Doha, Qatar - 12 November 2006- The Ministry of Energy and Industry has joined the fleet of governmental administrations which have signed agreements with Qatar National Bank to utilize the Points of Sale (POS) and e-Cash card payment system.

The agreement was signed by Mr. Ali Ahmed Al Kuwari, General Manager, Operations and IT, on behalf of QNB and Mr. Said Mubarak Al Kuwari, Manager of Industrial Development Department at the Ministry of Energy 7 Industry. The signing ceremony was also attended by representative officials from both signing parties and by Mr. Muftah Jassem Al Muftah from the Ministry of Finance.

This agreement comes in line with the government's intentions to replace the conventional postal stamp and cash collection system in official departments with the POS system which accepts Visa, MasterCard, and e-Cash cards.

Adopting this system will elevate the quality of services offered in the state's departments, especially that the new collection system makes use of the latest data technologies.

QNB, the country's leading financial institution, had launched the pre-paid electronic card, e-Cash, in May 2005 with the cooperation of the ministries of Finance and Interiors.

The card is issued immediately in dedicated locations in QNB branches in The Mall and City Center as well as the locations of the Ministry of Interiors such as the Traffic Department, the Immigration Building, and Doha International Airport. The card will be issued in all QNB branches in the near future.

The e-Cash card is valid for two years from the date of purchase and can be recharged by QNB representatives in the previously mentioned institutions and dedicated QNB ATM machines.

According to the signed agreement with the Ministry of Energy and Industry, QNB will assign permanent employees for the purpose of issuing the e-Cash card and recharging it, in addition to providing the governmental departments with the POS machines.

The Ministry of Finance has expressed its confidence in QNB's role as a major partner in updating the country's departments and administrations and developing their abilities. Earlier this year, QNB signed a number of similar agreements with other governmental bodies in which it accomplished this project with unparalleled experience and merit.

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Qatar National Bank (QNB)
Qatar National Bank (QNB) was established in 1964 as the country's first Qatari-owned commercial bank, with an ownership structure split between the Government of Qatar (50%) and the private sector (50%). 

QNB has steadily grown to be among the largest banks in the region and is by far the leading financial institution in the country with a market share approaching 45% of banking sector assets.  QNB has the largest distribution network of 37 local branches and offices and 100 ATM's.

QNB international presence is rapidly expanding with new locations in Singapore and Libya (Representative Offices) and Yemen (Branch), supplementing existing branches in London and Paris and a Representative Office in Iran.  The London-based Ansbacher, QNB's Wealth Management and Private Banking subsidiary, operates in Switzerland, Channel Islands, Dubai International Financial Center and Qatar Financial Center. Ansbacher, was the first financial institution to be granted a license to operate at Qatar Financial Centre providing a wide range of wealth management services in Qatar and the region.

QNB offers a full range of retail, corporate, investment, treasury, wealth management, and Islamic banking products and services for individuals, corporate institutions and government entities. QNB is constantly striving to provide intelligent banking solutions and its range of products and services, and delivery channels across all disciplines continues to be unrivalled.  

Through its affiliate, Al Watani Al Islami, QNB was the first commercial bank in Qatar to offer Islamic Banking products and services, and the first Qatari bank to launch equity funds (Al Watani Funds) for companies listed in the Doha Securities Market.

QNB has the highest credit rating among Qatari banks from leading rating agencies including Standard & Poor's, Moody's, Fitch, and Capital Intelligence.   The Bank has also been the recipient of the "Best Bank in Qatar" Award from leading international specialized financial publications including: The Banker, Euromoney, Global Finance and Project Finance. 

QNB has an active community support program and sponsors various social, educational, and sports events.  QNB is the Official Bank of the 15th Asian Games Doha 2006.

For further information, please contact Ali Abdul Ghani, Public Relations manager, Office 4407890- Mobile 5505729 or email ali.ghani@qnb.com.qa

© Press Release 2006