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Posted On: 6 July 2010 05:30 pm
Updated On: 12 November 2020 02:10 pm

Qatar remains top priority in region: HSBC Group CEO

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Reaffirming Qatar’s importance in HSBC’s future plans, Michael Geoghegan, Group chief executive officer held a series of meetings with clients in Doha. In a statement Geoghegan said: “Qatar is absolutely fundamental to HSBC’s business in the region, and Middle East & North Africa is absolutely fundamental to HSBC’s global strategy. In the last month, I have been on business visits to China, South Africa, India, and now the Middle East, and this has only added to my conviction that we are witnessing the greatest rebalancing of economic activity the world has ever seen. “The growth and opportunity for the future now resides in the emerging markets of the world, and here in Qatar we can see the results of that rebalancing.” HSBC Qatar CEO Abdul Hakeem Mostafawi said: “It is an honour to welcome our Group CEO to Qatar, since it is proof of the high importance we attach to the country. HSBC has been in Qatar for over 50 years, and we will be here for many more. Qatar is one of our most important countries in the region, and we will continue to invest and grow here with the country.” Over the past 50 years, HSBC has reached a number of milestones in Qatar such as being the first bank to install an ATM in 1986, and lead managing Qatar’s first Islamic sukuk for the government in 2004. HSBC is currently the biggest foreign bank in Qatar, offering retail, commercial, institutional and private banking services through a network of six branches, 22 ATMs and 550 employees.