conference on “Financing
Infrastructure in the GCC Countries. How Can
Developing Markets Help?“, held at Ritz Carlton
Doha, on 19th September 2012.
Dr. R. Seetharaman, Doha
Bank Group CEO, participated in the
Qatar Success Series - Private Sector Forum on
Business and Finance, held on 25th September 2012, at St.
Regis Hotel, Doha. He spoke on “Managing your money“. The
event was attended by regional bankers, industry experts and
Business professionals.
Dr. R. Seetharaman gave insights on the global trends in SME
industry. He said, “SMEs are an important source of innovation
processes, products, and services and can be more efficient
at producing innovation than large firms. Small business has
led the U.S. out of every recession after the Great Depression
until now. SME sector contribution to India’s exports increased
to over 44 per cent by 2012 with the help of modernised
technology. SMEs make up the backbone of the British
industry and will need to take advantage of the abundance of
highly skilled graduates leaving university looking for work.
SME as a foundation of the Japanese industry is accounting for
over 99% of all businesses in Japan and is accounting for over
71% of the total work force in Japan. With unemployment
being an issue prevailing in developed economies, promoting
SMEs will be one of the key areas for government to consider
removing unemployment issues”.
¡
SMEs is one of the fastest growing sectors in the GCC
Dr. R. Seetharaman highlighted the trends in the SME sector
in the GCC. He said, “SME is one of the fastest growing sectors
in the GCC and contributes in the range of 15% to 30% of
each of the GCC states, the highest being in the UAE. SMEs in
Saudi Arabia represent almost 93 percent of total enterprises
and account for about 24.7 percent of total employment. An
effective way to expand the true economic potential of SMEs
in Saudi Arabia is to launch a national SME Authority – an
independent public sector body which coordinates closely with
govt and private organisations. In Kuwait, small enterprises
that have less than 20 employees constitute about 97% of the
total number of existing enterprises. The majority of small
enterprises are concentrated in services & retail sectors. Omani
and Qatari Banks are bullish on the SME lending segment”.
Dr. R. Seetharaman gave insights on the SME sector in Qatar.
He said, “Enterprise Qatar, an early initiative linked to QNV
2030, will provide a focal point for stimulating services for
small and medium-size enterprises and support diversification.
Enterprise Qatar will also share risks with the private
sector through participation in equity and business support
services. Enterprise Qatar will strengthen the SME business
environment; making it more viable for SMEs to take a
prominent role in Qatar’s economy”.
14
¡
Doha Bank a pioneer in
SME banking
Dr. R. Seetharaman highlighted the major offerings of Doha
Bank in the SME sector. He said, “Doha Bank has pioneered
SME Banking through its TATWEER program with the aim of
financing the business requirements of the SME sector which
covers funded and non-funded on short term and medium
term basis. Further, DB as a partner bank in Qatar Development
Bank (QDBs) Al Dhameen program are fully geared to provide
project-financing to mainly the manufacturing and services
sectors, which are eligible under the program. Some of DB’s
SME customers are first time borrowers, and such organisations
are not tuned to meet the banking requirements. As part of
the education process, we advise clients to have good system
to track cheque issuance, cash flow statements on monthly /
quarterly basis, annual budget covering capex and working
capital requirement etc. We also insist on getting the borrowers
to get their annual accounts audited”.
¡
Challenges faced in SME lending
Dr. R. Seetharaman gave insights on challenges faced in SME
lending in Qatar. He said, “In terms of utilization of the facilities,
there could be challenges after obtaining facilities, because the
company requests were based on assessment of their needs.
However, intervening business dynamics could change this. For
example, instead of local purchase, now they start importing,
which needs to be backed by different facilities like Letter of
Credit (LC). In some instances, client insists on higher facilities
that are granted based on their projected requirements, which
do not materialize. There may also be situations where financial
institutions may have restrictions in lending to SMEs due to
absence of signature on the required documents, audited
financials and poor credit history. Many challenges are faced by
banks in handling SMEs. Some of them include limited credit
history, low quality of information, dependence of selective
individuals, high growth rates, diversification into new areas.
Banks typically do not consider industrial land and property
as eligible collateral, as the land is owned by the government,
considerably reducing SMEs options. Banks also do not consider
primary residences as eligible collateral coverage as liquidation is
complicated and burdensome”.
In his closing remarks, Dr. R. Seetharaman said, “The SME
sector will be the backbone for sustainability in Qatar
economy and support diversification”.
Qatar is in Substantive Compliance
of AML/ CFT
The challenges in Anti-money
laundering/ combating the Financing of
Terrorism (AML/CFT) are faced by global
financial institutions.
The challenges
in Anti-money laundering/
combating the Financing of Terrorism
(AML/CFT) are faced by global financial institutions
recently. Certain global financial institutions faced issues
such as violation of US anti-money laundering laws. This is
the latest challenge faced by the global financial industry in
addition to the Libor rigging issue and the global financial
instituions are also working on various measures. It is time
we review the Anti- Money laundering scenario prevailing in
the GCC.GCC has some very specific financial transaction not
prevalent in western developed countries. It is important to
understand and integrate them in mainstream financial system
with adequate controls. Implementation of Financial Action
Task force on Money laundering (FATF) recommendations can
only be effective if concepts are applied to local environment.
MENA FATF has duly recognized that and has made a good
beginning.
The working group had suggested various measures to make
financial transactions through above modes FATF compliant.
Post Sep 11, 2001 many concrete steps have been taken in
Qatar. A law promulgated in Sep, 2002 (Law number 28 of
year 2002). Decree No. 21 in November, 2003 (Subsequent
to review of implementation, further refinement to some
provisions of Law no. 22). Law no 3 in 2004 promulgated in
Feb 2004 for combating financing of terrorism. The law is very
comprehensive includes authority, committees, regulation,
monitoring and imposing sanctions.
legal persons and
arrangements, stronger requirements when dealing
with politically exposed persons (PEPs), expanding the scope
of money laundering predicate offences by including tax
crimes, an enhanced risk-based approach which enables
countries and the private sector to apply their resources more
efficiently by focusing on higher risk areas, more effective
international cooperation including exchange of information
between relevant authorities, conduct of joint investigations,
and tracing, freezing and confiscation of illegal assets and
better operational tools and a wider range of techniques and
powers, both for the financial intelligence units, and for law
enforcement to investigate and prosecute money laundering
and terrorist financing.
All banks in Qatar are required to install a proper monitoring
system and appoint a qualified AML officer responsible for:
Polices & Procedures Know your customer (KYC), suspicious
transactions (reporting & record keeping) and Staff awareness
of AML regulations.
¡ Following up and studying international best practices
Qatar is a participant to most of the international forums
such as the UN Convention against Illicit trafficking of drug
and Psychotropic substances in1988, Arab convention for
CTF in1998, UN Convention on suppression of International
terrorism in1999, FATF (Financial Action Task Force) and
CTF through GCC Sectt, MENA FATF in 2005. Qatar Financial
Information Unit (FIU) was established in October 2004. QCB
takes a proactive and leading role in entire gamut of AML
& CTF measures. Guidelines issued in 1994, 1999 and 2005
have all been consistent with international developments. It
comprises detection, prevention and 40+9 recommendations
of FATF.
The competent AML/CFT Division of QCB, including its
units, carries out tasks such as following-up and studying
international best practices and codes on AML/CFT to
keep pace with, in addition to track domestic and global
developments in AML/CFT, following-up of issues that
require a joint cooperation between all authorities and
regulators with regard to AML/CFT, coordinating all
official correspondence and communication between the
Central Bank and the National Anti-Money Laundering and
Combating the Financing of Terrorism Committee, conducting
an ongoing off-site surveillance and on-site inspection of all
financial institutions regulated and controlled by the Qatar
Central Bank to follow-up on all issues relating to AML/CFT
with all financial institutions that are regulated and controlled
by the Qatar Central Bank.
The Financial Action Task Force (FATF) had recently come with
recommendations such as combating the financing of the
proliferation of weapons of mass destruction through the
consistent implementation of targeted financial sanctions
when these are called for by the UN Security Council,
improved transparency to make it harder for criminals and
terrorists to conceal their identities or hide their assets behind
It assures that all financial institutions regulated and
controlled by the Qatar Central Bank are in compliance with
AML/CFT legal requirements, regulations and guidance issued
by the Qatar Central Bank and all other relevant bodies, carry
out all relevant AML/CFT resolutions and decisions issued by
competent bodies and keep records of all AML/CFT matters.
Qatar is in substantive compliance with AML/ CFT.
¡
Qatar participant to most of the international forums
15
Doha Bank and Lulu Hypermarkets Celebrating a Grand Year of
Success of the Lulu-Doha Bank Shopping Credit Card
A commemorative cake in the shape of the Lulu Doha Bank
credit card was cut by the management and staff of both
Doha Bank and Lulu Hypermarkets who were present to
grace the special event marking the first anniversary of the
launch of the Lulu-Doha Bank Shopping credit card.
Doha Bank,
Qatar’s leading financial
institution, together with EMKE Group
Lulu Hypermarkets Inc, the leading departmental and
hypermarket chain in the GCC، recently held a very
special event together to mark the first anniversary of
the launch of the Lulu-Doha Bank Shopping credit card.
The Lulu-Doha Bank shopping credit card is Qatar’s
first shopping credit card and the only credit card that
guarantees cardholders an instant 5% savings on all
purchases made across all Lulu Hypermarkets in Qatar.
As a commemorative cake in the shape of the Lulu
Doha Bank credit card was cut by the management
and staff of both Doha Bank and Lulu Hypermarkets
who were present to grace the special occasion. Doha
Bank Group CEO, Dr. R. Seetharaman, stated “This is
undoubtedly the most rewarding shopping credit card
in town, and customers have enjoyed un-beatable
value since June 2011 across all Lulu outlets. What’s
more, purchases outside Lulu also enable cardmembers
to save 1% thus making shopping a more rewarding
experience. Doha Bank is extremely proud and
privileged to partner with Lulu to reward our mutual
credit cardholders with savings and benefits all year
round”.
¡
Card free-for-life to all new customers
Part of the anniversary celebration also included an
announcement that the Lulu Doha Bank credit card
would be available free-for-life to all newly issued
cards up to 31 December, 2012. This will allow even
more customers to enjoy the unique and rewarding
experience that the Lulu-Doha Bank shopping credit
cardholders currently enjoy, as the year round 5%
savings is the first and only one of its kind jointly
extended by a hypermarket/ bank in Qatar.
Also present at the celebration, Mr. Mohamed Althaf,
Regional Director of Lulu Hypermarkets said: “This
unique credit card of ours guarantees customers a 5%
savings each time they shop at Lulu. We are delighted
to partner with Doha Bank for the mutual benefit of
our customers and look forward to working with Doha
Bank to come up with more exciting offers in the very
near future.
16
¡
Priority check-out counter
Both Doha Bank and Lulu Hypermarkets will continue
to collaborate to add more benefits and deliver
surprises and offers on an on-going basis to their cobranded cardholders throughout the rest of the year.
One of these benefits includes a priority check-out
counter for cardholders at all Lulu outlets.
As part of an offer with MasterCard, all Lulu Doha Bank
Titanium MasterCard holders who used their credit for
purchases in Qatar and overseas during 1 April and
30 June 2012 were entered into a lucky draw to win
US$10,000 or one of 30 ipads. Two lucky Lulu-Doha
Bank Titanium MasterCard holders who used their
shopping credit cards, namely Mr. Shailesh Wattamwar
and Mr. Harshadkumar S. Chauhan, together with their
families, expressed delight at their state-of-the-art iPads
which were handed over to them by Doha Bank’s head
of retail banking, Mr. Suresh Bajpai, and the executive
manager of retail banking, Mr. Nabil Tabbara, at the
event.
¡
5% off purchases
All Lulu-Doha Bank credit cardholders who shop at
either Lulu Hypermarket in D-Ring Road or Gharaffa,
the Lulu Centre in Al Sadd, Lulu Express in Al Rayyan
or the brand new Lulu Hyper at Al Khor Mall, receive
a whopping 5% off their purchases of groceries,
electronics, cosmetics, clothing, footwear, sarees, toys,
and all other items offered by Lulu in the department
store. The Titanium card benefits also include a warm
welcome at airport lounges across the Middle East on
production of the card.
To apply: simply SMS ‘LULU’ and send it to -92610- or
visit any LULU Hypermarket or Doha Bank branch.
More information is available at www.dohabank.com.
qa, or via calling Hello Doha on 44456000.
Doha Bank Inaugurates Lulu Al Khor Electronic Branch
Serving Qatar’s Communities at Every Corner of the Country
The opening of the Lulu Shopping Mall in Al Khor was
attended by H. E. the Vice Chairman Mr. Ahmad Abdul
Yousuf Obaidan Fakhro, Doha Bank Group CEO, Dr. R.
Seetharaman, Mr. Yusuffali M. A., Managing Director
of Emke Group and Mr. Mohammed Althaf, Regional
Director of Lulu Hypermarkets-Qatar, and a number of
senior Doha Bank officials.
During the
staggering opening of the Lulu
Shopping Mall in Al Khor, which was attended
by senior officials from Doha Bank, lead by his
Excellency the Vice Chairman Mr. Ahmad Abdul
Yousuf Obaidan Fakhro and an assembly of loyal
customers, Doha Bank’s CEO, Dr. R. Seetharaman
and Mr. Yusuffali M.A., Managing Director of
Emke Group and Mr. Mohammed Althaf, Regional
Director of Lulu hypermarkets-Qatar, cut the
ribbon hand in hand announcing the opening
of Doha Bank’s latest and most sophisticated
electronic branch facing Lulu Fresh Market.
With a lively presence of photographers,
videographers and people from the media scene,
Doha Bank Group CEO, Dr. R. Seetharaman,
asserted Doha Bank’s undivided commitment to
delivering a distinguished service and in providing
a pleasing banking experience to all customers
visiting its branch.
¡
Exclusive standards for convenience
On the occasion, Dr. Seetharaman said: “We are
glad to witness Lulu’s revolutionary growth in
every corner of the country and we are proud to
join efforts to bring about absolutely the best. This
e-branch will be servicing the entire area and the
customers visiting this dynamic versatile mall, with
exclusive standards for convenience and a wideranging selection of banking services and products
to meet all banking needs, while spending quality
time at the mall”.
He added: “Because of the Dynamic Lulu Doha Bank
shopping credit card,
customers in Al Khor can now enjoy the great
benefits of saving 5% each time they shop at Al
Khor Lulu Mall”.
¡
Benefits for Dream cardholders
Mr. Nabil Tabbara, Executive Manager of Retail
Banking at Doha Bank, said: “In Al Khor Mall,
Doha Bank’s Dream cardholders can also benefit
from the valuable Dream loyalty program,
whereby they can redeem their Dream Points,
which are as good as cash, to go on a free
shopping spree at some of the most prominent
stores at the Mall, which include Top Note- Al
Salam Group, Marhaba Jewelry, Sky Jewelry, Jumbo
Electronics, Al Dar Optics, Al Suleiman Jewellers,
etc.
The new e-branch is well-appointed with internet
banking and phone banking facilities, and offers
unrivaled services on its multifunctional ATMs, such
as cash withdrawals, cash deposit, cheque deposit,
bill payments, mobile credit top-ups, charitable
contributions and much much more. Also, the
electronic branch at Lulu Al Khor offers Doha
Bank’s valued customers fast secure e-remittances
and at the most competitive rates”.
All ingenuities at Doha Bank indeed reflect what
the bank’s slogan stands for–“There’s so much to
look forward to”. For enquiries, call Hello Doha on
4445 6000, or visit www.dohabank.com.qa.
17
Doha Bank Launches
“Go for Gold” Campaign
Doha Bank Group CEO, Dr. R. Seetharaman, with senior
officials from Doha Bank at the launch of the “Go for
Gold”-campaign, which provides an opportunity to buy
gold bars from the bank.
Doha Bank has
launched its “Go for Gold”
campaign, which provides an opportunity
to buy gold bars from the bank. If you are
looking to buy the purest gold bars, in flexible
denominations of 5 grams up to 1 Kilograms
at the most competitive price, you now have a
definite destination – Doha Bank.
Rightly, Doha Bank comes your way this summer
with sparkling gold from the most prominent
renowned Swiss brands to ensure you benefit
from the great prospects of investing in gold, to
preserve your wealth against unsecure political
and economic conditions and the prevailing
inflation in the markets.
Earlier, Doha Bank launched the gold investment
related product, which is remarkably appealing,
continues to sustain its leading position by selling
gold bars to jewelers, investors and individual
customers. Initially, the selling counter is located
at its Main Branch at Grand Hamad Street.
Corporate Customers and high net worth
individuals are offered greater flexibility and
security to buy large quantities at the Bulk Cash
Center at Grand Hamad Street, with extended
working hours from 8:00 a.m. to 1:00 p.m. and
4:00 p.m. to 8:00 p.m., Saturday to Thursday.
¡
A safe haven for investing your money
On the occasion, Dr. R. Seetharaman, Doha Bank
Group CEO, said: “With investors having concerns
on economic developments, it’s no wonder to
seek gold as a safe haven for investing your
money to reap the opportunities, and we have
18
made it possible for
every one of you. Gold as an asset
class has also helped investors to protect and
create wealth. It continues to act as a vehicle to
hedge portfolios against inflation and maintain
purchasing power”.
“Surely, if you’re looking to buy gold or to
diversify your wealth into gold-related products,
Doha Bank Treasury Department is at your
disposal from 8:00 a.m. till 10:00 p.m. SundayFriday, to assure you get the best service”, said
Mr. K. V. Samuel, Executive Manager, Treasury &
Investment Department.
Mr. Suresh Bajpai, Head of Retail Banking at Doha
Bank said: “You can now secure your wealth
against inflation with the gold as a traditional
store of value in the low-interest yielding
economic environment currently prevailing,
while benefiting from the greatest flexibility to
liquidate the gold at any time, as gold is a highly
liquid asset”.
For further information, kindly contact our
Treasury on 40155330-40155333, call Hello Doha
on 44456000, or visit our Main Branch and the
Bulk Cash Center, located on Grand Hamad
Street.
For more information:
visit www.dohabank.com.qa.
Get a Loan Against Your Owned Gold
from Doha Bank
The “Loan Against Gold”-campaign
is the first time that a bank in Qatar
gives everyone in the country the
opportunity to get an instant cash
loan by pledging their owned gold
charms, bracelets and jewelry.
Doha Bank
announced today, positively
astounding news, which will shake the credit
market in Qatar. Doha Bank has just announced
the launch of an innovative loan product, Cash
Loan against your Owned Gold. It’s the first time
that a bank in Qatar has launched this product.
As of today, everyone in the country can get an
instant cash loan by pledging their owned gold
charms, bracelets and jewelry.
Isn’t this great news? With the assured security
of your owned gold that Doha Bank is giving
you, whether you are a Doha Bank customer or
prospect, you can get instant liquidity without
having to sell your belongings. This is certainly a
smart way to tuck your gold safely in the bank,
and an awesome opportunity to make the best out
of it.
Now, you can get your gold to Doha Bank,
appraise it and obtain a loan up to 60% of the
gold value. What makes this loan even more
attractive is the fact that the price of gold is
based on the best market values and at the most
encouraging rates. Excitingly, the loan can be paid
off in flexible equated monthly installments up to
36 months period. So what are you waiting for?
¡
Giving customers better
purchasing power
On the occasion, Dr. R. Seetharaman, Doha Bank
Group CEO, said: “We won’t stop exploring
innovative methods to deliver the highest
value to our customers, especially with regards
their financial needs and security. Our loans
granted against gold are deliberately designed
to give customers better ways of maintaining
their purchasing power without forsaking their
cherished gold or valuable belongings”.
He added: “So don’t wait, visit Doha Bank today
and get an oversize loan against your gold, given
the current gold prices are at an all-time high this
year”.
Mr. Suresh Bajpai, Head of Retail Banking at Doha
Bank, said: “We are offering our customers the
loan against their owned gold, with hassle-free
simplified paperwork, quick processing, easy
repayment options and attractive interest rates.
Besides, they don’t need to transfer their salary in
case they are employed”.
For further information, call Hello Doha on
44456000. For more information visit www.
dohabank.com.qa.
19
Doha Bank Enters in Agreement with
Indiabulls for NRI Home Loans
Dr. R. Seetharaman, Doha Bank Group
CEO, and Mr. Ajit Mittal, Group
Executive Director of Indiabulls, after
signing the agreement for offering of
Mortgage Loans to NRI customers for
acquiring properties in India.
Doha Bank entered into an
agreement with Indiabulls Group for
offering of Mortgage Loans to NRI customers for
acquiring properties in India. The signing ceremony
was held at Doha Bank Head Office at West Bay.
The agreement was signed by Dr. R. Seetharaman,
Doha Bank Group CEO, and Mr. Ajit Mittal, Group
Executive Director of Indiabulls.
Indiabulls Group is one of the leading business
houses in India in the areas of housing finance, real
estate and infrastructure development. Indiabulls
Housing Finance Company has its presence through
180 branches in 100 cities across India.
¡
A unique arrangement serving NRI customers
Doha Bank’s NRI customers will be able to seek
mortgage loans from Indiabulls to acquire
properties in India. This is a unique arrangement to
serve NRI customers for their property needs back
home.
Dr. R. Seetharaman said: “The tie-up with Indiabulls
will provide an opportunity to Doha Bank NRI
customers to approach for housing loans to
purchase property in India. We are committed to
serving our customers in every possible manner
and provide them one more financing product
experience, as Doha Bank is the only bank in Qatar
to have such arrangements for its NRI customers”.
Commenting on the alliance of Indiabulls with Doha
20
Bank, Mr. Ajit Mittal –
Group Executive Director, Indiabulls Group,
said, “The partnership with Doha Bank marks
an important milestone in Indiabulls’ quest for a
global footprint, GCC in general and Qatar, Kuwait,
and UAE in particular. We are very proud to have
partnered with Doha Bank, which is one of the
largest retail banks in Qatar – we would serve the
growing demand from expatriate Indians for home
loans and property acquisition. Our housing projects
have evoked a tremendous interest among the NRI
community”.
¡
Helping people realize their dreams
The Executive Vice President of Indiabulls Group, Mr.
Kubeir Khera was also present on the occasion. He
said, “Our constant innovations are changing the
skylines of Indian cities. Our financial products are
helping people realize their dreams. We are glad to
be getting associated with Doha Bank”.
Mr. Chris Fellner, Head of International Banking,
Doha Bank, highlighted that this arrangement will
provide convenience to NRI customers to get hasslefree housing loans to acquire properties in their
home country, going forward Doha Bank will also
expand these offerings through its branches in the
UAE and Kuwait. He added that Doha Bank also
offers remittances to India as instant credit, the NRI
customers can directly transfer money to India from
their Doha Bank account.
Doha Bank Assurance Company LLC (DBAC)
Opens First Retail Branch
Doha Bank’s wholly-owned insurance subsidiary, Doha Bank
Assurance Company LLC (DBAC), has opened the first insurance
branch fully dedicated to retail on the ground floor of their C-Ring
Road headquarters.
Doha Bank is pleased to
announce that it’s wholly-owned insurance subsidiary,
Doha Bank Assurance Company LLC (DBAC), has opened
the first insurance branch fully dedicated to retail on
the ground floor of their C-Ring Road headquarters.
In addition to the comprehensive insurance services
offered by DBAC to corporate and SME customers,
DBAC offers personal lines business, motor, buildings
and contents, medical, travel and personal accident
insurance coverage, both “off-the-shelf” and “tailormade” to suit the individual customer’s insurance
needs.
¡
A key element in the provision of enhanced
financial services
Dr. R. Seetharaman, Doha Bank Group CEO, said
”Established as a key element in the provision of
enhanced
financial services of
Doha Bank Group to its customers,
DBAC is an important component in Doha Bank
Group’s ongoing efforts to continue to expand its
range of services and to continue to grow and evolve
as a one-stop-shop for top quality financial services.
DBAC has already established a presence in the Qatar
general insurance market for corporate, SME and
reinsurance customers, and has now reached a new
milestone by entering the retail general insurance
segment. In addition, the Retail Division of Doha
Bank will continue to offer life insurance services
through its Bancassurance outlet on the second floor
on C-Ring Road”.
DBAC, a fully owned subsidiary of Doha Bank, is the
first general insurance company promoted by a Qatari
bank to be licensed by the Qatar Financial Centre
Regulatory Authority. DBAC has also achieved the ISO
9001:2008 certification, a global symbol of compliance
with established standards and business excellence.
DBAC has also been awarded Counterparty Credit
& Insurer Financial Strength rating of BBB/Stable by
Standard & Poor’s.
21
Ready to Be Part of a Greater Community….
Doha Bank and iLoveQatar.net Join Efforts
to Make a Difference in Qatar
Mr. Nabil Tabbara, Executive Manager of Retail
at Doha Bank, with iLoveQatar.net officials, after
launching the partnership.
iLoveQatar.net (ILQ)
and Doha Bank have recently
concluded a pact to support each other
in engaging with the local communities residing in
Qatar. Marked as the first partnership of its kind in Qatar,
the two organizations have joined hands with the common
goal of ‘making Qatar a better place’.
ILQ first started as a web resource and general guide to
living in Qatar. It soon launched an open forum, where
users were encouraged to share and support each other. It
has now become a reliable source for people searching for
a comprehensive guide for living in Qatar, a trusted source
for serious answers to new developments and occasions
in the country, up to the minute news, and a community
that’s stretched over to thousands of followers on Twitter,
almost 30,000 Facebook fans, and even with a spot on QF
Radio.
¡
ILQ a trusted brand in Qatar
What makes ILQ special is that it is built around what the
people want, giving them a voice and is practically run by
the community as well. Profits generated off the website
are spent on the community that helped them grow in the
first place as well as support charitable causes. Today ILQ
has become a trusted brand in the country.
Doha Bank believes that engaging with the online
communities, including I Love Qatar’s base of tens of
thousands of subscribers is important in order to educate
them when it comes to banking. This partnership serves
equally Doha Bank and I Love Qatar for many reasons.
Doha Bank will have an additional cherished station to
share its greatest insights and developments which will
certainly educate the community greatly, while I Love
Qatar will have an addition to the family of facilities that
will support its fan base and equally benefit them through
offering the best in class access to great banking services.
¡
The “calculated coincidence”
With a shared vision in place and on the unique occasion,
Mr. Nabil Tabbara, Executive Manager of Retail Banking,
said: ”It all started when a young enthusiastic socially
22
responsible gentleman
stepped into our offices. It was a
‘calculated coincidence’ that what Doha Bank has
always believed in and works towards, was reflected in the
initiative behind I Love Qatar, and we are proud to endorse
it and support it through this first-time partnership. As
of today, Doha Bank will support I Love Qatar’s sincere
initiatives by sponsoring the caring messages and events to
our loyal customers too”.
He continued: “Doha Bank continues to find ways to
engage with all communities in Qatar in a two way
communications, and we believe that this is where
our strength lies. I Love Qatar certainly pleases our
determination in interacting not only with Doha Bank
customers, but rather with all the people living in Qatar”.
¡
Proud to partner up with Doha Bank
Both Mr. Khalifa Saleh Al Haroon, founder of iLoveQatar.
net, and Mr. Bassam Al Ibrahim, co-founder of ILQ,
regarded the partnership as a milestone to increasing
ILQ’s reach. Mr. Khalifa went on to say, “ILQ is built on the
foundation of strong partnerships. We are so proud to
partner up with Doha Bank. We’ve always been supportive
of all of their community focuses and socially responsible
initiatives. We’ve made a promise to the community that
we’d be doing some great things in Qatar and we believe
that Doha Bank can help us do that. I think people will be
quite excited with what we have in store”.
Mr. Al Haroon added, “we’ll be giving users access to the
latest events and news on Doha Bank’s ATM machines,
special promotions, partnering up for more charitable
causes, and more importantly, giving people more reasons
to love Qatar”.
Mr. Al Haroon ended, “I’ve really loved working with the
Doha Bank team, these guys really are a caring bunch, and
they’re geeks too! These guys really love their gadgets and
tech, just like us. I can’t wait to share more with everyone
as soon as possible”.
The Best Car Loan Offer in Qatar...
Brought to You by Doha Bank
Doha Bank’s Car loan is offered
at 0% interest rate for the first six
months, a 3 month grace period,
competitive rates on car insurance,
and a package of unique valueadded products and services.
The one sure
thing that Doha Bank
brings about is the best loan deals in
town. Equally, during this Ramadan season, people
need no more searches for any car loan offers,
without considering Doha Bank.
If you are still wondering where to get your car loan
this summer, we have one advice for you. Doha Bank
car loan offer is absolutely and by far the best car
loan deal in town, so come and grab the opportunity
before you miss the limited time offer!
What’s better than a car loan offered at a 0%
interest rate up to six months instigating the lowest
rate for the entire duration? That is definitely not all,
as you will catch up this summer a 3 months grace
period on your car loan instalments, competitive
rates on your car insurance and a package of unique
value added products and services.
On the occasion of the launch of the new car loan
offer, Dr. R. Seetharaman, Doha Bank Group CEO,
said: “Actually, Doha Bank has become through the
years the preferred bank for the savvy customers
who expect the best from their trusted bank”.
He added: “This summer, we are making it
affordable for you to buy the car you’ve been
longing to get, and giving you the chance to win
your car loan value back. In other words, you will get
your CAR FOR FREE!”.
¡
Easy and fast approvals process
Mr. Suresh Bajpai, head of retail banking at Doha
Bank, added: “What makes our car loan categorically
the finest in the market, is also the easy and fast
approvals process, which has been premeditated to
meet your expectations at every stage to deliver a
pleasing banking experience. Actually, financing can
be arranged at the customer’s door step and deals
can be finalized at any dealer showroom with a
dedicated Doha Bank representative”.
He continued: “What’s more? The loan applicant will
also get a complementary Titanium Tint worth QR
1,500, provided the loan amount is more than QR
50,000”.
The latest offer is part of the bank’s continuing
efforts to provide value added benefits to its
customers and to ensure again and again that Doha
Bank is your preferred bank, following the bank’s
slogan “There’s so much to look forward to”. For
further inquiries please call 4445 6000, or visit our
website www.dohabank.com.qa.
Also, follow us on Facebook, Twitter, Google+,
mySpace, YouTube and LinkedIn, to be the first to
know and to share with us your valued feedback.
23
Doha Bank Announces the Lucky Winners of MasterCard’s
“Travel, Spend and Win” Promotion
One of the lucky winners of
the MasterCard Travel, Spend
and Win Promotion, receiving
his prize, an Apple iPad, from
a Doha Bank official, in the
presence of Mr. Nabil Tabbara,
Executive Manager of Retail
Banking.
Doha Bank today
announced the lucky winners of
MasterCard’s “Travel, Spend and Win” promotion.
Mr. G. M. Dehaimi, a Dream MasterCard cardholder
from Doha Bank’s Gharaffa branch, and Mr.
S. R. Chulliparam, another Dream MasterCard
cardholder from the Mesaieed branch, each won a
state-of-the-art iPad.
Doha Bank’s MasterCard cardholders, including
Doha Bank Dream credit cardholders, LULU
shopping credit cardholders and Regency Travels
“Traveller” pre-paid cardholders who used their
credit and pre-paid cards for purchases in Qatar
and overseas between 1 April and 30 June 2012,
were entered into the draw for a chance to win
US$10,000 and 30 iPads.
Commenting on their prizes, the winners expressed
their joy by saying, “We would like to thank Doha
Bank and the Dream MasterCard card program for
rewarding us with these amazing gadgets”.
¡
Constantly striving to provide unique prizes
and surprises
Mr. Nabil Tabbara, Executive Manager of Retail
Banking at Doha Bank said: “Together with
24
MasterCard,
we at Doha Bank
constantly strive to provide unique
prizes and surprises to our loyal customers. The
“Travel, Spend and Win”-promotion offered people
a chance to win big with every transaction made
using their MasterCard cards for all domestic and
international purchases at point of service or online
purchases”.
In addition to special offers from MasterCard, for
the 3rd consecutive year, Doha Bank cardholders
enjoy the most attractive credit card promotions
in the market with the “5678” growing cards
benefit campaign. All Doha Bank credit cardholders
including Dream, Green, LULU or premium
Platinum and Infinite credit cards can benefit from
attractive cash back offers on overseas spend, Qatar
Duty Free as well as Lucky Draw prizes of up to
QR10,000.
To apply for a Dream or LULU credit card, SMS
DREAM or LULU to 92610 today. More details on
www.dohabank.com.qa.
Be the Next Millionaire This Month
September Prizes up to 2 Million Qatari Riyals
All eyes in Qatar are on the
September prizes worth 2 MILLION
Qatari Riyals.
It might be 8
months since the launch of Al Dana
2012, but it isn’t over because some things in life
are just worth waiting for. INVEST NOW to get the
chance to win the biggest cash prizes of the season
that will delight your opulent appetite for winning
just at the time, with an assortment of 4 prizes in
September.
Now all eyes in Qatar are on the September prizes
worth 2 MILLION Qatari Riyals. With QR 1,000,000,
QR 500,000 and QR 250,000 to be disbursed each to
one lucky winner, you surely have great chances of
lounging yourself in the sun with a nice cocktail and
thinking of fulfilling all the wishes that your heart
has thought of. Also, you will be enrolling in the
raffle draw to be one of the 5 winners of QR 50,000
to ensure you are not empty handed just in case
you missed the biggest prizes.
¡ QR 6,000,000 awarded this year to
loyal customers
Imagine! This year only, Al Dana has so far awarded
QR 6,000,000 to 44 loyal Al Dana customers who
have maintained a minimum monthly balance of
QR 1,000, while giving extra chances with every
additional QR 1,000 to ensure loyalty is reciprocated
with a bucket of cash.
While experiencing the lifestyle of the millionaires,
F. A. H. Al-Salmi, the winner of the QR 1,000,000
in the 6th Al Dana draw, which was conducted in
July 2012 said: “I have discovered lately that with
Al Dana, sometimes sequels can be better than the
prize
itself. When I won
the money I was crazed with excitement
thinking about what a QR 1,000,000 could buy me,
but the magnitude was something that can never
be bought or even planned, which is the peace of
mind and tranquility of securing the future of my
family”.
¡
Coaching young children responsible
money habits
On the occasion, Dr. R. Seetharaman, Doha Bank
Group CEO, said: “Because we are a socially
responsible bank, Al Dana is coaching your young
children responsible money saving habits. In
addition to the great monthly prizes comprising
laptops and PlayStations, your kids might get the
chance to win a trip to Mickey’s Wonder World
– Disneyland – this September. And for those of
you who cherish education, school fees for five
consecutive years, worth up to QR 125,000 still
awaits one lucky young Al Dana winner this year”.
“You can be the next millionaire, with numerous
valuable cash prizes to be won this year still. Invest
now to be amongst the September winners”, Mr.
Suresh Bajpai, head of Retail Banking at Doha Bank
commented.
Invest in Al Dana and enjoy a New Life. Call
44456000.
25
Light News
Doha Bank Team Building and Recreation
Winners of Doha Bank staff sports tournament.
Doha Bank’s belief in sports in life to promote,
team building, inter-relations and a healthier
living, continued during the 1st half of 2012, where
they organized various sporting and recreational
events for the staff.
The most recent event being the tri-sport
tournament held at the Qatar Bowling Center,
where Bowling, Billiard and Table Tennis
tournaments took place simultaneously. On an
action packed Saturday, the Bowling Center was
reserved exclusively for Doha Bank staff and their
families to hear the rumbling of the Bowling Ball,
cracking of the Billiard Balls and clicking of the Ping
Pong Balls. While over 35 teams took part in the
bowling tournament, around 75 staff participated
in the Billiard Tournament and 60 staff in the Table
Tennis Tournament.
Attractive cash awards were given to the top 5
bowling teams with special awards for individual
skills, Best Uniform and also the lowest scoring
team. While the Billiard tournament had two
26
categories of awards for Singles and Doubles,
Table Tennis was played under categories of
Men’s Singles, Women’s Singles, Men’s Doubles
and Mixed Doubles. All cash prizes were awarded
by Doha Bank’s CEO, Dr. R. Seetharaman and
Head of Wholesale Banking, Mr. Dag Reichel.
There was a separate mini tournament for the
kids where gift vouchers were given away by the
Head of Treasury & Investment, Mr. Anthony Lee.
Earlier during the year, Doha Bank held its
annual staff cricket tournament which included
mandatory participation for female staff and
non cricketing nations. They had also organized
the Brain Power Staff Quiz Competition where
over 20 teams participated in the fun filled event
testing their knowledge through lots of laughter.
While Doha Bank is currently participating in
the Katara Beach Football tournament, they
have scheduled to hold the annual Football
tournament, Tennis Tournament and the annual
staff get-together after the completion of the
Ramadan season.
Light News
Doha Bank Appoints New Head of Retail Banking
Doha Bank has appointed Mr. Suresh Bajpai as Head of Retail Banking.
Mr. Suresh Bajpai holds a MBA Degree and is a career banker with an extensive
experience of around 29 years in Retail Banking; out of which he was associated
with Citibank for more than 2 decades. During his career with Citigroup, he
worked in Asia Pacific, Europe, Middle East and Africa, London and in the United
States.
Suresh was holding the position of Managing Director and Global Head of
Commercial Banking at the time of leaving Citi, New York.
Mr. Suresh Bajpai
Head of Retail Banking
Suresh has a very broad retail functional experience in diverse areas; Product
Development, Segmentation, Marketing, Technology, Customer Management,
Operations, Credit and Risk. He will be responsible for Retail Banking operations
across the bank and will be overlooking 32 conventional branches, 9 e-branches,
sales & marketing and customer service in Qatar, besides the retail functions of
our overseas branches.
This appointment will definitely strengthen the Retail Banking contribution
towards the Bank’s visions in the forthcoming years.
New Employees
Mr. Wael Rateb
Head of Customer service
Mr. Mohamad Ballan
Chief Information Security officer
Risk Management
Mr. Haythem AL Mudaries
Deputy Head DBAC
July 2011
S/N
Name
Department
Occasion
1
Ms. Zara Mohd Zenan
Clearing Department
Marriage
2
Shk. Ahmed Fahad Al Thani
CCB
Marriage
3
Ms.Minnette Pulayan
HR Compensation andBenefits
Marriage
4
Mr. Akram Jarkho
Finance Department
Marriage
5
Mr. Ahmed Mahmoud Mohammed Ibrahim
DSU
Marriage
6
Mr. Hussain Mohammad Hassan
Retail
Newborn Baby
7
Mr. Ferdinand Generoso
Cards Center
Newborn Baby
8
Ms. Eman Al Sada
Aspire Branch
Newborn Baby
9
Mr. Mohammed Feroz Khan
Cards Center
Newborn Baby
10
Ms. Mye Esmael Al Abbasi
City Center Branch
Newborn Baby
27
Light News
August 2012
S/N
Name
Department
Occasion
1
Mr. Ziad Mash’al
IAD
Marriage
2
Mr. Maged Mandy Ahmed
DSU
Marriage
3
Ms. Sara Alfred John
Bancassurance
Marriage
4
Ms. Aida Sharshani
Transaction Matching & Monitoring
Marriage
5
Mr. Ziad Mash’al
IAD
Newborn Twins
6
Mr. Mustafa Gazi Najem
Main Branch
Newborn Baby
7
Ms. Ma. Abigail Velho
HR Payroll
Newborn Baby
8
Mr. Thivanka Sanithadasa
Treasury & Investment
Newborn Baby
9
Mr. Shakeel Ahmed Butt
DBAC
Newborn Baby
10
Mr. SPB Malith
Finance Dept.
Newborn Baby
September 2012
S/N
1
2
3
4
5
6
7
8
9
10
11
12
Name
Department
Occasion
Hussain Ali Mahmoud Qaderi
Private Banking
Newborn Baby
Rim El Hajjeh
Al Riyada Unit
Newborn Baby
Aminu Nuru
DBAC
Newborn Baby
Dinesh Jayalath
Accounts Department
Newborn Baby
Muhammad Usman Khan
Compliance Dept.
Newborn Baby
Renato Navarro
IBG
Newborn Baby (2)
SPBM Gunawardan
Accounts Department
Newborn Baby
Osama Barakat
Car Loan Unit
Newborn Baby
Subair Chandarambil
Admin. Department
Newborn Baby
Mohammad Ghulam Yasin
DBAC
Newborn Baby
Gracia Hendy
DBAC
Newborn Baby
Tariq Al Shalabi
Central Market Branch
Newborn Baby
October 2012
S/N
Name
Department
Occasion
1
Tariq Al Shalabi
Central Market Br.
Marriage
2
3
4
5
6
7
8
Badeea Hassan
Main Branch
Marriage
Mohamed Fekry Hussein
Central Market Br.
Marriage
Sajjad Hussein Mohd Akram
Main Branch
Newborn Baby
Shakir Mohideen
Central Market Br.
Newborn Baby
Ali Hassan Al Dahri
Ras Laffan
Newborn Baby
Mohd. Ali Dordiani
Main Branch
Newborn Baby
Jessy Kaddoum
Al Mirqab Br.
Newborn Baby
28