Doha: Barwa Bank today announced its rebranding into Dukhan Bank, effective October 2020. The announcement was made in the presence of H E Sheikh Abdulla Bin Saoud Al-Thani, Governor of Qatar Central Bank, Sheikh Mohammed bin Hamad bin Qasim Al Thani, Deputy Governor of Qatar Central Bank, Sheikh Mohammed bin Hamad bin Jassim Al Thani, Chairman and Managing Director of Dukhan Bank, and a number of members of the Bank’s Board of Directors.
“The bank’s new name takes after the Dukhan city, West Qatar, the site of the first substantial oil reserve to have been discovered in the country; a milestone discovery that has laid the foundations for Qatar’s economic and social growth for over eight decades. Today, as Qatar ushers in yet another economic transformation toward knowledge-based and digital industries, Dukhan has transcended its physical significance to its symbolic power. It remains a beacon of change that transforms a nation, that crosses geographies and that moves societies forward,” a statement from the bank said.
The rebranding announcement comes nearly a year after the official completion of the legal merger between Barwa Bank and ibq. The merger, the first-ever in Qatar’s history, established a robust Shari’ah compliant financial institution. Prior to its rebranding as Dukhan Bank, the consolidated entity continued to operate under the name of Barwa Bank following the completion of the operational merger.
