(MENAFN- The Peninsula) The Peninsula
DOHA: Businesses in Qatar voted HSBC as the #1 Market Leader in Trade Finance Services for the second consecutive year, according to Euromoney's 2019 Trade Finance Survey results.
Commenting on the Awards, Ricardo Ackel, Country Head of Trade & Receivables Finance for HSBC in Qatar said, 'This award is a testament from our customers to the quality and consistency of Trade Finance services and the wide range of products offered in Qatar. We are leading the way in digitizing Trade Finance as part of our continuous effort to improve customer service and provide optimal solutions for our customers. Our HSBCnet Trade Transaction Tracker mobile app, was launched in Qatar last year and has been a key component in our digital journey.
'Qatar continues to grow in importance as a key trade hub with its newly established economic free zones in Umm Al Houl and Abu Fontas. This development forms an integral part of the country's national development plan to create opportunities for sustainable economic growth. Supported by our large international connectivity with a geographic footprint that covers 77 per cent of global trade we have been able to facilitate end-to-end trade transactions with both suppliers and distributors easily accessing our products and services on both ends of the deal, commented Elie Maroun El Asmar (pictured), Country Head of Commercial Banking for HSBC Qatar.
'This award demonstrates that our Global Trade and Receivables Finance team in Qatar is delivering the service and products customers need, which in turn, supports the dynamic trade environment in the country, he added.
In addition to the global and regional wins, businesses also voted HSBC as the #1 Market Leader in Algeria, Bahrain and Egypt. When asked to assess the quality of service delivered by their providers, businesses voted HSBC in Algeria and Bahrain for the #1 Best Service Award.
The Euromoney Trade Finance Survey based its findings on a poll of more than 7,000 businesses engaged in international trade, asking them to rank the top providers of trade finance services.
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