Commercial Bank will continue to play a key role in financing Qatar’s huge infrastructure project to support the country’s private sector and the development of a robust economy, said bank CEO Abdulla Saleh al-Raisi.
“We support economic diversity and sustainability in Qatar and we actively support the QNV 2030 economic blueprint,” al-Raisi said at a media roundtable at the Commercial bank Plaza yesterday.
He said Commercial Bank would like to describe itself as a “bank of firsts” as it has launched many pioneering banking initiatives in Qatar.
Some of these are given below:
Commercial Bank was incorporated as Qatar’s first private bank in 1974.
Commercial bank was the first bank to move to Grand Hamad Street, where its head office was opened in 1987.
Commercial bank was the “first bank” to introduce personal and vehicle loans in Qatar in 1988. The next year, Commercial Bank opened Qatar’s first ladies branch.
In 1990, Commercial Bank introduced the first ATMs in Qatar. In 1992, the bank introduced the first point of sale (POS) machines in the country.
In 2000, Commercial Bank launched Qatar’s first Internet home banking service and in 2002, the bank became the first in the country to launch pavilions, or mini branches in malls in Doha.
In 2008, Commercial Bank became the first Qatari bank to list its shares on the London Stock Exchange (LSE) in the form of Global Depository Receipts.
“We are proud of our achievements over the last 40 years and we have travelled far to reach the strong position where we are today. We are looking forward to the future journey ahead with confidence and optimism and recording more notable achievements,” al-Raisi said.
“On behalf of the Board of Directors, I would like to express our sincere appreciation and gratitude for the visionary leadership of HH the Emir Sheikh Tamim bin Hamad al-Thani. I would also like to thank HE the Prime Minister Sheikh Abdullah bin Nasser bin Khalifa al-Thani, ministers and the QCB Governor.”
Abdulla Saleh al-Raisi
