Sheikh Mohammed bin Hamad bin Jassim Al Thani

#Qatar- #Merger was a smooth affair: Barwa Bank Chairman

Barwa Bank held yesterday its Ordinary General Assembly and approved all the agenda of the meeting. The annual general meeting was presided over by the Bank's Chairman and Managing Director Sheikh Mohammed bin Hamad bin Jassim Al Thani. It was held via video conferencing. The focus of the meeting was on completing the full merger process with International Bank of Qatar, in addition to statistics and financial results for the year 2019 as well as the Bank's future plans. The merger took place in a record time that did not exceed 11 months. Barwa Bank recorded remarkable growth, as its total revenue increased by 43% to reach QR3.3bn, while total assets reached QR77bn, supported by financing assets that exceeded QR51bn.

Islamic banks' assets cross QR100bn mark

I seems that the assets of Islamic financial institutions in Qatar have traversed the QR100bn mark.
After this, many of the European banks and international financial institutions have decided to open Islamic banking windows to collect the benefits and advantages of Islamic banking system.
Barwa Bank will register in Qatar Exchange after the bank completes the pre-requisites and other necessary formalities as it is waiting for the approvals from the concerned authorities for this. The statement came from Sheikh Mohammed bin Hamad bin Jassim Al Thani, Chairman of the bank.

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