Barwa Bank, Qatar’s fastest growing Shari’ah compliant banking service provider, has announced the opening of a Representative Office in Dubai International Financial Centre (DIFC).
Khalid Al Subeai, Acting CEO at Barwa Bank, said, "This is the first time Barwa Bank has opened an office overseas and is testament to our commitment to developing the Shariah-compliant financial market outside as well as within Qatar." Jeffrey Singer, CEO of DIFC Authority, noted, "We are delighted to welcome Barwa Bank to DIFC, Dubai is well-positioned to become a hub for Islamic finance, and we look forward to supporting the growth of businesses such as Barwa Bank, who are looking to expand their Shari’ah compliant offering across the wider region." Currently in its fifth year of operation, Barwa Bank is well established to play a major role in the development of the banking and financial services sector in Qatar in the years to come, enjoying strong relations with major corporates, an increasingly growing SME portfolio and one of the fastest growing retail banking activities in the country.
This momentum is expected to increase in 2014, as it continues to build up activities, and cement its position as a major Shari’ah compliant banking group in Qatar and the region.