Doha Bank, a Qatar-based private commercial bank, has secured a license from the Reserve Bank of India (RBI) to begin banking operations in the country and open a foreign bank branch in Mumbai.
Doha Bank board of directors, chairman, HE Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani, said the initiative is in line with the expansion strategy adopted by them over the years with a view to expanding the operations of Doha Bank at the local, regional and international levels.
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The new banking license will allow Doha Bank to offer wholesale banking, retail banking, treasury and trade finance services to all customers in India.
HE Sheikh Fahad ensured that Doha Bank will comply with the regulatory instructions of both Qatar Central Bank and RBI.
Doha Bank managing director, HE Sheikh Abdul Rahman bin Mohammad Bin Jabor Al-Thani, said that it is the first Qatari Bank to have full-scale operations in Dubai, Abu Dhabi, Kuwait and India, and this new license for opening a branch in India will not only add value to the bank but will enhance its capabilities in supporting all corporate and individual banking needs.
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