RIYADH: Qatar First Bank (QFB) will accelerate the execution of its business plans in Saudi Arabia, said chairman Abdulla bin Fahad bin Ghorab al-Marri, who welcomed the 2030 Vision announced by the kingdom recently. QFB, which recently listed its shares on the Qatar Stock Exchange, was “willing to explore a presence” in Saudi Arabia, he said.
Saudi Arabia’s 2030 vision announced by Deputy Crown Prince Mohamed bin Salman al-Saud includes an “ambitious” plan that includes extensive reforms, designed to transform the kingdom into a global investment power house aiming to end its reliance on oil as a major driver of the economy.
Al-Marri noted that Saudi Arabia’s 2030 Vision was considered the roadmap to the Kingdom’s development over the next 15 years. This new and bold strategy will enable the country to achieve a quantum leap in its successful journey on both economic and developmental levels. The plan will promote foreign investments from the GCC, neighbouring, and global players to the Saudi market.
Al-Marri said, “The 2030 vision seeks to build a prosperous economy and a dynamic society and establish an ambitious nation that explores the great human and financial potential of the kingdom. What was announced by Saudi Arabia’s Deputy Crown Prince, Mohamed bin Salman, incentivised whoever shares this aspiring vision.
“QFB sits at the forefront of these ambitious drives, and we will accelerate the execution of our business plans in the kingdom with the aim to meet the aspirations of our shareholders and clients in Saudi Arabia.” Al-Marri also expressed the bank’s willingness to explore a presence in Saudi Arabia in light of the new vision in order to provide innovative financial solutions and investment opportunities to shareholders and clients. Reaping the benefits of the bank’s strategy launched in 2015, QFB successfully listed all its shares on the QSE on April 27, following its seven-year operational journey.
QFB’s listing represents “another milestone” in the bank’s “quest” to grow, expand its offerings and provide a ‘Signature of excellence’ to its clients. With a clear strategy, highly experienced team, and solid shareholder base in the GCC region, QFB strives to maintain its role as a trusted adviser for high-net-worth individuals, corporate and institutional clients and a gateway to business opportunities in Qatar, the region and global markets. Despite the challenging global and regional economic conditions, QFB said it “has an attractive pipeline of deals” to be completed this yearal-Marri added.
