Commercialbank and QIMC sign deal

Borhani (second right) shakes hands with al-Ansari as other executives look on following the ‘exclusive dividend distribution agreement’ signing between Commercialbank and Qatar Industrial Manufacturing Company

Qatar Industrial Manufacturing Company (QIMC) and Commercialbank have signed an exclusive dividend distribution agreement that allows the bank to provide administration services for QIMC’s dividend distribution.
The agreement was signed by Abduljalil Borhani, Commercialbank executive general manager and chief strategic client officer and AbdulRahman al-Ansari, QIMC chief executive officer.
Al-Asnari said: "At QIMC, we are committed to distributing dividends with optimum efficiency to our shareholders. Commercialbank is recognised as one of the leading banks for dividend distribution, thanks to its advanced systems and a well-established set of best practices that are in place. Undertaking the distribution process is a serious responsibility and we believe Commercialbank can provide this service to us in the most trustworthy and professional manner possible. We are proud to sign up with Commercialbank as a business partner and look forward to a productive alliance through this landmark joint
effort.”
Borhani said: "Providing services aligned with international best practice is a major part of our commitment to building relationships with the key industries that drive Qatar’s development.  We are indeed proud to be entrusted with this responsibility. This initiative is a good example of how we can bring together the resources of public and private sectors to work together to deliver real value for QIMC’s customers and for our business. We look forward to this collaboration with QIMC.”
Commercialbank said its dividend distribution service is ‘unique’ in that it allows shareholders to select from a number of ways in which they wish to receive their dividend payments from the companies they are
invested in. 
"We are able to distribute dividends through cash, cheque and by transfer to any bank account in the world, and our service also extends to issuing pledged cheques,” Commercialbank said.