Doha Bank has won the “Qatar Domestic Trade Finance Bank of the Year” award at the “Asian Banking & Finance Awards 2016” held recently in Singapore.
The annual awards, among the most prestigious in the Asian financial industry, recognised the best-performing banks from 22 countries across a number of categories.
The awards were judged by an esteemed panel of industry leaders and experts comprising senior members of Deloitte, Association of Southeast Asian Nations (Asean), Ernst & Young, PricewaterhouseCoopers (PwC), Asia Pacific Network of Science & Technology Centres (Aspac), and KPMG.
Doha Bank CEO Dr R Seetharaman said: “This award is a recognition of our strong, unwavering commitment to supporting the financing needs of business enterprises in Qatar. Our trade finance operations boast decades of experience in handling transactions in the local, Middle East, and international markets, and our vast network, combined with the proven efficacy of our services, have been instrumental in helping clients tap into trade and infrastructure opportunities.”
He added: “Adequate trade finance has an important role to play in boosting exports, improving SME competitiveness and accelerating national economic growth. Doha Bank recognises this fact and we have been diligent in ensuring that our resolve to support trade finance remains undimmed even during volatile and challenging market conditions.”
Doha Bank said its pioneering role in trade finance services has earned regional and international repute for over 33 years. With its centralised approach to managing key operations and its ability to make swift adjustments in response to changing market demands, the bank supports international trade through its representative offices in London, Frankfurt, Singapore, Sydney, Toronto, and Hong Kong among others.
It also facilitates regional trade by covering all major trading partners in the GCC. This spread of network, along with correspondent links with over 750 banks across the globe, ensures fast and efficient services, the bank said.
Doha Bank said its commitment to being at the forefront of innovation has resulted in products that have reshaped business operations for its clients. The Internet and mobile banking facility, the bank noted, gives customers remote access to a host of functions, while its small and medium enterprises (SME) -specific financing solution, Tatweer, provides a one-stop service designed to improve business competitiveness.
Doha Bank recently launched “Supply Chain Financing,” a first-of-its-kind solution offered to the SME segment in Qatar. This solution benefits small businesses engaged in supplying goods to larger establishments by providing them with improved working capital and liquidity. The development of new products is further complemented by advanced automation that expedites key functions such as processing of Letters of Credit and payments.