“BARWA, MAS­RAF, IBQ MERGER IN FI­NAL PHASE”

Qatar Today - - BUSINESS | BANK NOTES -

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.”

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