“BARWA, MASRAF, IBQ MERGER IN FINAL PHASE”
According to Barwa Bank Group CEO Khalid Al Subeai, its merger plans with Masraf Al Rayan and International Bank of Qatar are progressing at a rapid pace. He added that once the bank completes its legal and financial studies, the report will be submitted before the board of directors and the shareholders.
In December 2016, all three banks had jointly announced that they had entered into initial negotiations regarding a potential merger to create a larger and stronger financial institution.
Addressing the launch event of Barwa Bank's special edition of ‘ Al Mjd' debit and credit cards, Al Subeai said: “It is our utmost pride and honour to launch this unique initiative, which comes as part of Barwa Bank's national initiatives supporting the Qatari society in all its segments, citizens and residents.”