Italian bank major boosts Qatar operations for Mideast expansion
June 28 2021 10:25 PM
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IPA Qatar has signed a pact with ISP, which aims to expand the range of corporate and investment ban
IPA Qatar has signed a pact with ISP, which aims to expand the range of corporate and investment banking solutions available to local and international entities operating in Qatar and the region.

SP, Doha

Intesa Sanpaolo (ISP), Italy's top lender and one of the top banking groups in Europe, is strengthening its operations in Qatar as part of the wider expansion in the Middle East.
In this regard, the Investment Promotion Agency Qatar (IPA Qatar) signed a pact with ISP, which aims to expand the range of corporate and investment banking solutions available to local and international entities operating in Qatar and the region.
The collaboration entails sizing up ISP’s banking team in Qatar and establishing a local booking centre, which will allow the Italian banking group to offer a wider range of products and services to corporations, as well as to a growing numbers of government projects.
The memorandum of understanding, signed by IPA Qatar chief executive Sheikh Ali Alwaleed al-Thani and ISP general manager Daniele Fanin, sets the framework for skills development programmes, which aim to nurture local talent in the financial sector and increase the active participation of ISP in the local ecosystem.
“We work closely with the Qatar Financial Centre (QFC) to attract international financial institutions and support their growth plans. We are also pleased to see our collaboration translate into an increasing presence of renowned banks in Qatar, including ISP, which is a testament to the country’s pro-business climate,” Sheikh Ali said.
Yousuf Mohamed al-Jaida, QFC chief executive, said being the first and largest Italian banking group to launch operations in Qatar through the QFC platform, ISP is set to witness enhanced growth through its partnership with IPA Qatar.
"The direct presence of this prestigious bank has contributed significantly to the expansion and strength of Qatar’s financial services landscape, further solidifying the country’s role as a rising international financial and business hub,” he said.
ISP continues to serve as a successful international investment venture into Qatar, which has been made possible through the unique business infrastructure presented by the QFC to all global firms, according to him.
"It is also a testament to the conduciveness of Qatar’s business ecosystem to international investors charting their long-term growth to the region, which is effectively being propelled through developing such partnerships,” he said.
"The plan for the enhancement of our QFC presence is the natural consequence of such solid results and promising basis and we are very happy to join hands with IPA Qatar to achieve this common goal,” said Fanin.
Leveraging its more than 5,700 branches and international subsidiaries, the ISP serves over 13.5mn customers in Italy and 7.1mn customers in Eastern and Central Europe, the Middle East, and North Africa through a wide range of retail and commercial banking solutions and services.
 
 



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