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HSBC receives QFC licence
10 Oct 2008
According to HSBC, the new branch is part of its plans for expansion in Qatar and the surrounding region.
The firm stated that its 30 years of experience within the Middle East coupled with its business abilities should be beneficial for the region.
Stuart Pearce, chief executive officer and general director of the QFC Authority, said: "The QFC has attracted a wide range of local, regional and international financial institutions, largely because of its world class legal and business environment."
He added that Qatar offers "undeniable" investment opportunities in its growing financial services sector and the insurance industry is a key growth area for the country.
Meanwhile, in August HSBC signed an agreement with the National Institute for Vocational Education to provide 100 students with the chance to study for a National Diploma in Finance and Banking.
The bank said it demonstrates its commitment to providing young United Arab Emirate nationals with challenging jobs.
Source: Adfero
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