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Doha Bank got license to start its Banking Operations in India

Dec 12, 2013 16:16 IST

Doha Bank has been granted the license to start its banking operations in India. It has been permitted to open a branch in Mumbai to provide full-scale banking services. Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani, the Chairman of Doha Bank Board of Directors on 12 December 2013 announced it in Doha. The move of Doha Bank happened in the wake of the expansion strategy at the local, regional and international levels.

Doha bank has become the first Qatari Bank to get a license from Reserve Bank of India to start operations in India. It will offer wholesale banking, retail banking, treasury and trade finance services and will start its operation in Mumbai, its Foreign Bank Branch soon.

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As many Indians and GCC and Indian companies, which are active in infrastructure projects are in Qatar, therefore this step will pave the way for the bank to support all expatriates especially in foreign remittances. Apart from this, this license will also enhance the role of Doha Bank in facilitating the trade and investment co-operation between Qatar and India.

Doha Bank is the largest private commercial bank in Qatar with 11 representative offices across the globe including Dubai.

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