Barwa Bank launches Qotof Islamic financial packages

October 16, 2012 - 4:00:20 am

Barwa Bank officials during the launch of Qotof.

DOHA: Barwa Bank, Qatar’s Shariah compliant banking service provider, has launched Qotof, a suite of financial packages aimed at assisting local corporates achieve their business objectives and most importantly save money, a statement said yesterday. 

The bank has put together an array of selected products, which until now would have been sold separately. The result: Business Banking “bundles” that are highly cost effective, enabling business to considerably reduce expenses while offering an enhanced banking experience.

Samy Adel Khereldin, Head of Business Banking, Barwa Bank said: “Qotof packages are part of our continuing commitment to serve Qatar’s business community, and most notably support the Small and Medium Enterprises (SMEs) growth. Businesses that subscribe for these packages could save more than 40 percent; in short, we’ve bundled our services, so you pay less. SMEs are seen as the engine of future economic growth and provide tremendous opportunities for financial institutions to design various tools for the sector’s development. Barwa Bank intends to lead the way in this, and Qotof Packages are just one of the many ways we are delivering on this.”

Barwa Bank is the sole bank in Qatar to offer these helpful bundles that are 100 percent Shariah compliant and come in three flexible packages - Platinum, Gold and Value.

Barwa Bank was also among the first Shariah compliant banks to join Qatar Development Bank’s (QDB) Al Dhameen for start-ups, an indirect lending facility to guarantee commercial bank loans to the private sector. The bank has also invested heavily in its online banking offering.

“We intend to continue to build on our product offering for SMEs in order to play a pivotal role in enabling the local economy to reach its full potential across all sectors. Qatar offers an extremely dynamic business environment with a great deal of potential and we are committed to help facilitate SMEs, as well as major corporates to contribute to this”, Khereldin added.

The Peninsula