Barwa Bank has opened a representative office at the Dubai International Financial Centre (DIFC).
Barwa Bank Acting CEO Khalid al-Subeai said, “This is the first time Barwa Bank has opened an office overseas and is testament to our commitment to developing the Shariah-compliant financial market outside as well as within Qatar.”
Barwa Bank Group chief operating officer & general manager (International) Keith Bradley said, “Barwa Bank has been providing facilities to public and private sector companies in the UAE for three years now. Opening a representative office is a logical next step as we seek to deepen existing relationships and enhance the level of service we can provide.”
DIFC Authority CEO Jeffrey Singer said, “We are delighted to welcome Barwa Bank to DIFC. In line with the vision of Sheikh Mohammed bin Rashid al-Maktoum, Dubai is well-positioned to become a hub for Islamic finance, and we look forward to supporting the growth of businesses such as Barwa Bank, who are looking to expand their Shariah-compliant offering across the wider region.”
Currently in its fifth year of operation, Barwa Bank is well-established to play a major role in the development of the banking and financial services sector in Qatar in the years to come, enjoying strong relations with major corporates, an increasingly growing SME portfolio and one of the fastest growing retail banking activities in the country.
This momentum is expected to increase in 2014, as it continues to build up activities, and cement its position as a major Shariah-compliant banking group in Qatar and the region.