QCB to track US rates as BMI sees another 0.25% hike in Qatar
February 24, 2017
The Qatar Central Bank will continue tracking the US Federal Reserve in its tightening cycle over the coming quarters, given the riyal’s dollar peg, BMI Research said and noted it expect another 25 basis points (0.25%) hike in the QCB’s policy rate to 5% this year.
Hikes will be enacted without delay as Qatar’s economic growth accelerates, inflation rises and domestic liquidity pressures ease, the Fitch Group company has said in a report.
“Though vast fiscal buffers mean Qatar is able to defend the peg in the event of a narrowing interest rate differential...
City Exchange ties up with Aster; offers privilege card benefit
February 22, 2017
City Exchange, one of the leading money exchange companies in Qatar has joined hands with Aster Medical Centre for their privilege card programme.
The card holders will get an opportunity to get health services at best rates. The new tie-up enables privilege card holders to avail great discounts and offers on various diagnostic and consultation services at various Aster Medical Centres across Qatar. The City Exchange privilege card will available in two categories, Citex Gold card and Citex Silver card. Aster Medical Center is the largest private healthcare provider across Qatar.
Commercial Bank of Qatar misses forecasts with 99 pct profit slump
February 22, 2017
Commercial Bank of Qatar (CBQ), the Gulf Arab state's third-largest lender by assets, reported a 99 percent fall in fourth-quarter net profit on Wednesday, according to Reuters calculations. This meant it widely missed analysts forecasts as it was hit by provisions and weakness among its overseas investments. The bank earned a net profit of 1.4 million riyals($384,499) in the three months to Dec. 31, compared with a profit of 100.9 million riyals in the same period a year earlier, Reuters calculated based on financial statements in lieu of a quarterly breakdown. The average of three analysts polled...
International Bank of Qatar to license TSYS’ payment solutions platform
February 21, 2017
International Bank of Qatar (ibq) has agreed to license TSYS’ future-focused PRIMESM payment solutions platform.
ibq has selected PRIME to manage all of its Visa and MasterCard credit and debit card issuing and ATM acquiring business as part of a single-platform solution. ibq will benefit from PRIME’s integrated capability for authorisation and switching, fraud monitoring and risk management, disputes and chargeback handling, and ATM management.
Banks support Saudi, Qatar modest market trading volumes
February 19, 2017
Stock markets in the Middle East were mixed in modest trading volumes on Sunday with Saudi Arabia and Qatar outperforming because of support from the banking sector, while Egypt fell as the currency hit a three-month high.
Two-thirds of the 12 listed banks on Saudi Arabia's bourse gained, lifting the index 0.1 percent. Alawwal Bank added 2.7 percent, with most activity occurring in the last hour of the session.
Qatar & South Korea relations expanding: Doha Bank CEO
February 18, 2017
Qatar and South Korea are expanding relations from energy and infrastructure cooperation to healthcare and education, said Dr R Seetharaman, CEO of Doha Bank, while speaking at a 'Knowledge Sharing Session' held in Seoul, South Korea.
The bank hosted a session on “Changing Global Dynamics and Opportunities” on Thursday at Lotte Hotel, Seoul. Kim Jin Soo, Secretary General, Korea Arab Society attended the event.
Ahlibank unveils credit card with Visa payWave technology
February 18, 2017
Ahlibank and Visa International have announced the launch of its first Visa Platinum credit card in Qatar powered with Visa payWave technology.
With the Visa payWave technology feature, cardholders can simply shop, wave, and go – convenient, fast, and secure without needing any PIN (Personal Identification Number) or signature for purchases of QR100 or less.
However, purchases above QR100 can be paid using the Visa payWave with inserting the PIN in the terminal.
Ahlibank Visa payWave Platinum credit...
Qatar Shareholder Leaves Credit Suisse Board
February 15, 2017
Three Credit Suisse board members won't stand for re-election in April. Among them: the representative of Qatar, the second-largest shareholder in the Swiss bank.
Noreen Doyle and Jean Lanier, upon reaching tenure limits, and Jassim Bin Hamad J.J. Al Thani will not stand for re-election, Credit Suisse said on Tuesday.
Chairman Urs Rohner, who has been criticized by finews.com and others, and the other"......
Commercial Bank and Ooredoo offer ‘bulk bill’ payment service
February 11, 2017
Commercial Bank and Ooredoo have announced the launch of a new first-of-its-kind bulk bill payment service, ‘Ooredoo Bulk Bill Payment’, at a signing ceremony held at the Commercial Bank Plaza.
The ‘Ooredoo Bulk Bill Payment’ will enable all Commercial Bank Corporate customers to quickly and easily pay their Ooredoo Business bill through Commercial Bank’s state-of-the-art online Corporate Internet Banking channel.
Commercial Bank Corporate customers can now make billing enquiries and instantly settle...
IBQ rewards loyal customers with new programme
February 8, 2017
International Bank of Qatar (ibq) has launched its ‘merchant discount programme’ for the seventh year in a row, with new partners bringing “a fresh twist” to the exclusive offers this 2017.
Discounts are strategically designed around the following themes: indulgence, well-being, shopping, and services.
ibq credit card holders can treat themselves with a wide range of benefits offered by many retailers in the country.
Hassan al-Mulla, head of Retail Banking at ibq, said: “At ibq, customers always come first. The bank is thriving to offer the best opportunities...
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