26 January 2008 - Doha - Qatar National Bank (QNB) customers, Qataris and Expatriates, can now subscribe to Barwa Real Estate Company's "Increase of Capital" shares electronically through QNB's EAZYinternet website (http://ib.qnb.com.qa), the country's leading internet banking service, and through ATMs. QNB Al Islami customers can also avail of the bank's electronic service.
QNB customers can subscribe in the capital increase of Barwa and experience the hassle free valuable features of QNB electronic channel from the comfort of their home or through the nearest QNB ATM, 24 hours a day. A wide range of benefits await customers who choose to avail of this service.
The bank offers an instant pre-approved loan up to 65% of the IPO's value regardless of the customer's current credit standing. Non QNB customers who wish to subscribe can benefit from the service by opening a QNB account. Customers who apply for a finance request through EAZYinternet can enjoy reduced fees of 1% or QR 300 as a minimum.
Last year, QNB took the lead in introducing this innovative method to subscribe for IPOs, in its constant pursuit to modernize and make all its products & services more customer friendly.
To benefit, all that is required is a one-time registration with QNB. Customers can then apply for all future IPOs, 24 hours a day, via QNB's EAZYinternet, the country's leading internet banking service, SMS or ATM facilities. QNB customers can also register up to 15 family members at the same time, and register for the loan. This loan facility will then be available at the time of all future IPO applications if the customer requires the loan.
The previous years have witnessed a tremendous increase in the volume of activity at the Doha Stock Market. This, together with QNB's extensive experience of managing IPOs, identified a need to provide customers with a significantly improved application process to eliminate the need to visit bank branches and complete the same information for every IPO.
QNB has demonstrated an excellent track record in e-banking, through its innovative products and services. The bank is committed to providing technology-enabled alternative banking channels that provide greater customer satisfaction and convenience. QNB has continually developed and improved its online banking services in line with its commitment to offer world-class banking services in Qatar, and has thus received wide spread recognition regionally and internationally.
QNB and Barwa have a long standing relationship as the bank has provided finance to a tune of one billion Qatari Riyals through Islamic financing to be utilized for Barwa's Real Estate investment projects.
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About Qatar National Bank (QNB)
Qatar National Bank (QNB) was established in 1964 as the country's first Qatari-owned commercial bank, with an ownership structure split between Qatar Investment Authority (50%) and the private sector (50%).
QNB has steadily grown to be among the largest banks in the region and is by far the leading financial institution in the country with a market share approaching 45% of banking sector assets. QNB has the largest distribution network of 42 branches and offices (including 3 mobile branches), in addition to 10 Islamic branches and offices, and 130 Automated Teller Machines (ATMs).
QNB international presence is rapidly expanding to include new locations in Oman, Kuwait and Mauritania supplementing existing branches in London and Paris and Yemen and Representative Offices in Libya, Singapore and Iran.
As part of the same expansion plan, QNB has acquired 30% of the shares of the Jordan based, The Housing Bank for Trade and Finance (HBTF) which operates in Palestine, Bahrain, Algeria, Syria, UAE, Libya and Iraq, in addition to Jordan. QNB also signed an agreement to establish the Qatar National Bank-Syria jointly with other Syrian private and public sectors institutions with 49% share.
The London-based Ansbacher, QNB's Wealth Management and Private Banking subsidiary, operates in Switzerland, Channel Islands, the Bahamas, Dubai International Financial Center and Qatar Financial Center. Ansbacher was the first financial institution to be granted a license to operate at Qatar Financial Centre providing a wide range of wealth management services in Qatar and the region.
QNB offers a full range of retail, corporate, investment, treasury, wealth management, and Islamic banking products and services for individuals, corporate institutions and government entities. QNB is constantly striving to provide intelligent banking solutions and its range of products and services, and delivery channels across all disciplines continues to be unrivalled.
Through its affiliate, QNB Al Islami, QNB was the first commercial bank in Qatar to offer Islamic Banking products and services, and the first Qatari bank to launch equity funds (Al Watani Funds) for companies listed in the Doha Securities Market.
QNB has the highest credit rating among regional banks from leading rating agencies including Standard & Poor's, Moody's, Fitch, and Capital Intelligence. The Bank has also been the recipient of the "Best Bank in Qatar" Award from leading international specialized financial publications.
QNB has an active community support program and sponsors various social, educational, and sports events.
For further information, please contact
QNB's Public Relations Department
Tel: (974) 4252591
Fax (974) 4252589
© Press Release 2008 from Promoseven