DOHA: Doha Bank gets licence from the Reserve Bank of India (RBI) to commence banking operations in India. It will open a branch in Mumbai soon to provide full-scale banking services.
Doha Bank will offer wholesale banking, retail banking, treasury and trade finance services.
Sheikh Fahad bin Mohammad bin Jabor Al Thani, Chairman, Doha Bank, said, “in line with the expansion strategy adopted by the Board of Directors over the years with a view to expanding the operations of Doha Bank at the local, regional and international levels, the licence from the RBI to start operations in India is yet another milestone and testimony and is considered as the only Qatari bank to obtain such a licence.”
Doha Bank’s Managing Director Sheikh Abdul Rahman bin Mohammad bin Jabor Al Thani said, “Doha Bank is the first Qatari Bank to have a full-scale operations in Dubai, Abu Dhabi, Kuwait and India, and this new licence for opening a branch in India will not only add value to the bank but will enhance its capabilities in supporting all corporate and individual banking needs.”
R Seetharaman, CEO of the bank said, “there is a large diaspora of Indians in Qatar and GCC and that various Indian companies are active in infrastructure projects, therefore, the licence we got to start our operations in India will pave the way for the bank to support all expatriates.”