Barwa Bank opens!!!!!
GULF TIMES DTD:29.10.09
Barwa Bank has made a soft launch with it participating in Qatari Diar’s loan syndication and inching closer to acquire First Finance Company (FFC).
.
The main branch, located at Doha’s Grand Hamad Street, will have both gents and ladies branches and offer current, savings and fixed deposit accounts with a view to rolling out a range of innovative banking products and services in the coming months, said its spokesman.
Customers can currently access bank services via ATM, mobile phone banking, e-banking and 24 hour customer call centre.
Established with an authorised capital of QAR1bn, Barwa Bank is licensed and regulated by the Qatar Central Bank and is a fully owned subsidiary of Barwa Real Estate Company.
The bank yesterday announced that it has been appointed as mandated lead arranger by Qatari Diar, the leading Qatari real estate developer and investment firm, to provide QR500mn as part of a QR4bn Shariah-compliant syndicated facility to help finance the latter’s European investments.
.
Having carefully consulted on the banking needs of today’s society, the bank has designed a fresh and creative approach that would break the mould, creating a wholly new, easier and innovative customer experience, according to him.
“In the next few months and into 2010 we will introduce products and services which will be totally unique and set us apart,” he said.
Barwa Bank has already made its moves to acquire the First Finance Co,[FFC] as part of efforts to corner a larger market share.
FFC had in May this year confirmed that it received an offer from Barwa and its board was “seriously” studying the offer.
Earlier this month, Barwa had said the board of directors of Barwa Bank comprised would be chaired by Ghanem bin Saad al-Saad, with Sheikh Mohammad bin Hamad bin Jassem bin Jabor al Thani, being the vice-chairman
.
I'm a very happy customer of Barwa bank. I really recommend this bank to all. Attractive branch& products,cooperative staff too
.