(MENAFN - Arab News) Barwa Bank Qatar's fastest growing Shariah-compliant banking service provider has announced the opening of a representative office in Dubai International Financial Centre (DIFC).
Khalid Al-Subeai acting CEO at Barwa Bank said 'This is the first time Barwa Bank has opened an office overseas and is testament to our commitment to developing the Shariah-compliant financial market outside as well as within Qatar."
Keith Bradley group CEO & GM international at Barwa Bank said: "Opening a representative office is a logical next step as we seek to deepen existing relationships and enhance the level of service we can provide."
Jeffrey Singer CEO of DIFC Authority noted: 'We are delighted to welcome Barwa Bank to DIFC. In line with the vision of Seikh Mohammed bin Rashid Al-Maktoum Dubai is well positioned to become a hub for Islamic finance and we look forward to supporting the growth of businesses such as Barwa Bank who are looking to expand their Shariah compliant offering across the region."
Currently in its fifth year of operation Barwa Bank is well established to play a major role in the development of the banking and financial services sector in Qatar in the years to come enjoying strong relations with major corporates an increasingly growing SME portfolio and one of the fastest growing retail banking activities in the country.
This momentum is expected to increase in 2014 as it continues to build up activities and cement its position as a major Shariah-compliant banking group in Qatar and the region.