Business

HSBC CEO says Qatar a key player in global economy

HSBC CEO says Qatar a key player in global economy

March 26, 2011 | 12:00 AM

Gulliver: ‘Qatar has confirmed its status as a strong emerging market

HSBC Group chief executive officer Stuart Gulliver has reiterated the importance of Qatar as a key player in the world economy during a visit to the country this week. Gulliver, a regular visitor to the country, confirmed that Qatar will remain a priority for HSBC’s investment and development activities in the Middle East.  “Qatar has confirmed its status as a strong emerging market, and for the leading emerging markets bank, this country plays a fundamental role in our global strategy,” said Gulliver.  “With the steady but still volatile recovery of the world economy, it is extremely important to understand the role that the Middle East region plays and to create the right platform from which to grow our business,” he said. “With a presence of more than 50 years in the region, HSBC benefits from exceptional relationships and a deep understanding of these markets, and we will continue to invest in them,” Gulliver said. HSBC Qatar CEO Abdul Hakeem Mostafawi said: “Gulliver’s visit to Qatar is an illustration of HSBC’s commitment to Qatar and confirms the high level of importance we attach to the country.“HSBC has been in Qatar for 57 years, and we will continue to support the government and private sector to grow and diversify the local economy.”Over the last 57 years, HSBC has established itself as the biggest foreign bank in Qatar, offering a fully comprehensive suite of retail, commercial, institutional and private banking products and services through a network of some five branches, 22 ATMs and a diverse workforce of more than 500 employees.
March 26, 2011 | 12:00 AM