Qatar First Bank L.L.C. (QFB), a leading Shari’ah compliant bank based in Qatar offering investment opportunities and innovative financial solutions with local, regional and international reach, has listed all its shares on the Qatar Stock Exchange (“QSE”) on the 27th of April 2016.
QFB and QSE management teams joined hands in launching the trading of the bank’s shares at QSE premises, in presence of Mr. Rashed Al Mansouri, Chief Executive Officer of Qatar Stock Exchange, Mr. Yousuf Al-Jaida, Chief Executive Officer of Qatar Financial Center, QFB’s Chairman Mr. Abdulla Bin Fahad Bin Ghorab Al Marri, QFB’s Chief Executive Officer Mr. Ziad Makkawi and the bank’s board members as well as a number of senior officials in the finance and business sector.
Commenting on the milestone, Mr. Abdulla Bin Fahad Bin Ghorab Al Marri, Chairman of QFB said:
“Our listing on the QSE was always a top priority, and we are proud to deliver on this promise to our shareholders who have supported us all these years and to the Qatar market in general. It is an opportunity to broaden our shareholder base and offer new investors an opportunity to join us for the next phase of our journey.”
He added: “This significant milestone – the first listing of a Qatari entity licensed by the QFC and the first listing for a private entity in 6 years – will enable us to continue exploring and evaluating new opportunities that contribute positively to our shareholders value.”
He concluded: “I would like to take this opportunity to thank the QFMA and QSE leaderships, as well as their respected team members, for all their efforts in making this listing a reality. We look forward to continuing our cooperation with them to further strengthen Qatar’s financial market position.”
Mr. Ziad Makkawi, Chief Executive Officer, QFB said:
“The listing offers QFB the opportunity to join the rest of the banking community on the QSE, this will allow us greater visibility, tap into new client segments, and empowerment to deliver on our business plan.”
He added: “the transformation of QFB from an investment focused to an investor focused entity will continue across our main business lines: corporate & institutional banking, private banking & wealth management, treasury & investments, as well as alternative investments with a focus on private equity and real estate.”
He concluded: “We are in a new phase of growth for the bank, and the credibility associated with the listing will support us in this effort.”