Doha 20 December 2006- In collaboration with the Ministry of Finance, Qatar National Bank (QNB) signed an agreement with the Ministry of Civil Service Affairs and Housing to implement the payment collection system by Points of Sale (POS).This system is expected to drastically change the way fees and charges are paid in this Ministry.

The agreement was signed on behalf of QNB by Mr. Ali Ahmed Al Kuwari, Operations and IT General Manager, and on behalf of the Ministry of Economy and Commerce by Mr. Shareeda Abdallah Al Muhannadi,  Acting Financial Affairs Manager at the Ministry. The signing ceremony was also attended by representative officials from both signing parties under the supervision of the Ministry of Finance, in the presence of and by Mr. Jassem Al Muftah Manager of Public Revenues and Taxes.

The agreement is based on the Government's directives to suspend the current cash and stamps collecting system for all official transactions in ministries and governmental departments and to replace it with the POS system. The new payment collection system will also accept Visa, MasterCard and NAPS cards, in addition to the QNB e-Cash card.

According to the signed agreement, QNB will install the POS systems at the Ministry of Civil Service Affairs and Housing and assign permanent representatives of the bank to issue and recharge e-Cash cards.

QNB, the leading bank in Qatar, had launched the e-Cash card in cooperation with the Ministries of Finance and Interior in May 2005. This prepaid electronic card can be issued immediately from designated locations in QNB branches including those at The Mall and City Center, as well as the Traffic Department, the Passports and Immigration Building, and Doha International Airport. All QNB Branches will be issuing the card in the near future.

The card is valid for two years from the issuance date and can be recharged by the e-Cash card sales representatives, besides QNB ATMs.

Utilization of e-Cash card will elevate the quality of service in the different government departments especially that the POS system uses state-of-the-art technology in the world of data processing. The many benefits of the new payment system include: eliminating the need for postal stamps, facilitating the accounting process, solving the problem of authentication, and introducing an ideal payment method for company representatives and holders of large amounts of money.

The Ministry of Finance praised this leading step and its role in developing the public sector's abilities. It also emphasized the strategic role that QNB is playing in developing public institutions thanks to its long experience and merit in this field.

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About QNB
QNB was established in 1964 as the country's first Qatari-owned commercial bank. The ownership structure is split between the Government of Qatar (50%) and the private sector (50%). QNB has grown to become the largest bank in Qatar controlling assets representing approximately 45% of the total banking system.

QNB has the largest distribution network in the country with 35 local branches and offices, two international branches in London and Paris and more than 95 ATMs.

QNB provides a full range of retail, investment, wealth management, and Islamic banking services and products for individuals, corporate institutions and government entities. The Bank's range of products, services and delivery channels across all disciplines is unrivalled.

The Bank has been the recipient of the award "Best Bank in Qatar" from leading international specialized financial publications including: The Banker, Euromoney, Global Finance and Project Finance. 

QNB has the highest credit rating among Qatari banks from leading rating agencies including Standard & Poor's, Moody's, Fitch and Capital Intelligence. QNB is among the top 10 regional banks. 

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

QNB is the official bank of the 15th Asian Games Doha 2006.

Issued by QNB. For more information and/or press assistance, please call Ali Abdul Ghani, Public Relations Manager Tel: 440 7890, Mobile: 5505729; e-mail: ali.ghani@qnb.com.qa.

© Press Release 2006