HSBC is the first bank to establish a presence in Qatar Free...| MENAFN.COM

Tuesday, 25 January 2022 11:23 GMT

HSBC is the first bank to establish a presence in Qatar Free Zones


(MENAFN- Gulf Times) Abdul Hakeem Mostafawi, CEO of HSBC Qatar, and Lim Meng Hui, CEO of Qatar Free Zones Authority (QFZA), officially opened the first ATM in Qatar Free Zones (QFZ) on Sunday. HSBC is the first bank to establish a presence in QFZ, offering an ATM as well as visiting relationship managers to support retail and corporate customers. The initial ATM is located in Ras Bufontas Free Zone, with plans to open additional ATMs in the future.

“We are very proud to be the first bank in Qatar Free Zones, to support customers with our advanced digital services available on the ATM. Qatar Free Zones are one of the most important developments in Qatar to support economic transformation and open up opportunities for new companies to establish in Qatar. HSBC is best placed to help these customers with their banking needs in Qatar and abroad,” said Abdul Hakeem Mostafawi, CEO of HSBC in Qatar.

“We are pleased to welcome HSBC to Qatar Free Zones as our first banking partner. HSBC will provide valuable services to our 200+ investors in the free zones, and we look forward to working closely with them on various financial and sustainability initiatives,” said Lim Meng Hui, CEO of QFZA.

The state-of-the-art ATM infrastructure includes solar panels that provide power to the canopy and lighting in support of HSBC's and QFZA's commitments to sustainable operations. The partial shift of the unit's power to solar energy is expected to drive a saving of 79.2kg carbon emissions annually. This is considered to be just the beginning of multiple initiatives in the country as part of HSBC's wider commitment to tackle climate change and develop net zero strategies.

HSBC opened its first digital branch in Msheireb in October 2020 and continues to grow its digital footprint across the country in support of Qatar Central Bank's digital strategy.

Last updated: November 20 2021 10:10 AM

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