Doha Bank, the leading private commercial bank in Qatar, says key sectors such as construction and real estate as well as allied services segments, are seeking symbiotic financial partnerships to maintain their edge in a highly competitive market. The Bank aims to build on its leadership position by bringing together specialized teams of consultants to support client ambitions in a very competitive market.
Doha Bank’s Wholesale Banking division is among the top financial partners to the construction and infrastructure sectors in Qatar, with partnerships including leading local developers and construction companies and international specialist consultants in the sector.
To highlight the Bank’s expertise in the field, Doha Bank recently concluded a series of road shows in Doha, Kuwait City, Dubai and Abu Dhabi which welcomed each city’s top sector specialists. The highly successful road shows underscored the Bank’s ability to be more than a financial partner to these brands and companies.
Doha Bank Group CEO, Dr. R. Seetharaman says the Bank’s approach to building relationships is going beyond the transactional or lending aspects of a client partnership and delivering beyond the facility: “Our Wholesale Banking clients are increasingly seeking partnerships that bring together multiple layers of expertise. For example, a project principal will often find it attractive to work with a group of specialists that can provide financial solutions coupled with project consultancy and planning expertise, sustainability expertise and even brand or marketing consultancy services – and all of this should work seamlessly together. In essence the role Doha Bank seeks in such transactions goes beyond the basic value of the transaction itself.”
As one of the top performers among financial institutions in the Corporate Banking sector of Qatar, particularly in the construction and infrastructure segment, Dr. Seetharaman said the Bank is seeking to further extend its role within the sector which is booming with multiple projects announced and underway to meet the increasing demand for housing, offices and hotels in the upcoming decade.
Doha Bank’s position on the potential of this market segment is bullish according to Dr. Seetharaman: “The success of major mixed-use developments planned for Qatar during this period directly correlates to key infrastructure projects such as the official inaugural and full opening of the New Hamad International Airport, the advanced new sea port, the integrated rail system and hundreds of kilometres of roads which will stimulate many non-oil sectors and contribute to Qatar’s growing role in the region as a commercial hub, which in turn supports the construction of civil mixed used developments. It is a well-defined cycle.”
Dr. Seetharaman also highlights the reason for overall positivity within the market: “Qatar benefits from currently focusing on commercial or mixed-use space development and infrastructure projects as opposed to singular-purpose residential projects. This helps mitigate some of the potential swings that can be expected in the residential market over time. The sentiment in Qatar is high, particularly among key project and property developers with whom Doha Bank has established long-term partnerships, and investors are expecting the market to be one of the most attractive in the region in terms of value for both investors and end users.”
Doha Bank is also uniquely positioned to not just assist in key transactions but also be a long-term partner in the functionality of the client’s business. Simple but highly intuitive solution such as the Bank’s day-to-day cash and liquidity management solution ‘Tadbeer’ serve corporate customers across their business needs, including many of the country’s top construction and infrastructure sector firms.
Tadbeer is an integrated cash management software platform addressing a full range of collections, payment, and liquidity management and reporting services. It is positioned at the top of Qatar’s banking sector both in terms of the technology and functionality because it provides a single online interface that is capable of managing all aspects of the client’s cash management requirements, including payables, receivables and liquidity information.
Tadbeer also allows clients to save time by paying their bills using the single web-based interface instead of having to visit a utility service or telecom service provider’s payment office.
Doha Bank’s cash management solutions also include an innovative service called ‘SecureDoc’ which is a door-to-door document and cheque collection service that will accept cheques, including post-dated cheques, for deposit into the client’s account.
Similarly, the bank’s ‘SecureCash’ collection service helps large volume cash businesses such as retail stores with a door-to-door collection service for all cash deposits. These two collection services are available anywhere in Qatar.
Dr. Seetharaman concluded, “Tadbeer is a major step forward for all Doha Bank clients in that it delivers enhanced banking solutions in a paperless environment. It helps clients maximise the value of their banking relationship with Doha Bank without having to visit a branch or be constrained by time or geographic access. More importantly, it helps corporations – large to small – better manage their finances in real time while benefitting from a slew of added-value services.
“This is one of the most critical benefits that will help such clients bridge the gap between operating locally and being able to function efficiently in a globalised market.”