Doha: Qatar Financial Centre Authority (QFCA), the legal and tax arm of the Qatar Financial Centre (QFC), a leading onshore financial and business center in the region, has signed a Memorandum of Understanding (MoU) with Dukhan Bank (DKB) to pursue certain areas of collaboration that benefit both parties.

According to Qatar News Agency, the MoU establishes a framework for positioning DKB as a strategic partner bank for new and existing QFC-licensed firms and their employees on a non-exclusive basis. Under the MoU, DKB will provide corporate banking accounts and create customized banking solutions for new QFC-licensed firms referred by QFCA once they have obtained their corporate registration credentials. Additionally, DKB will offer immediate banking services to all employees of these firms who are new to Qatar.

Commenting on the partnership, Chief Executive Officer, QFC, Yousuf Mohamed Al Jaida, said: “This Memorandum of Understanding with Dukhan Bank represents a significant step towards enhancing the fin
ancial services available to QFC-licensed firms. By providing tailored banking solutions and a dedicated space for their needs, we are creating an environment that fosters growth and innovation within the QFC community. Together, we are fostering a more robust financial ecosystem in Qatar.” Acting Group CEO of Dukhan Bank, Ahmed Hashem, emphasized the significance of the MoU, stating: “We are proud to partner with Qatar Financial Centre to offer tailored banking services that meet the unique needs of QFC-licensed firms and their employees. This collaboration underscores our commitment to delivering innovative Shariah-compliant financial solutions that support the growth and success of businesses in Qatar. By combining our expertise with QFC’s strong business platform, we aim to enhance the ease of doing business and contribute to building a dynamic and thriving financial ecosystem.”