QNB Group and the Qatar Financial Centre (QFC) have signed a memorandum of understanding under which the financial center will refer newly licensed firms to the bank to open corporate accounts, Qatar News Agency reported on Wednesday.
The QFC will promote QNB as one of its strategic partner banks. QNB will offer its products and services to QFC firms and their employees, with the aim of shortening onboarding times.
The two organizations will also explore linking their digital platforms so that firms can open accounts directly through the QFC’s online platform.
On capital markets, they will study cooperation on Euro Medium Term Note programs, special purpose company structures and financing platforms set up through the QFC. They will also look at treasury, liquidity management and financing solutions, as well as tokenization and digital assets.
The partners plan to form technical working groups to take the capital markets initiatives forward.
“Access to banking is one of the first things any firm needs when setting up in Qatar, and we want to make that easy for QFC firms and their employees,” said Mansoor Al Khater, Chief Executive Officer of the QFC.
Abdulla Mubarak Al Khalifa, Group Chief Executive Officer of QNB Group, said the bank aims to make access to banking services “more seamless for businesses entering the Qatari market, while exploring opportunities to deepen capital markets and broaden access to financing.”
Over the coming year, the QFC and QNB will hold workshops, training sessions and industry roundtables, and will engage institutional investors, international banks and law firms.
