27 April 2016
DOHA: Qatar First Bank (QFB) Chairman Abdulla bin Fahad bin Ghorab Al Marri has said the listing of QFB's shares on Qatari bourse is an opportunity to broaden the bank's shareholder base and offer new investors an opportunity to join QFB for the next phase of its journey.
Addressing a gathering at QFB's private banking lounge yesterday, in light of listing the bank's shares today, Al Marri said: "Our listing on the QSE was always a top priority, and we are proud to deliver on this promise to our shareholders who have supported us all these years and to the Qatar market in general."
"This significant milestone - the first listing of a Qatari entity licensed by the QFC and the first listing for a private entity in 6 years - will enable us to continue exploring and evaluating new opportunities that contribute positively to our shareholders value ", he added. The gathering was hosted by Al Marri, QFB's Chief Executive Officer, . Ziad Makkawi, and attended by the Chief Executive Officer of Qatar Financial Center (QFC), Yousuf Mohamed Al-Jaida.
Yousuf Mohamed Al-Jaida said: "QFB's listing on the Qatar Exchange marks an unprecedented success for the QFC. QFB is our first licensed firm to go public and I am confident that this milestone will trigger more listings. The QFC remains committed to providing the right support to facilitate the success of its firms and empower its business community to further develop Qatar's financial services sector"
Ziad Makkawi, noted: "The listing will offer QFB the opportunity to join the rest of the banking community on the QSE, this will allow us greater visibility, tap into new client segments, and empowerment to deliver on our business plan."
The transformation of QFB from an investment focused to an investor focused entity will continue across our main business lines: corporate & institutional banking, private banking & wealth management, treasury & investments,as well as alternative investments with a focus on private equity and real estate.
"We are in a new phase of growth for the bank, and the credibility associated with the listing will support us in this effort", Makkawi added.
QFB was established as one of the first independent Shari'ahcompliant financial institutions licensed by the Qatar Financial Center Regulatory Authority, on September 4, 2008. The Bank's authorized capital amounts to QR 2.5bn and the issued and paid up capital is QR2bn. Since its establishment, QFB has benefited from a strong shareholder base; 50.49 percent represents institutional investors including banks, pension and governmental funds, and corporates from different business sectors, and 49.51 percent represents individual investors including high-net-worth individuals from Qatar and across the wider spectrum of the GCC region.
DOHA: Qatar First Bank (QFB) Chairman Abdulla bin Fahad bin Ghorab Al Marri has said the listing of QFB's shares on Qatari bourse is an opportunity to broaden the bank's shareholder base and offer new investors an opportunity to join QFB for the next phase of its journey.
Addressing a gathering at QFB's private banking lounge yesterday, in light of listing the bank's shares today, Al Marri said: "Our listing on the QSE was always a top priority, and we are proud to deliver on this promise to our shareholders who have supported us all these years and to the Qatar market in general."
"This significant milestone - the first listing of a Qatari entity licensed by the QFC and the first listing for a private entity in 6 years - will enable us to continue exploring and evaluating new opportunities that contribute positively to our shareholders value ", he added. The gathering was hosted by Al Marri, QFB's Chief Executive Officer, . Ziad Makkawi, and attended by the Chief Executive Officer of Qatar Financial Center (QFC), Yousuf Mohamed Al-Jaida.
Yousuf Mohamed Al-Jaida said: "QFB's listing on the Qatar Exchange marks an unprecedented success for the QFC. QFB is our first licensed firm to go public and I am confident that this milestone will trigger more listings. The QFC remains committed to providing the right support to facilitate the success of its firms and empower its business community to further develop Qatar's financial services sector"
Ziad Makkawi, noted: "The listing will offer QFB the opportunity to join the rest of the banking community on the QSE, this will allow us greater visibility, tap into new client segments, and empowerment to deliver on our business plan."
The transformation of QFB from an investment focused to an investor focused entity will continue across our main business lines: corporate & institutional banking, private banking & wealth management, treasury & investments,as well as alternative investments with a focus on private equity and real estate.
"We are in a new phase of growth for the bank, and the credibility associated with the listing will support us in this effort", Makkawi added.
QFB was established as one of the first independent Shari'ahcompliant financial institutions licensed by the Qatar Financial Center Regulatory Authority, on September 4, 2008. The Bank's authorized capital amounts to QR 2.5bn and the issued and paid up capital is QR2bn. Since its establishment, QFB has benefited from a strong shareholder base; 50.49 percent represents institutional investors including banks, pension and governmental funds, and corporates from different business sectors, and 49.51 percent represents individual investors including high-net-worth individuals from Qatar and across the wider spectrum of the GCC region.
© The Peninsula 2016
