IntroductionCompany HistoryThe commercial bank of Qatar was established in 1975 as a designated Bank of Account and was the 1st private bank in Qatar. By the year 1978, it had developed and established a foreign exchange and funding division and became an associate member of visa. The 1st branch was opened in Souq Al Ahmed in 1980. Over the years, the bank has grown with Qatar citizens to continually improve and boost the nation’s values, traditions through improved innovations. By 1981 and 1982, plans for opening the head office were underway and by 1985, the bank purchased a 10% share of the Paris International Bank.
The head office was moved to the Grand Hamad Street in 1986 and in 1987 the first branch dedicated to women was opened. Few years later, personal loans and Vehicle loans were introduced. By 1991, the bank had acquired the Diners Club Franchise and launched the Crest Card for Qatar and in 1992; the bank introduced the Point of Sales Machines. In 1996, the signed a strategic alliance with Fidelity Investments. By 1997, the bank had become a licensed broker on the Doha Securities Market.
In 2004, the bank became the title sponsor of the MotorGP Grand Prix of Qatar and in 2005, the bank created an alliance with the National Bank of Oman. In 2008, the bank had listed its Global Depository Receipts and became the 1st of its kind in the entire Qatari nation and the largest in the Gulf region. In 2009, the new headquarters of the bank was inaugurated by H. E. Sheikh Hamad bin Jassim bin Jaber Al Thani, Prime Minister and Foreign Minister of Qatar and in 2010, the bank launched Massoun Insurance Services together with the Qatar Insurance Company.
In 2011, the bank won awards such as the City Performance Excellent Award and JP Morgan Quality Recognition Award which are recognized internationally. In 2012, the bank established a strategic partnership with the Katara Cultural village Foundation and this partnership shows how committed the bank is to supporting cultural activities in the country. Currently, the bank agreed to acquire a 70.84% shareholding in Alternatifbank AS in Turkey. Organization missionThe bank mainly operates on a simple promise that it has made to its customers-We believe everything is possible.
This promise reflects the entrepreneurial value of the founders of the bank and it has been in use since the establishment of the bank in year 1975. The promise is inspired by the sense and drive of possibility that defines the spirit of Qatar today. The bank and its employees look to the future to meet tomorrow’s aspirations, while still maintaining focus on the current financial needs of Qatari nationals. It aims to respond quickly to new chances and opportunities.
It seeks to establish the fact that it has a 24-hour banking system and the customers can rely on the bank at any particular time and at any particular place. ObjectivesTo remain at the heart of the development and diversification of the country’s economy. To continue maintaining a strong performance in the Qatar, together with a focus on regional expansion with the Gulf Co-operation Council region. Services it offers