Doha – Qatar: The Qatar Financial Centre (QFC), a leading onshore financial and business centre, has signed a Memorandum of Understanding (MoU) with The Commercial Bank (P.S.Q.C.) (CB), one of Qatar’s most established financial institutions, to facilitate access to banking services for QFC firms.

Under the MoU, QFC will promote Commercial Bank as a strategic banking partner to companies licensed on its platform. In turn, Commercial Bank will design a customised banking offering for QFC firms and their employees, providing relevant products and services to eligible parties, including immediate banking services to newly licensed firms.

The agreement also establishes a framework for collaboration in fintech and digital assets. This includes joint ecosystem engagement, events and hackathons to drive fintech innovation, as well as the development and testing of tokenisation opportunities through QFC's Digital Assets Lab. The partnership also provides for the collaborative hosting of workshops throughout the year, giving QFC-licensed firms access to financial expertise and market insights.

Commenting on the MoU, Mr. Mansoor Rashid Al-Khater, Chief Executive Officer, QFC, said, “This collaboration delivers tangible value for Qatar’s business community and the broader economy, while reinforcing our commitment to an efficient and supportive environment for businesses operating within the QFC. By working with Commercial Bank, we are creating a more straightforward pathway for our firms to access the banking solutions they need to grow with confidence.”

Stephen Moss, Group Chief Executive Officer, Commercial Bank said: “This agreement with Qatar Financial Centre reflects our shared commitment to strengthening Qatar’s position as a leading financial hub, while making it easier for companies to do business. By streamlining onboarding and enhancing digital connectivity, we are enabling firms and their employees to operate with greater ease, reinforcing our role as a trusted banking partner.”

Both the QFC and Commercial Bank play a key role in facilitating business development and growth in Qatar. This MoU advances their efforts to deliver more effective support to businesses through enhanced access to financial services, collaborative initiatives, and knowledge-sharing programmes.

About Qatar Financial Centre (QFC)

The Qatar Financial Centre (QFC) is an onshore business and financial centre located in Doha, providing an excellent platform for firms to do business in Qatar and the region. The QFC offers its own legal, regulatory, tax and business environment, which allows up to 100% foreign ownership, 100% repatriation of profits, and charges a competitive rate of 10% corporate tax on locally sourced profits. The QFC welcomes a broad range of financial and non-financial services firms.

For more information about the permitted activities and the benefits of setting up in the QFC, please visit www.qfc.qa

@QFCAuthority | #QFCMeansBusiness

About Commercial Bank

The Commercial Bank was incorporated in 1974 as the first private bank in the country. It stands as one of Qatar's leading financial institutions, with a profitable track record since its inception, and is the second-largest conventional bank in Qatar. Today, the Group continues to play a pivotal role in driving innovation and raising banking service standards across the region through investment in new technology, a strong customer focus, and prudent management.

@CBQAT

Media Contact

QFC Corporate Communications

Rasha Kamaleddine | r.kamaleddine@qfc.qa

Commercial Bank Corporate Communications

Rowaida Alameddine | rowaida.alameddine@cbq.qa